PRO 31-05-2012_Layout 1 5/31/2012 12:44 AM Page 1
Oh Mon Dieu! Page 02
profit.com.pk
Thursday, 31 May, 2012
IT’S SHOW TIME!
I know what you did last summer
Asia unites to solve rice price puzzle g
Asian Rice Trade Forum from June 19 ISLAMABAD ONLINE
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Economic Survey 2011-12 to be launched today The disparity between last summer’s aims and the achievements to be highlighted ISLAMABAD
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APP
hE Economic Survey of Pakistan for the outgoing year 2011-12 will be launched here on May 31 (Thursday). Federal Minister for Finance Dr. Abdul hafeez Shaikh will launch the pre-budget document, highlighting the overall performance of economy during the out-going fiscal year, providing a realistic feedback and basis for planning. The survey covers the development of all the important sectors of economy, including growth and investment, agriculture, manufacturing, mining, fiscal development, money and credit, capital markets and inflation and debt and liabilities. The survey also highlights the performance of education, health and nutrition, besides showing the overall
population, labour force and employment, poverty, transport and communication. It also assesses the issues of environment, contingent liabilities, tax expenditure as well as economic and social indicators. Meanwhile, the government has approved Rs.873 billion for Public Sector Development P r o gramme (PSDP)
2012-13, with 360 as Federal component. The growth for the next fiscal year has been projected at 4.3 percent where as estimated growth rate for the ongoing year would be 3.7 percent. The Consumer Price Index Inflation is expected to be around 11 percent during the year as against 13.7 percent during the previous year. Official
in the Ministry of Finance told APP that all arrangements have been finalized to launch the Economic Survey 2011-12 on Thursday at the P-block auditorium at about 3 pm. Meanwhile, the Federal Budget for the upcoming fiscal year 2012-13 is scheduled to be presented before the two houses of the parliament simultaneously on June 1, Friday. Federal Minister for Finance, Dr. Abdul hafeez Shaikh has already indicateded that the budget would be people friendly, growth and employment oriented and would have no "unpleasant surprise" for the taxpayers. he has also indicated that the government would not put any additional burden of taxes on the existing taxpayers during the upcoming budget for the fiscal year 2012-13 instead efforts would be made to bring non-filers under the tax net for the prosperity of the country.
EU throws Spain two potential lifelines BRUSSELS/MADRID REUTERS
Spanish government borrowing costs lurched higher and the Madrid stock market hit a nine-year low with investors rattled by the parlous state of its banking sector fleeing to the relative haven of German bonds. EU Economic and Monetary Affairs Commissioner Olli Rehn said Brussels was ready to give Spain an extra year until 2014 to bring its deficit down to the EU limit of 3 percent of gross domestic product if Madrid presents a solid two-year budget plan for 2013-14, something it has committed to do. The concession, which Madrid has not publicly requested, was on condition that Spain effectively reins in overspending by its autonomous regions, makes further financial sector reforms and recapitalizes its troubled banks. While the Commission is responsible for proposing laws, it is member states that decide whether to adopt them. EU paymaster Germany has so far firmly opposed any collective European banking resolution and guarantee system or any use of bailout funds without a country having to submit to a politically humiliating EU/IMF austerity program. Rehn said there were no grounds for giving Italy a similar extension to balance its budget, due in 2013, since unlike Spain its economy is forecast to start growing again next year. In an economic policy document which laid out some of the dramatic policy proposals which analysts say are needed to tackle the debt crisis, the European Union's executive arm said the vicious circle of weak banks and heavily indebted states lending to each other must be broken and called
for a banking union in the euro zone. Commission President Jose Manuel Barroso said tighter euro zone integration could include a joint bank deposit guarantee scheme to prevent a bank run and euro area financial supervision, saying the mood had changed since member states unanimously rejected a joint deposit guarantee fund only months ago. "In the same vein, to sever the link between banks and the sovereigns, direct recapitalization by the ESM (European Stability Mechanism) might be envisaged," the report said. Permitting the ESM to lend directly to banks would require a change to a treaty in the midst of ratification by member states that might come too late for Spain's needs. Spanish premier Mariano Rajoy backs the idea but Rehn appeared cool to it. "Direct disbursements to banks are not foreseen as such in the treaty, and therefore this is not an available option ... in terms of direct recapitalization," Rehn told reporters. Spain's banking woes - the result of a burst property bubble aggravated by recession - have combined with growing uncertainty about Greece's survival in the euro zone to reignite Europe's sovereign debt crisis. That drove the euro to a two-year low below $1.2450, while European shares also fell after Italy had to pay heavily to sell bonds. Madrid said its bank rescue fund would issue bonds to inject funds into nationalized lender Bankia, but that looks expensive with 10-year borrowing costs at 6.65 percent near their euro era peak and close to levels at which Ireland and Greece were forced to seek international bail-outs. Investors unnerved by Spain's deepening financial crunch pushed Italy's funding costs sharply higher at
a bond sale, with 10-year yields topping 6 percent for the first time since January. hEIGhTENED ANXIETY In a sign of heightened anxiety in Washington, top U.S. Treasury official Lael Brainard was dispatched to hold talks in Greece, Germany, Spain and France "to discuss their plans for achieving economic stability and growth in Europe", the Treasury Department said. Barroso said Europe's G8 partners, at a summit in the United States 10 days ago, had asked the euro zone to go further with financial and economic integration. A sudden economic deterioration in Europe would pose a serious threat to the U.S. economy and hence to President Barack Obama's re-election prospects in November. Rajoy has insisted his government has no intention of seeking an EU/IMF bailout either for its banks or for the state. But the abrupt resignation of Bank of Spain Governor Miguel Angel Fernandez Ordonez on Tuesday, a month before his term was due to end, added to doubts about the handling of the Bankia crisis and relations with European institutions. highlighting Spain's difficulty in meeting fiscal targets while gripped by a deep recession, the outgoing central bank chief said tax revenue may fall short of government estimates and spending may be higher than expected. he recommended bringing forward a rise in value-added tax set for 2013 if the deficit objective goes off track this year. In its country report on Spain, the Commission said the latest banking reform presented this month did not go far enough and needed to be strengthened to include provisioning
