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It’s the final countdown
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profit.com.pk
Friday, 20 April, 2012
cOMMENT
Spanner in the works
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THE MISSING LINK
It’s not just any port in a storm NA body for making Gwadar Port functional Recommends allocation of Rs 8 billion for road infrastructure linking to the port NHA covers the bases in terms of construction work g
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ISLAMABAD
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he National Assembly Standing Committee on Ports and Shipping, Thursday, appealed to ensure maintenance of law and order in Balochistan to make Gwadar Port functional. Committee also recommended allocation of Rs 8 billions funds for the completion of road infrastructure linking Gawadar Port to the rest of the country. Gwadar Port Authority (GPA) demanded of release of Rs 350 millions for maintenance of dredging channel, however, Finance Division raised the objection on the demand arguing that GPA’s expenditures were higher by many times than earning. Committee members also questioned transparency in agreement of leasing Gwadar Port to Singapore Port.
NA body also summoned Chief Minister, Chief Secretary, Inspector General Police Balochistan and Divisional Inspector Generals of restive districts to next meeting scheduled to be held in next month to brief the committee on possible steps for ensure law and order in disturbed districts. The Standing Committee met here under the chairmanship of acting Chairman Khawaja Sohail Mansoor to discus comprehensive plan of action in cooperation with Communications and Finance Ministries for development of Gwadar Port on priority basis. National highway Authority (NhA) Member Construction Aurang Zeb Khan briefed the house that constitution work on roads linking Gwadar Port to other areas of the country was almost stopped due to worst law and order situation in Panjgore, Turbat and Khuzdar and few others districts. “even, local contractors from Balochistan are not willing to carryout
construction projects in those areas” he said adding that moreover, Finance Division was not releasing allocated funds so development work on ongoing projects would also be closed by the end of this month. he further apprised the committee that Frontier Works Organization (FWO) had been mobilized for development work on KhuzdarRatodero section, but worst law and order situation was hampering contractors for carrying work. To a question from the panel of lawmakers, he observed that NhA and GPA officials held two meetings with Chief Minister Balochistan over the issue of law and order situation, but no positive development had been made so far. however, he maintained that NhA could complete road infrastructure linking Gwadar Port to other areas in 2013, provided with required funds. NA body while showing concerns over delayed completion of roads and
THROWING TOYS OUT OF THE PRAM
Textile tantrums, Act 5, Scene 11 Exposure of Pak textile to Indian exports will play havoc sooner than later: APTMA chairman g Mohsin Aziz moans about (insert stereotypical issue), whines about (insert over-hyped problem) g
LAHORE
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STAFF REPORT
hAIRMAN All Pakistan Textile Mills Association (APTMA) Mohsin Aziz has said the declining textile exports amidst unbearable interest rate regime and exposure of local industry to the Indian textile exports under normalization of trade arrangement would play havoc sooner than later.
expressing his concerns, he said there is a worrisome decline in textile exports both in value (22%) and quantity terms in March 2012 comparing with the corresponding period, slashing down overall exports by $1 billion during first nine months of current fiscal year against same period last year.Chairman APTMA lamented that textile industry was fast losing its strength in a situation when talks on Indo-Pak bilateral trade are near to finalization without addressing the concerns of APTMA.
he said it is quite amazing that yarn and synthetic fibre are put in positive list whereas the Polyester Staple Fibre (PSF), the raw material for syntheticsbased textile products, has been placed in the negative list. According to him, the government should ensure level playing field for cross border trade by equalizing not only import duties but domestic duties as well. For example, he said, the duty inclusive taxes on yarn is over 25% in India as against 10% duty on synthetic
highways linking Gwadar Port to other areas, recommended allocation of Rs 8 billions for NhA to be spent purely said on road infrastructure in next PSDP. GPA Chairman demanded support from the committee in allocation of Rs 350 millions for maintenance of dredging channel saying that as per agreement with Singapore Port Authority, maintenance of the port was responsibility GPA, and committee recommended immediate release of required funds, but Finance Division representative contracted the GPA demand on account that expenditures of PA higher by many times than the earnings. At this members of the committee questioned into the justification for signing such an agreement of losses with Singapore Port Authority, but MQM members defended the agreement saying that no other company or firm had participated in bid, so accord was signed with Singapore Port Authority.
