Pro 12 09 2013 layout 1 by Profit Epaper

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buSinESS thursday, 12 September, 2013

product plans and future of computing vision outlined to ‘mobilise’ intel and developers ISLAMABAD: Intel’s new CEO Brian Krzanich laid out Intel’s vision and described how Intel is addressing each dynamic market segment and accelerating Intel’s progress in ultramobile devices – with new products over the next year and beyond, including a new, lower-power product family. This year’s Intel Developer Forum marked the first keynote addresses by Krzanich and Intel President Renee James since assuming their new roles in May. In her presentation, James envisioned a new era in which every device and every object computes, meaning that integrated computing solutions must be smaller, faster, more versatile and produced in higher volume. “Intel has played a pivotal role in every previous technology transition and will continue to enable breakthroughs in the future,” said James. Krzanich said that Intel this week will introduce “Bay Trail,” Intel’s first 22nm system-on-a-chip (SoC) for mobile devices. “Bay Trail” is based on the company’s new low-power, highperformance Silvermont micro architecture, which will power a range of innovative Android* and Windows* designs, most notably tablets and 2 in 1 devices. As an example of how Intel will continue to use its manufacturing and architectural leadership to push further into lower power regimes, Krzanich announced the Intel Quark processor family. The new lower-power products will extend Intel’s reach to growing segments from the industrial Internet-ofThings to wearable computing. It is designed for applications where lower power and size take priority over higher performance. Intel will sample formfactor reference boards based on the first product in this family during the fourth quarter of this year to help partners accelerate development of tailored, optimized solutions initially aimed at the industrial, energy and transportation segments. ONLINE

There are no secrets to success. It is the result of preparation, hard work, and learning from failure. — Colin Powell

Dar lInks fInanCIal stabIlIty to strong bonD wIth publIC KARACHI

STAFF REPORT

INANCE Minister Senator Mohammad Ishaq Dar Wednesday said developing a stronger trust bond with the public is crucial for bringing financial stability in the country. This Dar stated during a visit to his parent institute, Institute of Chartered Accountants of Pakistan (ICAP) as a chief guest. He interacted with the outgoing and incoming council members and media. In his address, he highlighted the consistent role that ICAP has been playing for the development of the profession since its inception. He reiterated the stance of the govern-

ment in implementing good governance with focus on transparency for public interest and revitalizing the economic structure of the country and singled out the vital role that the chartered accountants can play in improving the performance of public sector. He called for increased collaborative measures between the Institute and the government and commended the recent MoU of ICAP w i t h t h e D e partment of Au-

ditor General of Pakistan (AGP) and Controller General of Accounts (CGA) for the capacity building of the staff of the AGP and CGA. He singled out the amount of public trust in the institute and its professionals and accredited it to the unwavering professional

Govt to build 500,000 housing units in five years to overcome shortfall: PM ISLAMABAD INP

Prime Minister Nawaz Sharif has said that his government has identified housing as a priority area and is therefore planning to provide 500,000 units during the next five years to overcome the housing shortfall. He added that his government’s “Mera Ghar” scheme introduced in 1997 was a move to provide this basic necessity to lower and lower middle class families. The Prime Minister said this while meeting a delegation of the Turkish Housing Authority led by H.E. Erdogan Bayraktar, Minister for Environment and Urbanization, Government of Turkey. Minister Finance Mr. Ishaq Dar, Mr.

Muhammad Shahbaz Sharif, CM Punjab, Minister of State for Housing Barrister Usman Ibrahim, Special Assistant to Prime Minister Mr. Tariq Fatemi also attended the meeting. The Premier expressed the confidence to take the bilateral relations with Turkey to new heights and work for promoting and strengthening the economic and trade relations. He said that his government would benefit from Turkey’s Mass Housing Program wherein low cost housing facility for the poor families could be provided. The Prime Minister was briefed by the Turkish delegation that Turkey has devised a revenue sharing model according to which 15 % of their housing stock is diverted towards “Revenue Generation” and the remaining 85% towards “Social Housing”. The “Social Housing” scheme comprises of two main components wherein firstly; the land is provided by the government and secondly; a flexible payment schedule is offered according to affordability. "We will study the financial model and visit on ground the housing schemes developed in rural and urban areas in Turkey during my forthcoming visit”, said the Prime Minister. The Prime Minister thanked the Turkish delegation and said that he is looking forward to the upcoming visit to Turkey where Pak-Turkey bilateral relations would further strengthen. Senior officials of the Prime Minster’s Office, Turkish Government and Government of Punjab also attended the meeting.