on mortgages and lending to small businesses. It also warned that unless policies are changed, Spain's debt will spiral to 100 pct of GDP by 2020. Madrid had one of the lowest debt ratios in the euro zone before the crisis at about 35 percent of GDP. GREECE IN BACKGROUND Less than three weeks before a crucial second general election that may determine whether Greece stays in the 17-nation currency area, Greeks were warned by their biggest bank that they face economic catastrophe if they leave the euro. Living standards would plummet, incomes would be slashed by more than half, and inflation and unemployment would skyrocket, the National Bank of Greece said. The outcome of the election was thrown into doubt on Wednesday when a poll suggested the anti-bailout SYRIZA party would win, contradicting six previous forecasts. The worries about Spain and Greece have hit efforts by other trouble euro zone countries to emerge from their own debt woes. The Irish vote in a referendum on a European budget discipline treaty on Thursday which is seen as a precondition for receiving further EU/IMF aid. Opinion polls forecast a solid win for the "Yes" camp, but Ireland's hopes of returning to bond markets late next year as a reward for textbook implementation of an austerity program have been clouded by wider uncertainty in the euro zone. Safe-haven German bond yields hit a record low as worries about Spanish banks intensified while Spain's benchmark IBEX stock index, which is down 28 percent this year, fell 2 percent after hitting a new nineyear low earlier in the session.
In a bid to seek to serve as a platform for promoting coherent and coordinated policy actions on rice trade, a two-day Asian Rice Trade Forum will be kicked off from June 19, 2012 in Cambodia. The theme of the Forum is managing the risks of extreme rice price volatility caused by policy shocks and supply distortions brought about by climate change, through coherent and coordinated policy actions. The Forum is convened, on a pilot basis, by the ASEAN Food Security Reserve Board (AFSRB), in coordination with the ASEAN Secretariat and the Asian Development Bank (ADB).
NINETY-FOUR! US dollar reaches new height, all time high against rupee
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KARACHI ONLINE
On Wednesday, the reeling rupee has yet again hit a record all time low against US dollar in the inter-bank market. US dollar reached as high as Rs.94, which is an all-time high in history of the country. Forex dealers were of the view that it gained strength against rupee due to a rising demand of USD by the exporters. Currency savants said if USD is not stopped in its tracks now the imports would go dearer fuelling inflation big time.
Gold slips to Rs 47,314 KARACHI APP
Gold slipped by 171 to close at Rs 47,314 per 10 grams in the local market Wednesday as its international price dipped to $ 1,549 an ounce, market sources said. According to Karachi Saraf Association official, tola (11.664 grams) price also decreased by Rs 200 to close at Rs 55,200. Silver closed lower at Rs 814.28 per 10 grams.
Magnificent seven PIA cuts 12 departments into 7 for more efficient operation
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KARACHI STAFF REPORT
The Pakistan International Airline (PIA) has carried out reorganization of its departments for better coordination, smooth functioning and efficient operations. The total number of departments has been reduced from 12 to seven, said the national flagcarrier in a statement issued Wednesday. It said various departments, which were dependent on each other for their functions, have been merged. The decision was taken by in a meeting headed by Chairman PIA Rao Qamar Suleman. The meeting comprised the Airlines’ senior management officials, heads of Employees Union (Collective Bargaining Agent), societies and associations who fully supported and concurred with the new arrangement. All PIA personnel and employees have been absorbed and accommodated. There will be no lay-offs as a result of this reorganization. The reorganization would be presented and discussed in the next Board of Directors meeting.
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Thursday, 31 May, 2012
02 news Oh Mon Dieu! g
Expecting Louis Vuitton from a shoestring budget?
France risks missing 2013 deficit goal, EU Commission says BRUSSELS REUTERS
hollande wants to shift Europe's strategy towards growth and ease the pace of German-led austerity some economists blame for suffocating national economies, but France's ability to meet its goals is crucial to the euro zone's credibility with investors. France is supposed to cut its budget deficit to 3 percent of gross domestic product in 2013, but the Commission's latest forecasts suggest it will be some way off that goal, with a shortfall of 4.2 percent, down from 4.4 percent in 2012. Economists polled by Reuters think next year's deficit could actually rise to 4.6 percent. "The distance to the 3 percent of GDP threshold remains significant," the Commission said in its annual assessment of France's economic performance, saying budget consolidation was one of France's biggest policy challenges. "Correcting the excessive deficit by 2013 may require additional efforts." "The French authorities need to specify the measures necessary to ensure that the excessive deficit is corrected by 2013," it dded. France is the euro zone's second largest economy and, along with Germany, central to European integration
and the EU's global standing. Any suggestion that it is plagued by economic difficulties like those of indebted Spain, Greece and Ireland could complicate efforts to resolve the euro zone debt crisis. "The high level of public debt poses a threat to the sustainability of public finances, and the recent rise in bond spreads suggests that markets are concerned about the country's fiscal position," the Commission report said. NO SPENDING SPLURGE: hollande
China wants to make hay while the sun shines ISLAMABAD ONLINE
Pakistan and China have discussed investment opportunities in energy sector and various proposals for “on grid” and “off grid” solar energy solution. A five member Chinese delegation of Suntech energy lead by Dr. