PRO 29-12-2012_Layout 1 12/29/2012 12:36 AM Page 1
OGDCL vies to excavate hope from Nashpa Plans development schemes for communities at the oilfield ISLAMABAD
T
APP
HE public sector companyOil and Gas Development Company Limited (OGDCL) has planed to execute soon a number of projects for development of local communities living around Nashpa Oil Filed at district Karak. These schemes included, Water supply schemes which would carried out at a cost of Rs 208.07 million, construction of road at cost of Rs 44.937 million and establishment of permanent set up of dispensary in the area, says the company’s spokesperson. He said the company has already completed several Social Welfare Programs of Water Supply Schemes, Health Care and construction of roads in Nashpa Oil Field in District Karak with the cost of Rs 42.75 million. He said the OGDCL playing a proactive role in supporting communities and inhabitant in the vicinity of Nashpha Field. Several water supply projects have been undertaken in the villages including Manzlai, Alwargi, Sanda Khura, with the cost of Rs 27.00 million for provision of clean drinking water through water boozers and installation of 25 pressure pumps. He said the OGDCL has been facilitating the local community residing in the
surrounding of Nashpa Field area through establishment of free medical dispensary including provision of ambulance for shifting of critical patients to DHQ Hospitals Karak and Kohat. He said the OGDCL conducts free eye camps to facilitate the patients providing free of cost check up, provision of eye sight glasses and feco operations to a huge number of patients of this area every year. He said all these services are provided free of cost, even the company entertain the patients during camp. OGDCL has spent Rs 3.861 million in health sector for the local communities. He said construction of Nashpa Banda Road with an amount of Rs 11.948 million is underway, the road will connect villages to the market and will boost economic growth and poverty reduction in the Nashpa Field area. Other small projects i.e. leveling of Katcha road was also executed. To convert the young generation into a positive, competent and trained manpower, OGDCL established a Technical Training Centre at District Karak in 2006, he added. He said every year 100 students are enrolled for training in various disciplines of Petroleum Industry and so far an amount of Rs 27.860 million was spent for training including stipends to the students. Company is also providing free pick and drop facility to the local students.
MPBC’s trade promotional role applauded
ISLAMABAD APP
Pakistan’s High Commissioner to Malaysia Masood Khalid has lauded the role played by the Malaysia-Pakistan Business Council (MPBC) in enhancing bilateral trade relations. He said the Council formed in March last year, has been serving as an ideal platform for tapping business opportunities in both countries, said a press release received here today from Kuala Lumpur, Malaysia. Masood Khalid in an interview with
Malaysia’s news agency Bernama said the MPBC had already made a very good start by organizing various activities, including three well-attended cross country business forums, sending business delegations to Pakistan to attend trade exhibitions and conducting business matchmaking sessions for entrepreneurs from both sides. He said that with the establishment of the council, Malaysian businessmen now had a platform to make further inroads into Pakistan. “We can now talk about economic and social issues and other matters that were not
previously discussed by businessmen in both countries,” he added. Masood Khalid said the council is a vital platform to spearhead more business interactions as well as social and cultural exchanges. He also lauded the services rendered by MPBC Chairman Datuk Mohamad Salim Fateh Din and announced that in recognition of Datuk’s contribution and role in enhancing economic cooperation between the two countries, the Pakistani government was awarding him a medal of distinction, which will be formally presented to him on Pakistan Day, March 23 next year.
About his reflections on his life in Malaysia, Mr. Masood said he had been overwhelmed by Malaysian hospitality and touched by its people’s warmth and friendliness and was leaving Malaysia with a tinge of nostalgia. He noted that there were many similarities between the two cultures because of their religious values, history and widespread use of English. When asked about his new posting, Masood said he was looking forward to it and described the posting to China as an “important assignment for any Pakistani diplomat.
GOVT LAUDED FOR PROMOTING GREEN ENERGY ISLAMABAD ONLINE
The Pakistan Economy Watch (PEW), Friday, lauded Government, Asian Development Bank (ADB) and Fauji Fertilizer Company Energy Limited (FFCEL) for promoting green energy in Pakistan. All the stakeholders have played a very positive role in introduction of green energy in the country facing acute power shortages which has sent very positive signals, said Dr. Murtaza Mughal, President PEW. President Zardari’s resolve to fully exploit Gharo-Keti Bundar wind corridor to produce 50,000MW electricity is very positive at a time when shortage of electricity has become a major challenge for the economy, he said. Completion of Pakistan’s first ADB
funded 50MW windmill project in Jhumpir is a great step in the right direction which will send positive signals across and prompt other investors, he added. Dr. Murtaza Mughal said that the government’s encouraging gestures towards the implementing company will go a long way in luring local and foreign investors which will benefit Pakistan. Around 106 Megawatt electricity would be included in the
national grid through NTDC when the wind energy projects of FFCEL and Zorlu Energy would become operational which is a small additional having a great symbolic value, he opined. He said that Pakistani and foreign companies can develop more wind energy projects if they are encouraged by government and the Alternative Energy Developme nt Board. D r .