and zero percent duty on cotton yarn in Pakistan. Further, he said, the PSF should also be in the positive list with same duty structure. And if not, then the synthetic fibre and yarn should also be in the negative list. Mohsin said that in order to give Pakistan industry a fair chance for enhancing exports and also allowing India to enter in export to Pakistan on a level playing term. Otherwise, he said, it would lead to opening up of flood gates for Indian exports while Pakistan will not be benefiting from these new arrangements. he said exclusion of PSF from the negative list of items not importable from India is necessary to ensure provision of this basic raw material to the textile industry specially in the present scenario of acute domestic demand-supply shortfall of more than 150,000 tons due to the complete shutdown of Dewan Salman Fibres
T is noted with serious concern that counter productive and possibly deliberate bottlenecks on the Indian side threaten to put the classical spanner in the works with regard to the muchtrumpeted trade liberalisation process. And that too even before it has properly begun. It cannot be stressed enough that this exercise must not be allowed to degenerate into non-significance reminiscent of CBMs Mr Manmohan Singh initiated with General Musharraf. Then, too, it was New Delhi’s reluctance to incorporate the agreed advance to debating politically contentious issues once popular goodwill was established that wasted diplomatic and financial efforts. News reports of ridiculous new restrictions on Pakistani exports – uninformed bars on tonnage, etc – that jack up transportation costs clearly indicate New Delhi’s inability to tame influential lobbies. Clearly India’s cement industry remains politically powerful, obstructing Pakistan’s best bet long enough to render it uncompetitive. And since such absurdities were obviously not part of the negotiations, all else remaining constant, they betray cunning that is not only not chivalrous, but also in poor diplomatic taste, not to mention downright illegal. Islamabad should respond, but not in kind, for the sake of the last few months’ diplomacy, if not the face value of Anand Sharma’s remarks recently, that we must do this for our children, etc, etc. There is clearly a wedge right at the heart of Delhi’s decision making machinery, a tug of war between those forever locked in a senseless confrontation from a bygone era, and those that look to move ahead for mutual benefit, just as we have here. It’s the side that shows most support for progressive elements across the divide that will do both a huge favour. If the high, and low, of the recent past prompts a suggestion, it’s that Pakistan and India must keep talking, preferably at the highest level, and remove irregularities personally, at least initially.
Limited, one of the largest PSF manufacturers of the country. exclusion of PSF from the negative list assumes an added urgency in view of the fact that value-added items of PSF are not on the negative list and are freely importable from India and as such a situation whereby value-addition in the country is discouraged. Chairman APTMA said in spite of energy shortage and supply-side constraints the textile industry still manages to be internationally competitive. With the patronage of Ministry of Commerce we welcome the opening up of trade between the two countries and only wish for equitable and fair trading terms, he said, adding: To secure these terms we look forward to the Ministry of Commerce and urge to take up the issue with Indian Counterpart and also with the Ministry of Finance and Federal Board of Revenue to provide level playing field to the local industry.