KSE StayS bulliSh on StronG valuationS in bluE-chiP StocKS KARACHI STAFF REPORT

The bull-run prevailed on the Karachi stocks market Wednesday as selected blue-chip stocks kept investors' interest in hold on strong valuations. The primary catalyst for the positive trend was again the international credit rating agency's, Moody's, favourable remarks on IMF's $6.64 billion loan for the dollar-hun-

gry Pakistan. The day saw the benchmark KSE 100-share index gaining 239.51 points or 1.04 percent to close at 23,231.68 points compared to 22,992.17 points of Tuesday. The free-float KSE-30 index also set in the positive side having gained 100.15 points to close at 17, 959.96 points as compared to 17,859.81 points of the previous day. "Bullish trend continued amid investor interest in selected blue chip stocks across the board on strong valuations," viewed

Ahsen Mehanti of Arif Habib Corporation. The analyst said positive remarks by Moody's on IMF loan sanction, gas discoveries in oil sector, rising trend in car sales data depicting 4 percent YoY growth, expectation of reform action plan for ailing State-Owned Enterprises and early approval of 3G licences auction in telecom sector played a catalyst role in bullish activity. This, the analyst said, was despite the investors' concerns for security unrest in the

city after the strike call by a major political leadership. The trading turnover at the ready-counter was recorded higher at 269.73 million shares against 265 million shares traded a day earlier. The scrips traded also moved upward in terms of value and climbed to Rs 10.15 billion against the previous Rs 9.7 billion. Of the total 354 scrips traded on the day 222 gained value, 105 lost and 27 remained unchanged. The market capital rose by Rs 4 billion to Rs 5.69 trillion from Rs 5.65 trillion of the previous trading session. PIA appeared as a volume leader of the day by counting 20.55 million of its listed shares traded. The scrip appreciated by 13 paisas by closing at Rs 7.89. Other well performing equities were Fauji Cement, PTCL, KESC, Maple Leaf Cement, Bank of Punjab, TRG Pakistan, Jhangir Siddiqui Company, Telecard Limited and Engro Foods. The future marker closed bearish as the trading turnover declined to 25.28 millions shares from 27.49 million shares of Tuesday.

competence of its members and the strong adherence to the principles of ethics and integrity. He urged active involvement of chartered accountants in the public sector so that more effective transparent system for providing relief and facilitate the public can be put in place. President ICAP Ahmad Saeed, speaking on the occasion, shared the initiatives taken by the institute to add value and develop the profession. He highlighted the new initiatives taken by ICAP relating to the education reforms and various other projects such as Directors Training Program. Saeed also spoke of the areas of ICAP and government collaboration, he also conveyed the desire of the Institute to support the government in its Public Sector Reforms.

ICCI asks banks to facilitate the growth of private sector through easy credit facility

ISLAMABAD INP

In line with its strategy of expanding its network, JS Bank has opened its corporate branch in Islamabad Stock Exchange Tower, Jinnah Avenue, Blue Area, Islamabad. Zafar Bakhtawari, President, Islamabad Chamber of Commerce & Industry was the chief guest of the occasion. Addressing the inaugural ceremony, he said that banks should become partner with private sector to promote business activities and steer the economy out of current challenges. He said that private sector is the engine of economic growth and banks can play a significant role in its expansion by providing easy credit facility to businessmen. He said the credit expansion to the private sector remained subdued during 2012 and banks should now change their strategy to focus on private sector, which will not only improve their profitability, it will also help in improving the overall economy. He said growth of investment in private sector is linked to the thriving banking sector & capital markets and government should facilitate these financial intermediaries so that they could extend better support to private sector in expanding business ventures. He congratulated the JS Bank for opening its branch in Islamabad Stock Exchange Tower and hoped that it would provide quality and innovative services to its customers by maintaining high ethical and regulatory standards. Speaking at the occasion, Abid Wasim Malik, Branch Manager, Corporate & Commercial Banking Group (North) JS Bank said that JS Bank is part of JS Group and since its inception, JS Bank has developed a network of over 185 branches across 100 cities. He said the bank enjoys a rating of A and A+ by the Pakistan Credit Rating Agency (PCRA). He said JS Bank offers a full range of conventional banking solutions including retail, consumer, commercial and corporate banking, serving a growing customer base across Pakistan. He ensured that JS Bank Branch in ISE Tower would provide best possible services to its customers by maintaining higher standards of banking.

