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Thursday, 31 January, 2013
USAID to strengthen energy sector ISLAMABAD
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APP
HE United States is strengthening Pakistan’s energy sector and helping to end energy shortages, said a statement issued by the USAID on Wednesday. In this effort, the US Agency for International Development (USAID) Power Distribution Program’s Ewa Szajner was on hand to support the inauguration of a computer center at the Peshawar Electric Supply Company (PESCO). The PESCO CEO and Board of Directors Chairman were also present at the inauguration with senior management from the USAID Power Distribution Program. “Supporting the government of Pakistan’s efforts to improve the performance of the energy sector is one of our top assistance priorities,” said Power Distribution Program Chief of Party Craig VanDevelde. The aim of establishing the computer center is to modernise the Planning and Engineering (P&E)
Unscheduled outages affecting industry, exports: stakeholders HYDERABAD APP
Unscheduled load shedding of electricity is affecting industrial productivity as well as export orders commitment. Anjuman-e-Tajran-e-Hyderabad President Saleem Vohra, Electronic Association President Ikram Guddu, Tajran-e-Latifabad President Aslam Shaikh Muhammad Younus and others said on Wednesday that the process of manufacturing of various export items takes a long time and requires smooth power supply. They said electricity load shedding causes huge losses to manufacturers and also renders the timely completion of export orders difficult. They further pointed out that many factories located in Hyderabad SITE areas were facing 8 to 10 hours of continuous load shedding and their business was being affected as a result. They also urged the HESCO authorities to minimise the load shedding process through proper planning and appropriate load management so that industrial manufacturing activity is not disrupted.
ZTBL provides finance for 908 tractors ISLAMABAD
sectors of government-owned power distribution companies (DISCOs), improving energy distribution across Pakistan. “I am confident that, through this effort, PESCO will be better able to efficaciously supply electricity to consumers in Peshawar and surrounding areas,” VanDevelde added. USAID has established similar computer centers at the
Islamabad Electric Supply Company, Faisalabad Electric Supply Company, Lahore Electric Supply Company and Gujranwala Electric Power Company. USAID also provides training for engineers and technicians from all nine DISCOs and is introducing international best practices for public utility management. This initiative to equip Pakistan’s
power distribution companies with modern technology and training the human resource is just one part of a comprehensive United States’ energy assistance program which includes renovating the power plant at the Tarbela Dam, upgrading the Guddu, Jamshoro, and Muzafaragarh power plants, and completing the construction of the new Satpara and Gomal Zam dams. Together, these large-scale energy projects will add up to 900 MW to the power grid by 2013-enough power to supply electricity to an estimated two million households. The five year USAID Power Distribution Program was announced by Secretary of State Hillary Clinton in 2009 as being among the United States’ efforts to support the government of Pakistan to reform its power sector to mitigate the current energy shortfall. The Program is helping governmentowned DISCOs improve their commercial performance by reducing losses, increasing revenues and improving customer services through the introduction of new technology and improved work practices.
Palm oil imports fall 18.92 percent ISLAMABAD APP
Palm oil imports witnessed sharp decline of 18.92 percent during the first half of the current fiscal year as against the same period last year. Pakistan imported palm oil worth $1.024 billion during July-December (2012-13) against the imports of $1.263 billion in July-November (2011-12), according to the data of Pakistan Bureau of Statistics (PBS). In terms of quantity, the palm oil imports witnessed negative growth of 6.58 percent by falling from imports of 1,205,182 metric tons last year to 1,032,473 metric tons during the period under review. In rupees term the palm oil imports during July-November (2012-13) stood at Rs 97,562 million against the imports of Rs 110,182 during the same period of last year, showing negative growth of 11.45%. During the month of December 2012, palm oil imports witnessed decrease of 29.44% and 6.38% against the imports in December 2011 and November 2012 respectively, the data revealed. On the other hand, the imports of soyabean oil witnessed increase of 26.47 percent during the first six
months of the current fiscal year. The soyabean imports were recorded at $44.241 million in JulyDecember (2012-13) against the imports of $34.981 million during the same period of last year, the PBS data revealed. In terms of quantity, the soyabean oil imports increased from 26,625 metric tons to 34,381 metric tons, witnessing increase of 29.13 percent. In rupees term, the soyabean oil imports witnessed increase of 37.67 percent by going up from imports of Rs 3,042 million last year to Rs 4,188 million during the current year.