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news RESTORING INVESTOR cONFIDENcE
Former finance minister still vying to move the economy forward Shahid Javed Burki wants Pakistan to take long-term measures for a change g Says private sector needs space, talks up regional integration g
ISLAMABAD
F It’s the final countdown PROTEST
IPPs give 10-day final notice to government over payment of dues worth Rs 34 billion Plants to shut completely by May 2, 2012 g
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KARACHI STAFF REPORT (
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hile the power shortages in the country have intensified after the shortfall climbed to over 6000 megawatts, the representatives of at least eight independent Power Producers (iPPs) on Thursday have submitted their final 10-day notice to the government seeking the clearance of their outstanding dues of Rs 34 billion. According to sources, the notice of sovereign guarantee is to end on May 2, 2012, after which they will shut down their plants as they will be not in position to buy more fuel to run the plants. earlier, these 8 iPPS served the initial notice to the government for their payments of Rs 34b which PePCO had failed to pay within the prescribed time. Sources in the advisory council of these 8 iPPs informed that they will also serve the final notice of other dues of Rs 9 billion to the government,for which they have already served the initial notice on April 2. Moreover, sources informed, on 12 May 2012 the
iPPs will also serve a final notice for the payment of Rs 4 billion. “So, one can guess how difficult it has become for iPPs to run their operations smoothly,” sources added. ironically, the government instead of clearing such outstanding dues kept asking the iPPs to withdraw their notices. Despite a number of meetings between the representatives of iPPs and Ministry of Water and Power along with Finance Division before submitting the final notice, the government is still nonchalant towards the financial woes of the iPPs, which are producing around 1650MWs to help the government curb energy crisis. Since the government has constantly been ignoring the implications of possible sovereign default by not responding to the notices of iPPs, it is no wonder that the country’s energy crisis will deepen further once they shut down their units. it may be noted here that last year on May 13 total 4 iPPs served notices to the government on the non-payment of Rs 16.43 billion. And now this year, both the number of iPPs and due payment got doubled
owing to the indifference of the government towards country’s energy issues. Pepco is the power purchaser that has failed to clear its dues within the agreed period for power supplied to it by iPPs. As the government of Pakistan was the sovereign guarantor, the iPPs after exhausting all legal avenues including serving notices to Pepco, invoked the guarantee. The non compliance on these notices, it must be noted, would be the first step towards sovereign default on the part of the government. This will also create ample hurdles for the government to invite new iPPs in the country in near future. Besides, the country’s rating would nose down and no foreign bank would entertain Pakistan’s letter of credits, which will take hefty toll on the country’s exports. in total, the government has to pay Rs 113 billion to 18 iPPs that include hubco, Kapco, Attock Gem, liberty Power, UCh, Nishat Power, Atlas Power, Nishat Chunian, liber Power Tech, AeS Pakgen, Rousch, AeS lalpir, Saif Power, Saphire Power, Fauji Kabir, Orient, Kel, and halmore.
NA body calls for transparency in 3G license auction ISLAMABAD
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ONLINE
parliamentary panel on Thursday expressed their serious concerns over non-competitiveness in the much-awaited auction of 3G license and constituted a subcommittee in this regard to ensure transparency in the auction. Meeting of the National Assembly Standing Committee on Information Technology was held here under the chairmanship of Ch Muhammad Barjees Tahir to discuss the 3-G policy in the country whether 3 G auction went through competitive process. Chairperson of Competition commission of Paksitan Rahat Konain briefed the committee about competitiveness in process of 3 G auction but committee showed resentment over the briefing and directed Chairperson CCP to give details about preparation and consultation with all stake holders. Members said that chairperson don’t have facts regarding the matter. During the meeting secretary Information technology and telecommunication told that new policy for the auctioning of 3G is under process and auction would be done on previous policy. Standing committee showed
concern over the information that how auction could be done over expired policy. Chairman of the committee Barjees Tahir said that how can the auctioning be fair and transparent under the umbrella of expired policy. Sardar Talib Nakai asked about the qualifications of new telecom operators which would take part in the auction process of 3G in the country and said that auctioning of 3G spectrum without any new policy is not good. Pakistan Telecommunication Authority and Ministry of information technology and telecommunication put the responsibility on each other about the formulation of policy for 3G auctioning. Chairman said that PTA and ministry have differences over this small issue then how the process of 3 G would be fair and transparent? humayun Saifullah said that ministry of information technology and telecommunication has wasted the time and remained unable to hire the services of a consultant during four years. Member of the committee Sardar Muhammad Shafqat hayat said that every person has information that government is ready to award 3G license to Mobilink and Zong so after that why this process is being adopted for auctioning?