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I am certainly not one of those who need to be prodded. In fact, if anything, I am the prod. — Winston Churchill

attaInIng growth wIthIn IMf lIMIts bIggest test for govt: fpCCI MALIK SAYS BUSINESS COMMUNITY FEARS ECONOMIC CONTRACTION AFTER IMF DEAL KARACHI

INP

HE Federation of Pakistan Chambers of Commerce and Industry (FPCCI) on Wednesday said using IMF loan responsibly and ensuring growth within the parameters of lender’s harsh conditions is to be one of the biggest test of the government’s ability. IMF policies are widely blamed for chocking growth making life difficult for masses and the private sector while the PML-N is known for its pro-investment and pro-business policies, said Zubair Ahmed Malik, President FPCCI. This obvious contradiction will make it very difficult for the government to ensure growth keeping lender happy and without compromising the falling living standards of masses, he added. Speaking to the business community, Zubair Ahmed Malik said that majority of the population is already living below the poverty line reeling under rising inflation while businesses are finding it difficult to sustain. “We see ahead an era of further depreciation in exchange rate, monetary contraction, massive unemployment, dwindling exports, reduced forex reserves, missed revenue targets, double digit inflation and rising cost of production,” he added. He said that gas levy estimated at Rs105 bil-

lion, 30 to 50 per cent increase in power tariff and 30 per cent escalation in domestic power price from next month could result in increased energy theft and decelerated power sector recoveries. Business community doubts accomplishment of the Government’s stated objectives like push-

ing growth rate to six per cent in five years, fiscal deficit at 4 per cent, tax to GDP ratio at 15 per cent, investment to GDP ratio at 20 per cent, and generation of 10,000MW of electricity. Similarly, the FPCCI chief said, increase in food production and expenditure on education by 4 per cent each, pushing literacy rate to 80 per cent, 2 per cent hike in health sector spending, and creation of three million jobs seems difficult tasks. He noted that deadly combination of growing fiscal deficit and unsustainable trade deficit should be tacked to ensure sustainability. Zubair Ahmed Malik said that solid and bold policy action is lacking which can tackle terrorism and sectarianism and improve socio-economic and political situation of the country which will help reform the economic fundamentals ensuring a bright future for generations to come.

buSinESS B

thursday, 12 September, 2013

Major Gainers COMPANY OPEN Rafhan MaizeXD 4868.66 Wyeth Pak Ltd 3217.25 Bata (Pak) 1709.78 Colgate PalmolivXDXB 1620.00 Island Textile 760.00

HIGH 5099.80 3378.11 1795.26 1699.99 788.00

LOW 5099.80 3150.00 1700.00 1650.00 779.00

CLOSE CHANGE 5099.80 231.14 3378.11 160.86 1795.26 85.48 1699.99 79.99 779.00 19.00

TURNOVER 20 4,080 11,780 40 150

6580.00 5195.00 924.00 228.25 300.00

6000.01 5195.00 900.00 228.02 300.00

6050.00 5195.00 906.87 228.14 300.00

-249.00 -95.00 -26.13 -11.87 -11.00

80 20 1,250 500 300

8.38 14.29 28.35 6.58 25.65

7.06 13.83 27.11 5.89 24.65

7.99 14.05 27.98 6.44 25.03

0.23 -0.13 0.94 0.26 0.14

20,559,500 16,029,500 11,712,500 11,443,000 11,208,500

Major losers Nestle Pak. Unilever FoodSPOT Siemens Pakistan Pak Services Khyber Tobacco

6299.00 5290.00 933.00 240.01 311.00

volume leaders P.I.A.C.(A) Fauji CementSPOT P.T.C.L.A K.E.S.C. Maple Leaf Cement

7.76 14.18 27.04 6.18 24.89

interbank rates USD GBP JPY EURO

PKR 104.7943 PKR 165.2920 PKR 1.0454 PKR 139.0515

Forex

PESHAWAR: Chief Secretary Khyber Pakhtunkhwa Muhammad Shehzad Arbab talking with action The Bank of Khyber Managing Director Imran Samad. STAFF PhOTO

UK Pound Sterling Euro US Dollar Canadian Dollar Australian Dollar Japanese Yen Saudi Riyal UAE Dirham China Yuan

BUY

SELL

164.45 138.25 104.95 100.5 96.5 1.052 27.9 28.4 16.5

164.7 138.5 105.2 100.75 96.75 1.065 28.15 28.65 16.75

CORPORATE CORNER Dr pervez hoodbhoy takes up endowed Chair at forman Christian College NBP distributed prizes among its customers in NBP – Western Union marketing campaign. NBP SEVP/Group Chief & Chairman NBP Exchange Co Ltd, Khalid Bin Shaheen stands in the centre along with senior officials and winners collecting home remittance payments from the NBP branches sent from Saudi Arabia. PR

Mobilink offers customized communication solutions for lahore’s real estate sector KARACHI: Mobilink has introduced a customized communication solution for DHA’s Real Estate (RE) Agents Association in Lahore. The solution, based on Mobilink’s Closed User Group (CUG) model, will offer the members of the Association with an economical means to facilitate communication within the group. The CUG service will enable quick access to the employees of the 380 member companies of the association who will be offered up to 1000 free minutes per month. For members with greater frequency of calls within the association, a bundle of 5000 minutes per month is being offered for highly discounted prices. The CUG member will also be offered SMS and voice bundles as well as customizable package plans. Nasir Bilal, Director Business Services Division, speaking on the launch of the services said, “Mobilink believes in creating unmatched solutions for our business customers by offering innovative and uninterrupted communication services. We designed this solution specially to cater to the needs of the DHA’s Real Estate Agents Association. The service offers unprecedented freedom, economical value and unparalleled communication round the clock.’’ Javed Zameer Ahmed, President DHA Estate Agents Association commenting on the offer added, “Our association has nearly 400 member organizations, and is continuing to grow. We appreciate the initiative taken by Mobilink, which will help us communicate and coordinate more efficiently.’’ The CUG offers the Association’s members better control over the usage and ownership of their official cellular connections. PRESS RELEASE

Eminent academic and activist Dr Pervez Hoodbhoy has joined the faculty at Forman Christian College starting from September 1, 2013. Dr Hoodbhoy is the inaugural Zohra and ZZ Ahmed distinguished scholar through an Endowed Chair the Zohra and Z. Z. Ahmed Foundation has set up in the Departments of Mathematics and Physics. "Dr Hoodbhoy is an outstanding academic dedicated to reinvigorating critical thinking and novel research methods in Pakistan's academia," remarked Dr Jim Tebbe, FCC's Rector, "and will no doubt play an influential role in making sciences an enjoyable discipline to learn and excel at for students at FCC." Dr Hoodbhoy has previously taught at the Quaid-eAzam University and LUMS, authored three books and over sixty-five research papers. He has been awarded the UNESCO Kalinga Prize for disseminating knowledge of the sciences, as well as the Abdus Salam Award in Mathematics. "We are pleased to set up the Zohra and Z. Z.Ahmed Chair at Forman Christian College and remain confident that Dr Hoodbhoy will further enrich the academic tradition at FCC that it has witnessed since its transfer back to the Presbyterian Church," noted Razi Ahmed, Director of the Zohra and ZZ Ahmed Foundation. Zohra and ZZ Ahmed Foundation has previously supported two annual scholarships at FC College's School of Management. The foundation is the philanthropic arm of the Associated Group, a Lahore-based energy business group, and has earlier this year sponsored the debut Lahore Literary Festival. PRESS RELEASE

kasb bank inaugurates business branch at II Chundrigar road

KARACHI: KASB Bank in line with its strategy to provide innovative financial products is in process of transforming its 21 conventional branches into Business Branches. In the first phase Faisalabad Branch, Karachi I.I. Chundrigar Branch, Hyderabad

Saddar Cantt Branch and Lahore Gulberg Branch will be converted into a Business Branch by September 16, 2013. In addition to the conventional banking these Business Branches will be offering Credit Facilities, Trade Finance Solutions, Seasonal Financing, FOREX Products and much more. In this regard KASB Bank I.I. Chundrigar Branch was inaugurated on September 09, 2013 by KASB Bank President & CEO Mr. Bilal Mustafa. The inaugural ceremony was attended by notable personalities of the city and existing & potential customers of the bank. PRESS RELEASE

german Consulate announces upcoming Cultural events. KARACHI: A wide range of cultural activities will be held in the city as part of German Cultural Weeks from September to November, announced Consul-General of the Federal Republic of Germany Dr Tilo Klinner and Director of the Goethe Institut Karachi Dr Manuel Negwer at a press conference at the German Consulate on Tuesday evening. Dr Klinner told the media that the weeks were a continuation of the tradition that began last year when varied culture-related programmes were organised in the city. He said this time round they intended to add more colour to the rich cultural life of Karachi. Dr Negwer said there was a time when the Goethe Institut existed in Lahore as well but due to budget constraints had to be closed down. He termed it a ‘wrong decision’ and said he’d want the institute’s activities to extend to Lahore and Islamabad. Highlighting the series of events to take place in the German Weeks, he said that the German jazz quintet, UNDERKARL, would display their talent on Sept 17. In Pakistan, he said, actor and musician Khaled Anam had been associated with the Germany-based Grips Theatre for the past 30 years. On Sept 28, Grips would present a play ‘Chhoti, Toti, Mota Aur S.M. Hamid’ to review Grips and Goethe Institut’s cooperation and to acknowledge Khaled Anam’s efforts. On Oct 1, distinguished names in Germany’s electronic music scene, DJ Brothers and Hannes Teichman, will be seen in action. On Oct 9, a concert commemorating the great music composer Richard Wagner will be held. The Goethe Institut has invited pianist Stephan Rahn and singer Judith Maria Mayer, along with a Pakistani musician Usman Anees, to perform on the occasion. The next day Kairas Kabraji will deliver a lecture on Wagner in connection with the famous Bayreuth Festival in Germany, followed by the screening of a Wagner opera. On Nov 23 and 24, a film festival has been lined up in which some famous German films will be shown. PRESS RELEASE

pakistan society of sugar technologists and shell unite to strengthen economic progress

RAWALPINDI: The Pakistan Society of Sugar Technologists (PSST) joined hands with Shell Pakistan to conduct the forty seventh annual convention bringing together stakeholders in one of the country’s key agricultural sectors. Part of PSST’s activities are educational seminars and conventions on sugar cane crushing, and regularly publishes material on technological improvements to benefit the industry as a whole. Shell invests billions in research and development of revolutionary fuels and lubricants, which provide customers with tangible socio-economic benefits through fuel efficient, quality products that are technologically tested to improve the quality and increase volume of output. Improving production capabilities translates into lowered maintenance costs and in turn savings for individual customers and the industry as a whole. Pakistan Society of Sugar Technologists: Was established in 1995 to encourage the development of the sugar industry, particularly in the face of rising challenges of low yield/productivity & lack of premium products. PSST has also worked consistently to increase overall production volumes by promulgating top quality production processes. PRESS RELEASE

Business community members visited DHL Express Pakistan recently. Photo shows DHL Express Pakistan Managing Director Sarfaraz Siddiqui with eminent businessmen and senior executives from Al-Wajid Enterprises, SGS, KATI, SAI Company (PVT) Ltd, InfoTech (Pvt) Ltd, Defence Residents Society & SAMEA, AlKaram Towel Industries (Pvt) Ltd, Din Group, Hilton Pharma and Petroleum Dealers Association & CNG Dealers Association. PR