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Wall Street eases on IBM, Intel; Chesapeake slumps Page 02
profit.com.pk
Thursday, 19 April, 2012
COMMENT
NOT THAT BOTHERED
India NTB about enhancing trade
When inflation intends to stay
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Local exporters still face multitude of non-tariff barriers Integrated check-post; loads of hype, little end product 10-wheel, 40-tonne Pakistani trucks restricted, scanners not functional g
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IMRAN ADNAN
espite opening of special trade gate at Wagha Border and tall claims of liberalising bilateral trade with india, local exporters are facing multiple nontariff barriers (NtBs) imposed by india in way of pakistani exports, pakistan today observes. pakistani exporters point out that the much talked about trade gate (integrated Check post) was opened at Attari on April 13, which encouraged the bilateral trade between two neighbours. But the indian government had restricted the movement of pakistani trucks by imposing ban on trucks having more than 10 wheels or 40 tons loading capacity. speaking to pakistan today, local exporters highlight that indian government has halted the movement of all pakistani trucks having loading capacity of more than 40 tons with a stroke of pen, which resulted in that a number of pakistani trucks having
loading capacity of more than 80 tons has stuck up at Wahga Border. they further point out that even after the delayed opening of trade gate, truck scanners installed at integrated Check post are not functional that created another hurdle in the way of pakistani exports to india. they believe that despite all government claims at both sides of the border, environment at Wahga Border is not conducive for business and trade as infrastructure is not efficient enough to handle the increased volumes of trade. pakistani is primarily exporting cement and gypsum to india through Wahga Border, but industry pundits in these sectors are also unhappy with the trade facilities on the other side of border. Cement industry gurus underscore that cement is one the major commodities that is abundantly available in pakistan and can be exported to india through this land route. But, most of the available transportation for cement has a loading capacity of more than 40 tons. they said availability of 10 wheeler trucks with a loading capacity up to 40 tons for cement
WHEAT PROCUREMENT
Harvesting hope Rs 209b required to procure 7.72MT wheat g Procurement to start on April 20 g Punjab needs Rs105.3b, Sindh Rs34.125b, KP 8.53b and Balochistan Rs2.62b g
ISLAMABAD
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sum of over Rs 209 billion would be required for procurement of targeted 7.72 million tons (Mt) of
wheat this year, well-placed sources told Online on Wednesday. the wheat procurement campaign on part of the federal and provincial governments for the year 2012-13 would formally start from April 20. Harvest of the country’s gold crop
is limited and this restriction will increase the transportation cost for not only cement but also for other commodities as well, resulting in the cement industry being unable to compete in india, they underlines. they further points out that indian authorities have already imposed numbers of NtBs, like license restriction, lack of infrastructure, etc., due to which cement industry is unable to perform. Now, another non-tariff barrier shall not help the industry to increase its exports and earn much needed foreign exchange for the country resulting is huge balance of trade deficit in favour of india. Official data available on the website of All pakistan Cement Manufacturers Association (ApCMA) shows the cement exports to india were around half million ton during 2011-12, while industry experts believed that once all NtBs were removed, pakistani exporters could swell cement exports to five million tons. Cement exporters point out that despite opening of separate trade gate only two 10-wheeler trucks loaded with cement
could cross border so far, while various cement consignments are waiting to cross border. this whole situation clearly indicates the infrastructure position, they added. A cement exporter on the condition of anonymity disclosed that earlier pakistani exporter had to bribe indian officials to get their consignments Customs cleared and unloaded in india and for that purpose they had hired indian to negotiate with local authorities. He pointed out that cement manufacturers lobby in india was so powerful that it influence its government department to delay pakistani exports, which ultimately increases export cost and made pakistani merchandise uncompetitive. He further revealed that indian government officials were so clever that they received bribe from both indian and pakistani businessmen on pretext of stopping or expediting release of merchandise. these all NtBs create hurdles of pakistani exports, he concluded.
has already started in low lying sindh and would commence in major wheat producing province punjab. According to the sources, four provinces in addition pakistan Agriculture storage and services Corporation (pAssCO) are busy making financial as well as logistics arrangements to ensure timely procurement of the grain of everyday consumption. “in punjab, farmers have cultivated wheat on 16 million acres aiming at produce of 19.2 million tons,” the sources said. “Likewise, sindh cultivated 2.5 million acres for target of 3.2 million tons’ production”, the sources added. According to the sources, punjab would require Rs. 105.300 billion to procure target of 4 million tons of
wheat. similarly, sindh to procure 1.3 Mt would need Rs 34.125 billion. Khyber pukhtunkhwa and Balochistan are looking for Rs 8.53 billion for 0.325 million tons, and Rs 2.62 billion to procure 0.100 Mt of wheat, respectively. At the same time, the federal government outfit pAssCO would be procuring a couple of million tons of wheat at the estimated cost of Rs 59 billion. “in this regard,” the sources added, “pAssCO has established 220 centers in 11 zones across the country to start its wheat procurement campaign for the year 2012-13.” Meanwhile a punjab government official told Online that the province would borrow the loan of Rs. 92 billion form the Bank of punjab for
sK any academic, policy maker or politician even remotely associated with economics about the one, sure kiss of death for a stagnant economy struggling with unemployment and the answer will be near about unanimous – inflation. And when M2 money creation outpaces GDp growth by 4-6 percentage points, Cpi is invariably on the verge of becoming the ‘un-bottled evil genie’ graduation text books warn of. And when almost all of that money has gone to government borrowing, as opposed to private sector offtake, the result is almost always disastrous. seeing as the only mega event to follow the budget will be the next general election (barring the unforeseen), the economic buildup following a supposedly people friendly budget does not seem encouraging for the incumbent government. it’s interesting that the state bank should attribute the poor state of affairs to “fiscal indiscipline” in islamabad, especially while its printing presses run overtime to feed unbelievable government addiction to debt. Add to that its inability to treat commercial banks’ chronic risk aversion, and its failure to channel greater liquidity towards private sector investment, and it comes out weak on both monetary stability and overseeing the banking sector. simply put, islamabad is bankrupt, and its aid lifeline is weakening, swelling a debt bubble that has already become unsustainable. there’s no doubt the finance ministry realizes what must be done urgently. Rising prices must be matched by increased production, and employment, otherwise the money multiplier will devastate the middle income group, further driving down productivity, and national income. However, for some time now we’ve seen both fiscal and monetary authorities paralysed when confronted with problems that can and will assume existential proportions if not checked. if inflation continues, and debt builds, and aid dries, and fiscal leakages continue, there are far worse times ahead.
wheat purchase. “Any grower applying for gunny bags will be entertained for maximum 200 jute bags or 400 polyethylene bags once during the first 15 days of procurement at the centre,” the official said. earlier, the federal government had set the procurement price at Rs 1,050 per 40kg along with Rs 7.5 per 100 kg wheat as delivery charges. Online broke the story a fortnight back that the government has fixed 24.2 million tons as overall production target for the current year. this year’s target is 0.8 million tons short of the last year’s total yield of 25 million tons. the federal government has also estimated annual requirement of wheat across the country to the tune of 24 million tons.
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Thursday, 19 April, 2012
news CLOSING DOWN
Wall Street eases on IBM, Intel; Chesapeake slumps
‘We might as well shut shop’ Rs 1.67 electricity tariff hike like a dagger in the hearts and wallets of industrialists: PIAF g Demands govt to withdraw hike, enhance power generation g
LAHORE STAFF REPORT
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AssiVe increase of Rs. 1.67 per unit in electricity tariff is not only antiindustry but anti-masses as well and is bound to give a big blow to the catastrophe-hit industrial sector. increase should be withdrawn immediately otherwise it would give a bad name to the government. While severely criticizing the unjustified increase in electricity tariff in the name of fuel adjustment, Chairman pakistan industrial & traders Association Front (piAF) engr. sohail Lashari and Chairman Auto parts Manufacturers & exporters Association Malik tahir Javed said that the recent hike in power tariff is bound to jack-up the manufacturing cost of pakistani merchandise and resultantly the country would become a trading hub. they said that instead of increasing power tariff, the government should concentrate on cheaper
NEW YORK
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REUTERS
tOCKs were lower on Wednesday after uninspiring from iBM and intel, while Chesapeake energy slumped after a Reuters report highlighted large and unusual personal loans taken by its chief executive. international Business Machines Corp (iBM.N) and intel Corp (iNtC.O) were the biggest drags on the . iBM missed its revenue forecast, while investors said intel’s results failed to make a “bull case” for the stock. the lackluster reports from the two technology heavyweights came at the start of what has been a strong earnings season. the s&p 500 had its best day in a month on tuesday as Coca-Cola Co (KO.N) led the day’s round of solid earnings and as concerns eased over the debt crisis. Bruce Bittles, chief investment strategist at Robert W. Baird & Co in Nashville, tennessee, expects the market to continue its back-andforth, possibly trending lower in the second quarter after strong gains earlier in the year. “A consolidation or correction phase in the second quarter would make the most sense, and probably it would be the most healthy thing for the market,” he said. Market breadth was worse than the relatively slight losses suggested in the late morning. On the New York stock exchange, two stocks declined for every one that rose. Chesapeake energy Corp (CHK.N) slumped nearly 9 percent to $17.40 after Reuters reported that CeO Aubrey K. McClendon did not disclose loans of as much as $1.1 billion over the last three years against his stake in thousands of company oil and natural gas wells. Chesapeake was the most actively traded stock on the NYse, outstripping even Bank of America
with its massive share float. “i think where there is smoke, there may be fire, and investors are still in a shoot-first mentality,” said David Lutz, a trader a stifel Nicolaus in Baltimore. the Dow Jones industrial average dropped 71.18 points, or 0.54 percent, at 13,044.36. the standard & poor’s 500 index was down 6.80 points, or 0.49 percent, at 1,383.98. the Nasdaq Composite index was off 17.60 points, or 0.58 percent, at 3,025.22. iBM lost 2.5 percent to $202.32 and intel fell 1.7 percent to $27.98. the pHLX semiconductor index .sOX declined 1.2 percent. According to thomson Reuters data, 22 companies in the s&p 500 were expected to report on Wednesday, including American express Co (AXp.N), Qualcomm inc (QCOM.O) and eBay inc (eBAY.O) after the close. Of the 56 s&p 500 companies reporting through Wednesday morning, 79 percent beat Wall street estimates. “investors should not overreact to positive news nor should they be overreacting to really what could be viewed as isolated earnings reports. One report does not make a trend, unfortunately,” said tim speiss, a partner at eisner Amper in
New York. Yahoo inc (YHOO.O) gained 3.1 percent to $15.47 after quarterly revenues rose in the first quarterly sales growth in three years, as the new CeO outlined plans to revamp the struggling internet media company. Halliburton Co (HAL.N) advanced 4.2 percent to $34.02 after the world’s No. 2 oilfield services company said North American revenue reached a record high. the pHLX oil service sector .OsX gained 1.1 percent. sXC Health solutions Corp (sXCi.O)(sXC.tO) will buy pharmacy benefit manager Catalyst Health solutions inc (CHsi.O) for about $4.4 billion. Catalyst jumped 31.2 percent to $83.43 and U.s.listed shares of sXC Health climbed 8 percent to $86.74. Genworth Financial inc (GNW.N) slid 22 percent to $6 and was the worst s&p 500 performer after the life and mortgage insurer pushed back the initial public offering of an Australian unit. Berkshire Hathaway inc’s (BRKa.N) Warren Buffett said he has stage 1 prostate cancer that “is not remotely life-threatening or even debilitating in any meaningful way.” Berkshire Class B shares (BRKb.N) lost 1.2 percent to $79.78.
IT secretary talks up e-banking KARACHI
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He rapid progress of ebanking in the country is a sign that pakistan is fast accepting globalization, said secretary it, Government of sindh, Muhammad sualeh Ahmed Faruqui on Wednesday. Addressing as the Guest of Honour at the euronet e-banking 2012, the 10th conference and exhibition organized by total Communications and supported by pseB and p@sHA, Faruqui said that while the progress is commendable, this advancement in the it sector should be utilized to facilitate the common people of the nation. “the change in the public sector is not as high as it should be, but the government is striving to achieve automation in the public sector offices. Apart from the federal government, the provincial government is also working to better equip the public sector,” he said. the secretary it also invited the private sector to show keen interest in the it City being established in Karachi, adding that land for this purpose has already been allocated and the government is now in its planning phase for the project. Nadeem elahi, Chairman, p@sHA said that the it industry is worth $2.8 billion in pakistan which is 1.2 percent of the Gross Domestic product (GDp). He said that while this is a positive figure, the local
industry has to go a long way as it has extremely high potential. He compared the local it sector to the region, particularly india, whose it industry is worth $60 billion and is worth 4.36 percent of their GDp. He also said that pakistan’s exports have increased and have touched over 200 million. Referring to branchless banking sector, he stated that at present internet penetration is 22 million, mobile users are 114 million whereas bank account holders are 25 million in the country, which highlights the growth opportunity that stakeholders of this sector have. He further said that software engineering is the only profession that has witnessed double growth in salaries in the past couple of years. He stated, “pakistan, in fact, has a shortage of qualified software engineers in the market”. During the conference, Jean-Louis Meyer, payment solutions Manager, Datacard, UsA, highlighted the opportunities and challenges being faced within the datacard solutions sector. He said that with Datacard solutions, instant issuance of permanent personalized debit and credit card is now possible. He said that earlier the process of issuing and activating debit and credit cards was extremely lengthy which had been reduced with the introduction of datacard chip. He said, “Datacard activation rate remains 15 percentage points higher among instantly issued cards
after 30 days”. 1 Link (Guarantee) Limited Chief executive Officer, Faisal ejaz Khan, during his presentation, said that there are 5,500 AtMs across the country and 14 million debit/ credit card users. He said that 1 Link strongly believes that “collaboration is everything” and therefore, keeping their motto in mind, 1 Link is looking to expand its partnership base. Khan said that pakistan has witnessed tremendous growth in branchless banking, ebanking, mobile payments, corporate payments and remittances- all of which has 1 link as their common stakeholder. Bilal Ahmed of Abacus Consulting, sAp and sybas gave a detailed presentation on his three company profiles and said that sAp is the largest software provider in the world, while sybase has the largest data centre in the world. Mohamed Mousa, Vice president and Managing Directo for Middle east, Africa and pakistan region, euronet Worldwide, singapore said the electronic funds transfer (eFt) outsourcing is a strategic choice that banks around the world are adopting today. He said that outsourcing is a popular choice for two reasons. One, he said, is cost saving as 10 percent costs are saved per AtM per month when operations are outsourced as compared to in-house running of AtMs. the second is transfer of risk, he said, as the bank does not have to directly deal with any risks involved in the eFt.
means of power generation including coal-based power generation and hydel resources. they also urged to government to curtail power theft and make the system more efficient. they said that the traders and industrialists would be left with no other option but to close down their businesses. they said that recent monitory policy of state Bank of pakistan has also revealed the gravity of situation while identifying stagnant economic activityone of the major factors. they said that economy was on the verge of collapse due to highest-ever inflation, financial deficit, increasing internal and external debts. they said that growth rate of manufacturing in pakistan was only 2.9 percent as compared to 7.7 percent in india, 6.1 percent in sri Lanka, 6.2 percent in Bangladesh and 9.7% in China. they demanded of the government to withdraw recent increase in electricity tariff and take concrete measures to enhance power generation in the country through hydel and alternate resources.
LNG LOTTERY
Gas import target # 119: Brunei BANDAR SERI BEGAWAN ONLINE
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AKistAN is looking into the possibility of energy exchanges, particularly importing Liquefied Natural Gas (LNG) from Brunei. this was said by pakistan’s new High Commissioner Designate to Brunei His excellency Major General (Rtd) Muhammad ijaz Hussein Awan recently, adding this is an area their country is looking forward to. “pakistan’s energy sector is really down and under. We have power outages and shortages. We are an energy hungry country at the moment and we are rarely coping with our energy resources and with basic needs,” he told the Brunei times. Currently, pakistan is importing Liquefied petroleum Gas (LpG) from other countries. However, there is a need for LNG and it knows that this is one product that Brunei is exporting to some countries. “the (LNG) is an important area to make up for the shortages, and i would like to interact with the energy Department and ask them what they
can do for the provision of LNG to pakistan, as part of the government’s plan to import LNG,” he said. “We would love to enter into some kind of energy exchanges with the Bruneian government if we can, and this is one area we are looking forward to,” His excellency added. On another front, the high commissioner designate spoke of a recent meeting he had with members of the Brunei-pakistan Friendship Association to improve relations. He said that one area was trade between two countries, and identified halal meat produce. “As pakistan has a very large market and produces halal meat at a very large scale, we want to join Brunei as partners in producing halal meat. We want to work with the relevant ministry in Brunei, and under its stamp, we are willing to work with it,” he said. His excellency went on to say when trade increases, interaction increases. “When there is more trade, more commonalities of interest and interaction, the relations will grow further,” he said.
MOTHER OF ALL SCAMS
FBR having the cake and eating it too Unraveling of NATO container scam reveals FBR collects additional Rs1 billion monthly g
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eDeRAL tax Ombudsman (FtO) Dr shoaib suddle has said that the Federal Board of Revenue (FBR) was collecting Rs one billion additional every month besides 60% decline in container scams since January last year when the FtO dugout NAtO supply container scam. He called it mother of all scams and said his office was proud of doing national service by saving billions of rupees of the national exchequer. He was delivering a keynote address at the seminar organized to sign a Memorandum of Understanding (MoU) between the Business Forum of punjab (BFp) and the FtO. president BFp ibrahim Qureshi and Advisor FtO Lahore region Haji Ahmed signed the MoU in front of the FtO, BFp top leadership, tax consultants, members BFp, businessmen and media on 18 April 2012, Wednesday afternoon at a local hotel. earlier, Chairman BFp syed Nabeel Hashmi said in his
address that transparency and professionalism was the hallmark of BFp and it was an implementing tool of reforms leading to prosperous pakistan. He expressed the hope that the MoU would to facilitate businessmen at large through the platform of BFp. president BpF ibrahim Qureshi briefed the guests about the structural organisation of the BFp, saying it was a very focused and professional forum to give solutions to the problems of business community. He said the district chapters of BFp have collected valuable business data from the respective districts during in last one year that would be shared with policymakers to formulate effective business policies. He expressed the hope that the BFp would be becoming a pakistan wide organization soon. the driving force behind the BFp and Chairman the pakpur Foundation Haroon Kh presented vote of thanks and advised the members to take benefit of mutual cooperation of FtO and the BFp in case they are harassed by the tax collectors under mala fide intentions.
A memento was also presented to the FtO Dr. shoaib suddle by the BFp president ibrahim Qureshi. Ms Ayesha Hamid moderated the event. the FtO Dr shoaib suddle expressed his pleasure to witness the signing ceremony congratulate Business Forum of punjab for wonderful job and thinking about issues common to business community. He said the basic task of the FtO is to facilitate tax payers by diagnose, investigate, redressing and rectifying the tax relating issues. “i am the ombudsman tax payers, and not the tax evaders,” he said, adding: “A sustainable economic growth is only possible through reasonably broadened tax base in a fair way and totally free of extortion.” He said the tax collection was a more critical function, as a country can only be run through taxes and not army and police. He urged the tax collectors to facilitate the taxpayers, as they generate taxes by applying best of their efforts and endeavours. He said the tax to GDp ratio has come down to 8.2 pc last year and is declining every year. the tax to GDp ratio cannot be improved without complimenting and synergizing our efforts like the one the BFp has done with the FtO, he added.
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Thursday, 19 April, 2012
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news SECP seeks comments on draft Synthetic and Rayon Companies Cost Accounting Records Order ISLAMABAD
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STAFF REPORT
He securities and exchange Commission of pakistan (seCp) has notified draft synthetic and Rayon Companies Cost Accounting Records Order, 2012, for the companies engaged in production, processing and manufacturing of any of the synthetic and rayon products. these products include viscose staple fibre in all forms including polyester fibre, viscose filament yarn, viscose tyre yarn cord and acetate yarn fibre. the companies manufacturing these products are required to maintain such cost accounting records, including all particulars relating to utilization of material, labour or other inputs of items of cost as would be necessary. to bring uniformity to the cost records and cost audit reports, the seCp has developed the draft order in consultation with the institute of Cost and Management Accountants of pakistan (iCMAp). Cost audit can only be an effective regulatory tool when the cost records are properly prepared and cost audit reports are made on a uniform format for a particular sector. the draft order has been placed on the seCp website for the information of all stakeholders, the public and the companies engaged in the synthetic and rayon sector, to seek their feedback, and comments received within 30 days of publication of notification will be considered before final issue. seCp strives to make right regulations in the interest of the industry, as a whole and also in the interest of the other stakeholders. Cost audit can provide relevant and credible cost and revenue data to the stakeholders to support their decisions. Cost audit mechanism acts as a measure of efficiency and performance. it can serve as an important tool for effective enterprise governance, competitiveness and strengthening the regulatory mechanism. seCp’s regulatory apparatus aims at promoting sustainable growth by fostering efficiency and transparency.
Uncle Sam orchestrates bull stampede, index up 173 points KARACHI
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STAFF REPORT
N Wednesday the bulls kept dominating Karachi stocks market with the benchmark, Kse 100-share index skyrocket 173.73 points. Ahsan Mehanti, Director at Arif Habib investments Limited, said that the pakistan stocks closed bullish on expectations for improvement on pakUs relations post opening of NAtO routes. the day saw the index closing up by 1.26 percent at 13937.95 points against 13,764.22 points of tuesday. the trading volumes at the readycounter were recorded lower at 261.515 million shares against 268.727 million shares of the previous day. the trading value was up to Rs 6.967 billion compared to Rs 5.295 billion of the previous session. the intraday high and low, respectively, stood at 13,964.61 and 13,734.22 points. He added that the higher global commodities and stocks, renewed foreign interest in oil and banking stocks on stronger earnings outlook ahead of major earning announcements due next week played a catalyst role in bullish sentiments at Kse despite concerns for worsening
security situation in the city. the market capitalization grew modestly and increased to Rs 3.575 trillion from Rs 3.529 trillion a day earlier. Of the total 366 traded scrips, 207 gained, 88 lost and 71 finished as unchanged. the free-float Kse-30 index also gained 177.55 points to close at 12,206.05 points against the previous 12,028.50 points. the Kse all-share index closed with a gained of 126.76 points to 9,802.39 points as against 9,675.63 points. Fauji Cement was the day’s volume leader counting its traded shares at 32.019 million with the opening and closing rates standingat Rs 7.11 and Rs 7.10, followed by Lafarge pakistan, D.G.K. Cement, Jahangir siddiqui Company and Azgard Nine with turnover of 25.368 million, 22.558 million, 18.546 million and 18.376 million shares respectively. On the future market, the turnover recovered remarkably by over 5 million shares to 19.946 million against 13.840 million shares of tuesday. the Unilever pakistan Limited and Nestle pakistan XD, up Rs 95.15 and Rs 53.79, led highest price gainers while, indus Dyeing and Rafhan Maize XD, down Rs 20.24 and Rs 17.86 respectively, led the losers.
Major Gainers Company
Open
High
Low
Close
Change
Turnover
UniLever Pak Ltd Nestle PakXD Pak Oilfields Island Textile Millat Tractors
5738.45 4326.06 372.19 242.11 500.05
5948.00 4443.90 380.99 254.00 510.00
5800.00 4310.09 373.00 230.01 501.00
5833.60 4379.85 379.68 248.34 506.00
95.15 70 53.79 16 7.49 1,779,174 6.23 373 5.95 15,973
Major Losers Indus Dyeing 404.85 Rafhan MaizeXD 2608.36 Sitara Chemical 118.80 Jubilee Gen.InsXDXB 56.41 National Refinery 243.91
384.61 2600.00 118.80 57.00 246.99
384.61 2581.00 112.86 53.61 241.00
384.61 2590.50 113.92 53.62 241.27
7.27 5.49 41.49 17.84 9.49
6.83 5.03 38.79 17.20 8.65
7.10 5.44 41.41 17.84 9.49
-20.24 93 -17.86 10 -4.88 44,750 -2.79 503 -2.64 39,427
Volume Leaders Fauji Cement Lafarge Pakistan D.G.K.Cement Jah.Sidd. Co. Azgard Nine
7.11 5.11 39.52 16.84 8.49
-0.01 32,019,644 0.33 25,368,907 1.89 22,558,019 1.00 18,546,066 1.00 18,376,958
Interbank Rates Us Dollar UK pound Japanese Yen euro
90.7064 144.8763 1.1136 118.6893
Dollar East US Dollar Euro Great Britain Pound Japanese Yen Canadian Dollar Hong Kong Dollar UAE Dirham Saudi Riyal Australian Dollar
Buy
Sell
90.80 118.04 143.34 1.1185 89.84 11.55 24.65 24.15 93.03
91.30 119.10 144.59 1.1282 91.13 11.71 24.84 24.33 95.30
CORPORATE CORNER PTCL launches 3G wireless Broadband services in Rawat industrial area
for it to be featuring in the exhibition. ChenOne is considered among the most famous lifestyle brands of pakistan which is gaining an immense recognition in other countries as well, with 4 stores in UAe and another 2 in saudi Arabia. Currently the globally acclaimed brand has 20 of its ChenOne lifestyle stores in 15 major cities of pakistan providing international standard style products with a commitment towards quality. PRESS RELEASE
Al-Razi Healthcare launces Lahore’s first world class TB testing lab ISLAMABAD: pakistan telecommunication Company Limited (ptCL) has recently launched its 3G eVO Nitro wireless Broadband service in the Rawat industrial estate, near Rawalpindi. president Rawalpindi Chamber of Commerce & industries (RCCi), Mr. Javed Akhter Bhatti inaugurated the state-of-the-art wireless Broadband services of ptCL eVO Nitro in a colorful ceremony held at RCCi industrial estate, Rawat. ptCL’s executive Vice president estate Management, Mr. Kanwar Ghulam Mustafa and General Manager Wireless, Mr. Wajeeh Anwer, were also present on the occasion. “ptCL’s 3G eVO wireless Broadband is the only wireless Broadband network providing Rev A and Rev B connectivity in pakistan,” said ptCL eVp, Mr. Kanwar Ghulam Mustafa while addressing local industrialists gathered on the occasion. “it gives unlimited data volume downloads in unlimited usage packages while giving consumers a superior 3G experience.” president RCCi, Mr. Javed Akhter Bhatti thanked ptCL for connecting the Rawat industrial estate with 21st century’s global information super Highway, noting that it will yield a much-needed boost in Rawat’s industrial productivity. PRESS RELEASE
LAHORE: With the increased incidence of MDR-tB and the emergence of XDR-tB, laboratories have to handle many dangerous strains. Biosafety conditions should therefore be stringent to help reduce transmission of this disease amongst laboratory staff, as well as the public at large. the facility has attained isO Certification (isO 9001:2008 and 9001:2001) for diagnostic healthcare, including its pathology laboratory and radiology services, and already has over 30 medical experts working under the Al Razi umbrella. in addition to medical diagnostics, the facility will soon be expanding its suite of services including ambulatory care and advanced laparoscopic and minimally invasive surgical procedures. PRESS RELEASE
Business Ideas Competition 2012 at FAST LAHORE: the third edition of Business ideas Competition 2012 (BiC 2012) was organized by Best practices - FAst Business Club on 6th and 7th of April 2012 at the FAst school of Management, National University of Computer & emerging sciences, Lahore. this 2-days annual entrepreneurial challenge was sponsored by Coca-Cola Beverages pakistan Limited, packages Limited, pakistan today and Masoom’s Bakers. the enthusiastic participation of more than 30 teams from all over the country made the event an exciting one. participants presented business ideas in three themes i.e. e-businesses, energy businesses and Agri businesses. these themes were specifically selected keeping in view the country’s existing socio-economic outlook, challenges and opportunities as ideas presented in these specific areas have the potential to achieve economic prosperity and respond to different crises. PRESS RELEASE
LAHORE: Mr Naeem Yahya Mir, Managing Director & CEO, PSO met with company’s sales force on the occasion of National Sales Conference. The objective of conference was to boost the morale of the sales force and exchange views on sales, marketing and other industry related issues. On this occasion the MD&CEO also shared his vision for the company with the sales team. PRESS RELEASE
ISLAMABAD: Management Association of Pakistan awarded its most prestigious “Corporate Excellence Award” to Indus Motor Company. Picture shows Dr. Abdul Hafeez Shaikh, Federal Minister for Finance (center), presenting the award to Salim Azhar, Director HR and LAC, Indus Motor Company (left). Also present is Kamal A Chinoy, President, Management Association of Pakistan. PRESS RELEASE
ISLAMABAD: Mr Khurram Noor – Emaar Pakistan alongwith his team at the Villa Handing Over Ceremony at Canyon Views. PRESS RELEASE
Mr Inam Akbar chairman Midas Pvt Ltd receiving APNS Award for the year 2011 as the largest advertising agency of the country from the President of Pakistan Mr Asif Ali Zardari at Awan-e-Sadar on April 16,2012. PRESS RELEASE
KARACHI: Mr Khurram Sayeed, Director Pak-Iran Business Council of FPCCI and Chief Executive, Iran-Pak Wind Power (Pvt) Ltd delivering his keynote address at the Seminar on “Promotion of Bilateral Relationships between Pakistan & Iran” Organized by the Pakistan-Iran Friendship Association at the Iran Consulate. PRESS RELEASE
India gets a sense of Pakistani style with ChenOne’s Pareesa KARACHI: From clothing lines to home furnishings to accessories - more than 100 pakistani companies are set to showcase their exquisite collections at a four-day Lifestyle pakistan exhibition, the first such to be held here from April 12. participants hope it will boost trade between the two nations. this jointly organized exhibition aims at opening up direct trade between the two nations and also intends to familiarize indian markets with high end quality and lifestyle products from pakistan. since in pakistan the brand ChenOne rings synonymous with everything that is lifestyle therefore it was must
KARACHI: NIT’s kiosk campaign at a local hotel to create public awareness about NIT funds. PRESS RELEASE