Barjees Tahir said that 3 G auction process seems like it would be the new big scandal of corruption in the country. he said that it is not minor thing as this matter is of about 50 billion rupees. At this chairman constituted a sub-committee under the supervision of Anusha Rehman to see the auctioning process of 3G in the country. Secretary Privatization Amjad Ali informed the 3G auction is not mandate of privatization commission while humayaun Saifullah said that spectrum is the asset of government and privatization commission should be involved in it. Chairman of the standing committee also quizzed the PTA officials that why they are using delaying tactics and creating hurdles in the Pakistan telecommunication bill 2010 presented to stop the grey trafficking in the country. Chairman said that annually billion of rupees lost due to grey trafficking in the country and PTA is doing nothing in this regard. he said there is immediate need to do legislation in this regard. Chairman Barjees Tahir constituted sub-committee to discuss the bill of humayaun Saifullah about grey trafficking and directed the committee to submit its report on immediate basis.
STAFF REPORT
ORMeR Finance Minister Shahid Javed Burki said on Thursday that crises of governance, rent seeking culture and corruption has increased in the country and the only way forward is to curb these evils for restoring investor confidence for the revival of the economy. Delivering his key note address at a seminar titled, “Pakistan; Moving the economy Forward”, organized by Pakistan Institute of Development economics (PIDe), he said in the past Pakistan always took the short term measures to respond to any crisis that hit the economy. Pakistan always depended on foreign assistance instead of devising long term strategy. he suggested
OH I SEE
Establishing the echo chamber OIc trade coordination centre to be established at LccI g Members should ratify PTAs, FTAs, facilitate intra OIc-trade: President LccI g
LAHORE STAFF REPORT
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N OIC Trade Coordination Centre will be established at the LCCI to facilitate contacts between the Chambers of the member countries. This was stated by the LCCI President Irfan Qaiser Sheikh while addressing a Press conference here in the Lahore Chamber of Commerce and Industry. LCCI Senior Vice President Kashif Younis Meher, Convener OIC Committee husnain Reza Mirza and Co-Convener Mehmood Ghazanvi also spoke on the occasion. The LCCI President said that at the recently held OIC Ambassadors Conference, it was approved that the Lahore Chamber of Commerce and Industry would be used as the Secretariat of this Coordination Centre while the Ministry of Foreign Affairs will formally inform the OIC and ICCI headquarters and will get it
Pakistani businesses can’t ignore Facebook anymore! FAtIMA tASSADIq
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that to build the confidence in economy the next government should have some strategic framework for sustainable economic growth. Currently Pakistan economy is facing trust deficit as no one is ready to invest in Pakistan so first and foremost is the confidence building. he stressed creation of a system of accountability that could give message to the people that those sitting on decision making positions would make decisions on merit. About sustainable economic growth he said it could be achieved only if more space was provided to private sector to work and establishment of a regulatory system to provide protection to citizens instead of rent seeking. Pakistan should focus on regional integration, and increase trading with neighbor countries like India and China which could add up to 2-4 percent in growth rate.
OCIAL media is the next big thing in the world of marketing. Social media platforms have changed the way people browse the internet and communicate with each other. This revolution in the means of communication and information sharing together with the staggering number of people who are drawn to social media makes it impossible for brands and businesses to ignore these networks. In Pakistan alone there are over 6 million Facebook users. In fact, Facebook acquired a million users in the last six months alone. You just can’t go wrong with tapping such a platform for marketing initiatives. Social media savvy people in turn are increasingly turning away from traditional means of marketing to the more personal and relationship based form of marketing afforded by social media networks. This trend is validated by a recent survey conducted by an upcoming social media marketing company called B Solutions. This research reveals that most shoppers frequenting some of the most popular shopping hubs in Lahore are enthusiastic Facebook users. And not only do they use Facebook to connect with friends and while away time, they also actively engage with brands through this network. Check out the infographic below to see for yourself!
confirmed by the OIC Council of Foreign Ministers (CFM). Irfan Qaiser Sheikh said that the OIC Ambassadors had also recommended an economic summit of the OIC Countries involving the private sectors should also be arranged three to four months time. he said that the summit would consider setting up of single currency, a common bank and a trading bloc on the pattern of european Union that would be a great achievement by all means. The LCCI President said that it was also recommended that the OIC members should ratify and make operational the Preferential Trade Agreements (PTAs), Free Trade Agreements (FTAs) and facilitate intraOIC trade for the establishment of OIC common market. The Ministry of Foreign Affairs, government of Pakistan, will also request to the Islamic Development Bank to financially support the research projects of the Lahore Chamber of Commerce and Industry.
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Friday, 20 April, 2012
03
news The economy could do without the new ministries, says PEW ISLAMABAD ONLINE
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AKISTAN economy Watch (PeW) criticized government’s move to create new ministries and induct eleven new ministers and termed it a political decision which will be burden on national economy. President of PeW Dr Murtaza Mughal said on Thursday in a statement issued from his office that government will has to take additional barrowing for catering the expenditures of the newly inducted ministers , which would increase the price-hike in the country. “Government is overburdening the masses to gain political mileage. Some 53 federal and state ministers will only help further damage the credibility of incapable ruling coalition”, said Dr Mughal. he said that the problems of people will continue to multiply as government seems only interested in strengthening their tyranny which they call democracy. he said that a property dealer has been entrusted to run IT ministry where Rs 60 billion in the Universal Support Fund may be misused. Another person who played important role in ensuring food insecurity in Pakistan has been given the charge of Capital Administration and Development Division.
MFN status for India under reconciliation policy: Manzoor Wattoo DEEBALPUR: Minister for Kashmir Affairs Mian Manzoor Ahmad Wattoo said Thursday government will pay stipend of Rs 5000 per month to unemployed graduate and Rs 10000 to unemployed post graduate under Benazir Income Support Program (BISP). he said this while talking to media men after inaugurating a project of Rs 10 million in 40-D. This was first democratic government in the history of Pakistan which would complete its tenure of 5 years, he observed. “World needs reconciliation policy at present and PPP has taken along all parties by pursuing such policy”, he held. More powers have been devolved to provinces so that federation remains strong, he added. Status of Most Favored Nation (MFN) to India under this reconciliation policy, he said. Normalcy is returning in relations with neighboring country, he added. Those who talked of pulling down government had become glum spectators now, he underlined. ONLINE
The return of the profit-taking bears KARACHI
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STAFF REPORT
AKISTAN Stocks closed lower in the earnings announcement session at KSe as investors await announcements on revised CGT regime. Viewed by Ahsan Mehanti, Director at Arif habib Investments Limited. The Karachi Stock exchange (KSe) 100-share index declined 8.48 points or 0.06 percent to close at 13,929.47 points as compared to 13,937.95 points of the previous session. The KSe 30-share index shed 26.27 points to close at 12,179.78 points as compared with 12,206.05 points. The market turnover remains positive and traded 307.931 million shares after opening at 261.515 million shares. The overall market capitalization declined 0.05 percent and traded Rs 3.572 trillion as against Rs 3.575 trillion. Losers outnumbered gainers 141 to 166, while 75 stocks were unchanged. Mehanti added “Stronger corporate earnings in oil and cement sectors invited limited institutional support. Concerns loomed over uncertain economic outlook and limited foreign interest as global commodities showed falling trend.”
The KMI 30-share was down by 33.39 points to close at 24,061.12 points from its opening at 24,094.51 points. The KSe all-share index closed with a loss of 7.48 points to 9,794.91 points as against 9,802.39 points. Azgard Nine was the volume leader in the share market with 45.303 million shares as it closed at Rs 9.34 after opening at Rs 9.49, gaining 15 paisas. Bank Al-Falah XD traded 30.260 million shares as it closed at Rs 16.90 after opening Rs 16.06 gaining 84 paisas. Jahangir Siddiqui Company Limited traded 26.167 million shares as it closed at Rs 18.83 from its opening at Rs 17.84, increasing Rs 99 paisas. D.G.K Cement traded 20.827 million shares and closed at Rs 43.32 as against its opening at Rs 41.41, rising 1.91 paisas. Fauji Cement traded 19.463 million shares as it closed at Rs 6.88 as compared to its opening at Rs 7.10, decreasing Rs 22 paisas. On the future market, the turnover decreased to 18.485 million against 19.946 million shares of Wednesday. The Rafhan Maize XD and Unilever Pakistan Limited and, up Rs 127.38 and Rs 96.40, led highest price gainers while, Nestle Pakistan XD and, Attock Petroleum XD down Rs 61.40 and Rs 13.30 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
90.7085 145.6506 1.1118 119.1274
Dollar East US Dollar Euro Great Britain Pound Japanese Yen Canadian Dollar Hong Kong Dollar UAE Dirham Saudi Riyal Australian Dollar
Buy
Sell
91.00 118.97 145.39 1.1060 90.94 11.57 24.70 24.20 93.24
91.60 119.99 146.60 1.1152 92.20 11.73 24.88 24.37 95.47
CORPORATE CORNER Google Funds Technology for the People Initiative at LUMS
man Dawood School of Business, LUMS who is heading the program. The project has been designed to better understand to what extent universities in Pakistan are currently equipped to engage with industries and the communities. PRESS RELEASE
Mobilink redefines youth empowerment with new ‘Jazba’
LAHORE: Lahore University of Management Sciences (LUMS) is launching a new Technology for the People Initiative (TPI) at LUMS, funded by Google Inc. The initiative aims to develop technology solutions that are relevant to the socio-economic context of Pakistan, in the domains of public policy, governance, citizen services and improvement in quality of life. LUMS already has a portfolio of technology-oriented R&D projects. The goal of this initiative is to bring these activities on a single platform, to leverage their synergies for multiplier effect, and to initiate new projects in these domains. “We’re pleased to be supporting this new initiative focused on technological solutions to social issues in Pakistan,” said William Fitzgerald, of the Public Policy and Government Affairs team at Google, speaking at the launch of TPI at LUMS on Wednesday. PRESS RELEASE
citi and The citi Foundation launch phase 1 of ‘Project change’ KARACHI: Citi Pakistan and the Social enterprise Development Centre at LUMS are collaborating on a capacity building project, which aims to create stronger linkages between higher education institutions and the industry. This project is supported by af $50,000 grant from the Citi Foundation. ‘This program is another initiative by Citi-LUMS to bolster academia-industry linkages in Pakistan and improve employment opportunities for our youth. This year marks Citi’s 200th year globally and we are optimistic that such a community project will reiterate over 50 years of commitment to Pakistan and further strengthen our longstanding partnership with LUMS,’ said Aliuddin Ahmed, Acting Country Officer for Citi Pakistan. “The idea behind the project is to make higher education more relevant for the industry and the community, so that graduates are more marketable and adds greater value to society” explains Dr. Syed Zahoor hassan, Professor at Sule-
LAHORE: 19 April 2012: Mobilink has revamped the persona of ‘Jazba’, its vibrant and spirited youth brand, which now aims for a more focused approach towards the individuality, passions, values, aspirations and potential of Pakistan’s youth. The revamped persona of Jazba, was announced with the launch of a new brand vision for the youth of Pakistan, i.e. ‘Juro Gey to Jano Gey’, which is based on the idea of ‘Unlocking the Unknown’, in other words committing to one’s passion to discover possibilities. The launch was also accompanied with the announcement of Atif Aslam as the new face of the brand, with his persona and passion reflecting the redefined vision and brand attributes of Jazba. Jahanzeb Taj, Vice President Marketing, Mobilink, emphasized, “The Jazba brand was launched as a tribute to values that are both personal and universal emphasis. This revamp of our brand vision promises to now both empower and enable the youth of Pakistan through the medium of mobile communication. The youth of this country are the pride and future of Pakistan, and the new Jazba promises to help them express their individuality as a means of self-discovery and growth.” PRESS RELEASE
Another milestone for chenOne LAHORE: Pakistan’s famous lifestyle store, ChenOne marked another milestone with the premiere launch of Neo Classic, another remarkable and strikingly exquisite furniture collection at ChenOne DhA & Gulberg Lahore. This ace collection of furniture brings the style and panache of imperial living to the hearty people of the city. 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 almost all major cities of Pakistan providing international standard style products with a commitment towards quality. ChenOne offers its consumers a progressive lifestyle choice by presenting them with a complete genre of trend, mood and craftsmanship in furniture, bed linen, kitchen accessories, crockery, bathroom accessories, decorative accessories and much more, making it an absolute divine one stop-shop solution for everyone. PRESS RELEASE
TelecON-2012 discusses technological need of the country LAHORE: Telecom specialists and distinguished speakers at the 5th Pakistan TeleCON-2012 conference presented progressive ideas for deployment of NextGeneration technologies in the Telecom sector of Pakistan, to enable swift economic growth, reach un-served areas of the country and encourage a new knowledge-based young Pakistani generation to tackle national issues and challenge global frontiers. The theme of the conference held in Karachi, was “Riding the wave of Technology and Consolidation”. Dr. Muhammad Yaseen, Chairman, PTA delivered the keynote address and urged the specialists to devise solutions for streamlining and enriching the Telecom infra-structure with global advancements. he provided inspiration for a paradigm shift in service excellence, opportunities for embracing new technology and effective regulations. Former Minister for Science and Technology - Mr. Javed Jabbar, and the Chairman of Pakistan Software houses Association (P@ShA) - Mr. Nadeem elahi along with the Member Technical of PTA - Mr. Khawar Siddique Khokhar, acted as the chairpersons during the various sessions. PRESS RELEASE
pleted in Rawalpindi, Peshawar & hyderabad. In this series of seminars, one was held at TDAP head office Karachi on 19th April 2012. Dr. Manzoor Ahmed, Pakistan Former Ambassador at WTO, Geneva delivered a comprehensive Presentation on Trade Normalization with India. he provided an overview of the potential sectors of Pakistani exports to India including textile & clothing, automobiles, ethanol, surgical goods, sports goods, cement, electric fans & plastic goods. The Seminar was well attended by representatives from the business fraternity of Karachi including Chairmen of various Trade Associations. They shared their views on tariff & non tariff barriers, visa policy, communication gap and other issues faced by the exporters while trade with India. The participants appreciated TDAP’s endeavor for organizing such fruitful interactive session for the facilitation of business community of Pakistan. Such informative session would go along way in reviewing wrong perception about Trade Normalization with India. STAFF REPORT
GIKI students develop new thermostat for geysers LAHORE: Students of the GIK Institute of engineering Sciences and Technology (GIKI) have developed an innovative electric thermostat, which can save huge energy that is being wasted by inefficient conventional geysers. GIKI students, Abdul Moeed Niazi, Khurram Chohan, Muhammad Junaid and Waleed Saqib have developed this electronically controlled thermostat for natural gas geysers under the supervision of GIKI Department of electronic engineering Associate Professor Dr M Junaid Mughal. Students said that conventional geysers were common in almost all households and it seemed that they would not become obsolete in near future. PRESS RELEASE
LAHORE: ZONG has entered into an agreement with Lahore Electric Supply Company (LESCO) for providing mobile cellular services. Picture shows Ali Kamran, Director Corporate Sales, ZONG and Sharafat Sial, CEO, LESCO exchanging documents after signing the MoU. PRESS RELEASE
TDAP organises seminars on ‘awareness campaign on normalisation of trade with India’ KARACHI: Ministry of Commerce & Trade Development Authority of Pakistan in collaboration with all Chambers of Pakistan is organizing series of ten (10) Seminars on “Awareness Campaign on Normalization of Trade with India” in various cities of Pakistan including Karachi. The objective of the Seminar was to focus on India as a potential market for Pakistani exports. Similar Seminars have successfully been com-
ISLAMABAD: Syed Arsalan Hashmi, Executive Director, Orient Advertising (Private) Limited, is receiving APNS award from President, Asif Ali Zardari. PRESS RELEASE