Murtaza Mughal said that Gharo-Keti Bundar wind corridor can become hub of wind power sector attracting billions of dollars of investment to produce power from free and clean energy source. The funding by ADB will not only improve energy situation, balance energy mix and reduce oil import bill but it will also attract heavy investments to reduce poverty by creating thousands of jobs. He demanded of the government to pay special attention to the sustainable energy resources through favorable policy and regulatory environment which will push the growth of renewable green energy in Pakistan. Grid access is not available to majority of people in Pakistan due to proximity who can be benefited from renewable green energy sources.
Sufficient quantity of fertilizer available for Rabi 2012-13
ISLAMABAD APP
There is sufficient quantity of Urea and DAP fertilizer available to meet the requirements of Rabi season 2012-13. According to the data of National Fertilizer Development Company (NFDC), about 3.016 million tons of urea would be available for the growers at affordable rates during the season. Out of the total stocks of urea available in the country 1.920 million tons are domestic production whereas 0.412 million tons fertilizer are imported with remaining 0.684 million tons of carry forward stock from the last season, it added. The total offtake of the Urea fertilizer was estimated at 2.984 million tons as against the estimated production of 3.016 million tons during the current Rabbi season. It is expected that surplus stocks of about 0.32 million ton urea will be available during the Rabbi crop season which would also help to counter any practice of black marketing and hoarding, it added. Meanwhile, DAP stocks for the sowing period under review was recorded at 0.895 million tons as against total consumption of 0.729 million tons to produce healthy crop and increase per acre crop out-put in the country, it said. The total DAP stock at present is 0.985 million tons, including 0.342 million tons domestically produced, 0.416 million tons imported and 0.227 million tons opening inventory. It is also expected that about 0.256 million tons carry forward stock would be available for the next crop which would also help to discourage hoarders and black marketers in the open market.
Saturday, 29 December, 2012
PRO 29-12-2012_Layout 1 12/29/2012 12:36 AM Page 2
Stocks down on Reid’s ‘cliff’ remarks; yen falls
Business 02 Major Gainers COMPANY UniLever Pak Bata (Pak) Sapphire Textile National Foods Gatron Ind.
OPEN 10000.01 1320.00 210.27 283.75 128.09
HIGH 10500.00 1350.00 220.78 295.70 134.49
LOW 10000.00 1349.00 220.78 283.95 128.00
CLOSE 10500.00 1349.50 220.78 290.54 134.49
CHANGE 499.99 29.50 10.51 6.79 6.40
TURNOVER 380 100 500 23,600 2,500
770.00 365.00 231.00 84.40 118.00
755.00 365.00 218.26 84.32 114.00
757.24 365.00 220.03 84.32 116.00
-12.60 -10.00 -9.10 -4.43 -4.00
3,900 100 7,400 3,500 900
4.76 14.11 6.03 16.80 17.75
3.63 13.31 5.55 16.03 16.80
4.43 13.92 5.94 16.52 17.41
0.63 0.70 0.27 0.48 0.66
20,269,500 18,633,500 11,389,500 9,981,000 9,230,000
Major Losers NEW YORK
W
Siemens PakistanSPOT769.84 Sanofi-Aventis Pak 375.00 Pak.Int.Cont. SD 229.13 Shahtaj Sugar Mills 88.75 J.D.W.Sugar 120.00
AGENCIES
ORLD stocks slipped on Thursday after U.S. Senate Majority Leader Harry Reid said the United States may be poised to go off the “fiscal cliff,” while the yen hit a two-year low on expectations of aggressive monetary stimulus. Reid, a Democrat, criticized Republicans for refusing to go along with any tax increases as part of a U.S. budget remedy and said the economy seemed to be heading over the “fiscal cliff” of impending tax hikes and spending cuts. Economists warn that the $600 billion in higher taxes and spending cuts set to kick in from January could push the world’s largest economy into recession, dragging other countries with it. In another session driven by headlines on the budget talks, all three major U.S. indexes fell more than 1 percent following Reid’s comments. But they sharply cut losses in late-session trading as the U.S. House of Representatives set a work session for Sunday ahead of the Dec. 31 deadline for reaching a
LG seeks ban on Samsung tablet sales in Korea
Volume Leaders P.I.A.C.(A) Byco Petroleum K.E.S.C. Jah.Sidd. Co. Askari Bank
Interbank Rates US Dollar UK Pound Japanese Yen Euro deal. On Wall Street, the Dow Jones industrial average was down 16.30 points, or 0.12 percent, at 13,098.29, well off its lows. The Standard & Poor’s 500 Index was down 1.66 points, or 0.12 percent, at 1,418.17. The Nasdaq Composite Index was down 3.33 points, or 0.11 per-
cent, at 2,986.83. Shares of U.S. retailers fell for a second day following the Christmas holiday. The Morgan Stanley retail index was down 0.4 percent. The MSCI global index was last down 0.1 percent, while European shares ended down 0.04 percent.
PROJECT OF ECONOMIC RECOVERY COMPLETED
SEOUL AGENCIES
South Korea’s LG display said Friday it had asked a Seoul court to ban the domestic sale of Samsung’s Galaxy Note 10.1 tablet computer, citing alleged patent infringements. The company, in the injunction filed on Wednesday, accused Samsung Electronics of infringing three of its patents on the liquid crystal display (LCD) panels used on the Galaxy Note. “Through this action, LG Display seeks to completely stop the sale, manufacture and importation of the infringing Samsung product,” LG Display said in a press release. LG Display also said it would request compensation amounting to 1.0 billion won ($933,000) per day in the event of continued non-compliance. The two companies have been in a patent row since September when LG Display — one of the world’s top flatscreen TV makers — filed suits against Samsung Electronics and Samsung Display for allegedly infringing patents on seven organic light-emitting diode (OLED)-related technologies.
3.80 13.22 5.67 16.04 16.75
LAHORE APP
An exclusive project for economic recovery in 29 districts of Pakistan, which were affected by flood in 2010, has been completed. Small and Medium Enterprises Development Authority (SMEDA) have performed the task with assistance from EU and UNDP. This was revealed here on Friday in a presentation by SMEDA. The project, since its start in July 2011, provided Rs. 189.9 million in grant to 11,928 individuals and 116 organisations for restoration of their enterprises and livelihood. The presentation revealed that Rs. 30,000 in grant per enterprise was provided to entrepreneurs for overall economic development of areas affected by flood. Businesses engaged in
trade of agriculture and livestock inputs, processing of local materials and marketing of produce were given priority. The grants enabled selected entrepreneurs to stabilise their businesses and play their due role in supporting local economic activity and providing requisite goods and services. Realizing the importance of home based income generating activities, there was a special focus on enterprising females supporting their families. Over Rs. 38 million in grant was disbursed among 3,106 women engaged in micro food processing, micro farming and needle craft. Financial aid has given these females hope and they are confident that they can make a positive contribution to income generation for their household, it said. It further said that Rs. 43 million was dedicated for a segment of society who cannot help themselves. Widows, elderly people, orphans and marginalized individuals were identified on the basis of poverty score and provided with Rs. 7,120 each, creating opportunities for micro investments. More than 6,000 individuals benefited from it. Disbursement of Rs. 163 million to around 12,000 people was a big achievement for this project, it further said. They are looking forward to additional support and facilitation for a more inclusive economic development, it added.
97.2098 156.4105 1.1302 128.1614
Dollar East US Dollar Euro Great Britain Pound Japanese Yen Canadian Dollar Hong Kong Dollar UAE Dirham Saudi Riyal Australian Dollar
BUY 97.40 127.83 156.26 1.1193 96.69 12.31 26.40 25.90 99.96
SELL 98.10 129.58 158.35 1.1335 98.63 12.59 26.71 26.16 102.79
Oil up in Asia amid last-ditch fiscal cliff talks SINGAPORE: Oil prices were up in Asia on Friday after US President Barack Obama called an 11th-hour meeting with top congressional leaders to negotiate an elusive deal to avoid the fiscal cliff, analysts said. New York’s main contract, light sweet crude for delivery in February added 42 cents to $91.29 a barrel and Brent North Sea crude for February delivery gained 28 cents to $111.08 in the morning. Traders welcomed news of Obama’s meeting with congressional leaders later Friday, convened a day after he returned to Washington from his shortened Christmas vacation, said Yang Weiming, premium client manager of IG Markets Singapore. AGENCIES
Change of guard at India’s Tata Group MUMBAI: India’s head of the Tata Group empire, industrialist Ratan Tata, retires on Friday — his 75th birthday — while quietly handing over the reins to a younger successor from outside the immediate family. Tata, who steered the group for 21 years as chairman, has been credited with transforming it into a streamlined conglomerate of more than 100 companies and earning a global reputation for eye-catching acquisitions of Western firms. There was no event scheduled to mark the transition but the group last week formally named Cyrus Pallonji Mistry — the first chief from outside the immediate Tata family in its 144-year history — to be the new board chairman once Tata retired. From luxury cars to steel, Tata is India’s largest group with total combined sales of $100 billion in 2011-12, nearly 60 per cent of which came from business outside India, mainly the United States and Britain. AGENCIES
CORPORATE CORNER JS Investments announces interim dividend for JS Cash Fund
for the presence of viruses. The company accepts no liability for any damage caused by any virus transmitted by this email.
KARACHI: The Chief Executive Officer under the authority of the Board of Directors of JS Investments Limited has announced interim dividend for JS Cash Fund for the second quarter of Financial Year 2 0 13 , ending on December 31 , 2 0 12 with a payout of Rs. 2.50 per unit which was approved for the Unit Holders of JS Cash Fund . Unit Holders who have opted for cash payout will receive cash payment while Unit Holders who have opted for bonus units were allocated units at the ex - dividend net asset value at the close of business on December 27 , 2 0 12 . The above entitlement will be paid to the Unit Holders, whose names appeared in the register of Unit Holders at the close of business on December 27 , 2 0 12. is in error, please contact the sender and delete the material from any computer. Please note that any views or opinions presented in this email are solely those of the author and do not necessarily represent those of the company. Finally, the recipient shall check this email and any attachments
ICI Pakistan Limited – Change of Directors KARACHI: Lucky Holding Limited today completed the acquisition of shares of ICI Omicron B.V. in ICI Pakistan Limited. Consequent to this, the Board of Directors of ICI Pakistan Limited has been reconstituted with Mr. Muhammad Yunus Tabba appointed as the Chairman of the Board and Mr. Muhammad Ali Tabba appointed as the Vice Chairman of the Board. Furthermore, Mr. Ali A Aga has been appointed as the Chief Executive of ICI Pakistan Limited on a temporary basis till February 24, 2013 or as determined by the Board.
Samsung offers fabulous discounts KARACHI: Samsung Electronics is a global Market leader in Household Electronics, Digital tech-
nology and Telecommunications. Recently it participated in the attractive and colorful Electro Carnival 2012 held recently at METRO stores in Karachi, Lahore and Islamabad. Samsung offered some amazing discounts on a wide range of its cutting edge products. The Samsung products that attracted an overwhelming response from the consumers, during the carnival included; the Samsung Digital Camera ST – 66 packed with features like; 4608X3456 max resolution, 6.9 MB internal memory, Micro SD/SDHC card options, 32 Scene modes, USB 2.0 compatible, Li-ion rechargeable battery, Built in flash, HDD movie, AV out, 16.1 Mega pixel, 5X Optical Zoom, 2.7 inch TFT LCD. At the Carnival, this camera was offered for an attractive price of Rs. 6,999, whereas the original price of this device is Rs. 9,000.
Teradata workshop for executives KARACHI: Teradata Corporation, the leading data analytic solutions company, announced that it has conducted a workshop at a leading hotel for executives of major companies in the
finance and corporate sector. Stephen Brobst, chief technology officer, Teradata Corporation, conducted an engaging session on “Best Practices in Enterprise Information Management,” and on “The (R)evolution from Business Intelligence to Consumer Intelligence.” He said, “leading edge organizations are deploying consumer intelligence applications, putting further requirements on the data warehouse.” He further explained best practices architecture principles, which if employed, could drastically increase value of ownership in an organization’s information environment. Other speakers at the full day seminar were Fawad Asrar Qureshi, technical marketing manager, Teradata, who gave an overview of the technological ecosystem, and Najia Naqvi, industry consultant, Teradata, who shared the technology perspective on ”Integrated Marketing Management.” The workshop was well attended by executive experts. The interactive sessions assisted the participants in generating creative solutions to solve challenges faced within their companies.
Saturday, 29 December, 2012