During the month of December 2012, soyabean imports decreased by 93.15% and 95.23% as compared to the imports of December 2011 and November 2012 respectively. It is pertinent to mention here that the overall food imports into the country witnessed decline of 17.49 percent by falling from $2.614 billion last year to $2.157 billion this year. The overall imports into the county during July-December (201213) decreased by 3.33 percent whereas the exports increased by 7.58 percent as compared to the same period last year.
Yen slips on Japan finance minister’s comments TOKYO Agencies
The yen slipped further on Wednesday after Japan’s finance minister issued a stern denial over claims that Tokyo was manipulating the unit, as traders keep an eye on a Fed meeting that wraps up later in the day. In morning Tokyo trade, the dollar gained to 90.97 yen, from 90.72 yen in New York on Tuesday, while the euro fetched 122.75 yen, from 122.42 yen. The single currency also bought $1.3491 from $1.3493. Japan’s currency resumed its monthslong slide as Finance Minister Taro Aso said the unit was in a “correction phase” after soaring to record highs around 75 to the dollar in late 2011. “The comment is nothing new so it can’t push up the (dollar/yen) pair like a rocket anymore, but it still has some power left,” a senior dealer at a major bank in Tokyo said. On Tuesday Japan’s economic revitalisation minister Akira Amari said the currency’s slide was a product of Japan’s new government trying to boost the deflation-plagued economy with big spending and a pressure campaign on the Bank of Japan for aggressive easing. That has stoked criticism-including from German Chancellor Angela Merkel and Organisation for Economic Cooperation and Development (OECD) chief Angel Gurria- that Tokyo is manipulating its exchange rate policy. Forex markets were looking to the US central bank as it wraps up a two-day meeting later in the day, hoping for more clues to the state of the economy. While no major new decisions are expected, the meeting is its first since December when the Fed expanded its bond-buying programme and set explicit unemployment and inflation targets for raising interest rates. Notes from that meeting showed increasing concerns over inflation, so analysts will be looking for any nuance on its view of the state of the world’s biggest economy. Data out of the US on Tuesday showed consumer confidence was weaker than expected but prices continue to recover in the battered housing market.
APP
Zarai Taraqiati Bank Limited (ZTBL) has provided financial assistance for purchasing over 908 tractors to growers across the country to mechanise agrifarming and to enhance per acre yield to fulfill the domestic and export requirements. An official of ZTBL said that out of the total financed tractors by the bank during the year 2011, 884 tractors were distributed in Punjab Province, three in Sindh and 18 in Khyber Pukhtunkhwa. He said Balochistan, Azad Kahsmir and Gilgit Baltistan farmers were also provided tractor financing to increase yield output to alleviate poverty from the country. He said Rs 58,066.4 million was disbursed among small farmers across the country to fulfill their credit requirements, adding that Rs. 48,381.144 million was provided to small scale growers in Punjab and Rs. 5,541.235 million for farmers in Sindh.
Pakistan’s exports to India grew faster than imports from India ISLAMABAD sTAFF RePORT
According to latest figures of the Directorate General of Commercial Intelligence and Statistics, Ministry of Commerce & Industry (MoCI), Government of India, Pakistan’s exports to India between April-December 2012 show a growth of 66% over the same period in 2011, while India’s exports to Pakistan grew by 16% in April-December 2012. Pakistan’s exports to India in the nine months of 2012 stood at $ 460 million, which is much more than $ 277 million during April-December 2011 and is also more than the value of Pakistan’s exports to India ($ 401 million) in the entire previous year (April 2011-March 2012).
The growth of $ 183 million in Pakistan’s exports to India during AprilDecember 2012 is more than the increase of about $ 170 million in its imports from India in the same period. MoCI figures also indicate that the share of Pakistan’s exports in bilateral trade with India has almost doubled since 2009-10. The impressive increase in Pakistan’s exports during April-December 2012 reflects the benefits of the steps taken to enhance bilateral trade, and improvement of trade environment, aided by SAFTA tariff reductions. In order to address concerns of Pakistan’s exporters, the two countries had also signed three agreements in 2012 in areas of customs cooperation, mutual recognition of standards and redressal
of trade grievances. A number of trade organisations in both countries have promoted, especially in 2012, greater exchange of trade and business delega-
tions between India and Pakistan. Liberalised visa provisions pertaining to business persons will further facilitate such exchanges.
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Thursday, 31 January, 2013
Fish exports post 2.64 percent growth in first half ISLAMABAD
ADB shows great interest in mega projects in Sindh
APP
Fish and fish preparations exports from the country during the first half of current financial year recorded a growth of 2.64 percent as compared to the same period last year. During the first two quarters of the current financial year about 70,675 metric tons of fish and fish preparations worth $156.92 million were exported against the 58,104 metric tons valuing 152.88 million of the same period last year. According to data from the Pakistan Bureau of Statistics (PBS), the export of fish and fish products increased by 12.24 percent on a month-on-month basis. The data revealed that fish and fish preparations exports during the month of December 2011 was recorded at 9,819 metric tons, costing $ 27.200 million. From July-December, 2012 the meat and meat preparations exports also went up by 43.74 percent as about 35,901 metric tons of the products worth $ 120.78 million were exported. The exports of meat and meat preparations during the same period of last year were recorded at 27,007 metric tons worth $ 84.03 million, the data revealed. The meat and meat preparations exports during the month of December, 2012 also increased by 45.8 percent as compared to the same month of last financial year. During the month of December, 2012 the country earned $ 18.54 million by exporting 5,737 metric tons of meat and meat products which was recorded at 4,227 metric tons valuing $ 12.07 million during the month of December, 2011. In first half of current financial year the exports of other food commodities increased by 17.31 percent as compared to the same period of last financial year.
KARAcHI
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sTAFF RePORT
INDH Board of Investment (SBI) Chairman Muhammad Zubair Motiwala said the Asian Development Bank (ADB) is in the final stages to complete the transaction structuring and advisory services for a mega infrastructure development at the Karachi Port. ADB is now in discussion with the Government of Sindh and its economic management team to identify rural based economic growth projects to augment and strengthen the mega infrastructure development to be undertaken at Karachi Port, he said while presiding over a meeting with ADB Principal Public Management Specialist Yesim Elhan at his office. ADB team visited SBI in order to formulate its framework for 2014 and to identify vital infrastructure and development projects based on the rural economy for which the bank will provide project development, transaction advisory and transaction structuring services in the Public Private Partnership mode. SBI Chairman highlighted various projects based on the
rural economy which have been conceived by the Government of Sindh. The ADB team showed great interest in these projects which carry immense importance in terms of rural growth and economic uplift. The ADB team will revert to SBI to develop these projects under PPP mode. On the occasion, the Sindh Enterprise Development Fund (SEDF) CEO gave a briefing about the SEDF. He said in SEDF Small and Medium Enterprises are given subsidy on loan by banks for their projects, where the KIBOR part of the loan is paid by the government, which has helped stimulate the micro economy. “Sindh Government is also enthusiastically pursuing Khairpur Special Economic Zone for supporting the local industries especially dates processing, storage and packaging, which is the main crop of Khairpur. Technical training on modern lines, research areas and financial frameworks are the areas where ADB assistance is a must,” he said. The ADB team highly appreciated the efforts being taken by the government for improvement in development process and assured ADB’s further assistance and continued support to the cause of Sindh.
Major Gainers COMPANY OPEN Nestle Pakistan Ltd. 4693.75 MithchellsFruit 321.00 Sitara Chemical 174.65 Gatron Ind. 185.00 Philip Morris Pak. 135.60
HIGH 4928.43 334.00 183.37 192.50 142.38
LOW 4900.00 334.00 175.00 185.00 141.99
CLOSE CHANGE 4928.43 234.68 334.00 13.00 182.77 8.12 192.50 7.50 142.38 6.78
TURNOVER 5,920 200 19,200 2,000 4,600
1450.00 620.00 450.00 673.00 99.75
1350.00 608.00 440.00 643.75 99.75
1350.00 620.00 440.00 670.20 99.75
-35.00 -20.00 -10.94 -7.40 -5.25
250 650 800 600 500
4.20 16.95 18.72 2.71 2.96
3.50 16.06 17.75 2.45 2.69
4.02 16.76 18.72 2.67 2.92
0.59 0.76 1.00 0.25 0.27
43,025,000 21,849,000 21,163,500 20,678,500 14,378,500
Major Losers Bata (Pak) Siemens Pakistan XD Shezan Inter. Indus Dyeing Khyber Tobacco
1385.00 640.00 450.94 677.60 105.00
Volume Leaders Telecard Limited Jah.Sidd. Co. P.T.C.L.A NIB Bank Limited WorldCall Telecom
3.43 16.00 17.72 2.42 2.65
Interbank Rates USD GBP JPY EURO
PKR 97.6910 PKR 153.8536 PKR 1.0694 PKR 132.1467
Dollar East BUY US Dollar Euro Great Britain Pound Japanese Yen Canadian Dollar Hong Kong Dollar UAE Dirham Saudi Riyal
98.40 132.66 154.40 1.0701 97.11 12.49 26.70 26.20
SELL 99.10 134.90 156.97 1.0872 99.37 12.77 27.10 26.54
Ufone President and CEO Abdul Aziz along with Senior Management at the cake cutting ceremony on Ufone’s 12th anniversary at the Ufone Tower in Islamabad.
CORPORATE CORNER Hashoo group relaunches its brunch at Marco polo
Samsung introduces GALAXY Xcover 2 smartphone
polo. Besides this a complimentary dip at swimming pool was also a part of the venture, he added. PR
Bank Alfalah chooses Wateen for connectivity of 75 branches
KARACHI: To provide families with an opportunity to have brunch, Pearl Continental Karachi of Hashoo group, re-launched its brunch at Marco polo, amid a graceful ceremony, here on Sunday. Aero Asia International (Pvt) Ltd president Farrakh Nawaz Chughtai inaugurated the restaurant through ribbon cutting, while crème de la crème of the megalopolis, besides several prominent political and business tycoons attended the ceremony. Speaking on the occasion, chief guest of the ceremony, Chughtai praised the initiative and termed it a facility for the Karqachities. He said that Aero Asia and PC had a long lasting affiliation and hoped that the relations would further enhance. Talking about Aero Asia, he said that re-launch of Aero Asia was also in progress. He hoped that the airline would be functional in very next month of February. He further said that Pakistan has massive potential for airline industry and recently a study had also revealed that Asia reign would play a significant role in boom of aviation sector in coming future. Renowned figure of political arena of the country Shaikh Rasheed also graced the event with his presence. He also praised the initiative taken by PC. Talking about the ongoing situations and future options for the metropolis, he said that nature blessed Karachi with a number of blessings. The city has a rich culture, potential for industry and businesses of all kinds. The only drawback of the city was deteriorating law and order situation, which should be addressed on war footing and concrete basis. PC Karachi GM Azeem Qureashi, while expressing his views, said brunch itself was a family time. People, particularly in Karachi usually prefer brunch on Sundays. To facilitate Karachities, PC offers them a brunch with a freedom of culture, colors and food which is an amalgamating venture. He said at brunch we made provide a taste of all on one plate at Marco
LAHoRe: Pakistan’s leading converged communications service provider, Wateen Telecom, has been chosen by Bank Alfalah after a stringent vendor evaluation process for providing Fiber & Radio deployment to establish DataVPN link for 75 branches and aggregation sites. Wateen is a preferred partner for broadband connectivity and related solutions for Bank Alfalah and over 200 leading companies in the country. Wateen offers organizations support for planning, implementation and management of their network and is a gold partner for Cisco. Wateen has always maintained exceptional level of customer service for both enterprise customers and the general consumer. Mr. Naeem Zamindar, CEO Wateen Telecom, in a message to the employees stated, “This achievement is further recognition of Wateen’s focus on customer centricity and keeping our customers at the center of our thought process while dealing with all environmental and economic challenges. PR
Intel Announces National Science Fair Winners Intel Pakistan today concluded its national science competition by announcing the winners of the Intel National Science Fair who will represent Pakistan at the Intel International Science & Engineering Fair (ISEF) 2013, to be held in Phoenix, Arizona, USA from May 12th to 17th. WInneRS GRoup pRojeCTS:Fatima Moin Veera, Hania Hasan, Umme Salma Shabbir Gadriwala-Mama Parsi Girls Secondary School, Karachi Qaiser Ali Shah, Ali Yezdan, Sajid Khan-Agha Khan Higher Secondary School, Gilgit. WInneRS IndIvIduAL pRojeCTS: Javaria Nisar - Government Girls Higher Secondary School Singhpura, Lahore Haris Bin Ashraf - Defense Authority Sheikh Khalifa Bin Zaid College, Karachi Isa Bin Qasim - PakTurk International School and Colleges, Peshawar, Muhammad Ahsan Nawaz - Government Model High School, Mailsi, Vehari. PR
Photo Walk organised by Nikon Pakistan (Camtronx) at Lahore Fort. The walk was attended by CEO Camtronx Nasir Saeed along with photography experts Ali Mohsin Gardezi, Irfan Ahson, Usman Hayat, Aamir Amjad and Asif Sherazi along with other participants
Salma Bibi – picking up the threads of life A 58 year old resident of Mastoi Colony, D.G. Khan, Salma Bibi is a perfect example of the triumph of the human spirit even in the face of extreme difficulty and tragedy. Through her determination to provide a better life for herself and her children, this dynamic woman used her business acumen and with the help of Khushhalibank’s microloan facility, now single handedly earns a livelihood for her family, and also supports women in the local community by having employed them. After the untimely death of her husband, Salma Bibi found herself in a terrible situation: she had absolutely no financial support and six mouths to feed. Even her close relatives chose to ignore her pleas for help and left her alone. However, rather than play the victim, she chose to gather her courage for a greater purpose. Having heard about Khushhalibank, she approached them for their microfinance loan scheme in 2003. With the help of a loan of Rs. 10,000, she started a small business from her home: an embroidery and cloth house. At the time, she had to sacrifice her children’s education so that they could help participate in her business. Her monthly income at the time was a mere Rs. 2,000. However, after she got the loan, her profits kept on increasing and now her monthly income stands at Rs. 18,000. The loan from Khushhalibank gave her the kick-start she needed at the time, and now she stands proud, having provided for the higher education of her six children, and also having borne all the expenses for their marriages. PR
KARACHI: Samsung Electronics Co., Ltd, today unveiled the Samsung Xcover 2, the ideal smartphone for active explorers who are enjoying outdoor lifestyles and seeking a durable mobile device with essential smartphone capabilities. The GALAXY Xcover 2 is optimized to endure against the most rugged outdoor conditions, whether you’re at work or play. Protected against the elements, it is dust and sand proof. It’s even water resistant to a depth of one meter for up to 30 minutes (IP67 Certified). You can now take photos under water with the direct camera key, hold on tight to your device with the strap holder and not worry about dropping your phone as the battery cover lock gives added protection. Predownloaded Google map data, an enhanced GPS + GLONASS which shortens the satellite signal detection by up to 20% to tracks your location more accurately, LED Flash next to the camera which can be used like a torch and a huge battery capacity of 570 hours(1,700mAh), making the GALAXY Xcover 2 is the best possible smartphone partner for outdoor exploration. In addition, the Cardio Trainer Pro workout application will also help you achieve your fitness goals by creating a tailored training program, checking your progress and recording your track and speed. For everyday, users can expect the powerful performance characteristic of a Samsung smartphone with the robust GALAXY Xcover 2 shell. Its vivid 4.0” (100.8mm) WVGA display provides a clear and wide viewing experience, a 5megapixel camera and VGA front camera that will let you record precious moments in high resolution, Bluetooth® v 4.0 gives a better connection that consumes less power and detects devices 50 meters away. An impressive 1GHz dual core processor powers the core of the GALAXY Xcover 2, which ensures a fast operating speed for seamless multitasking, faster webpage loading and softer UI transitions. PR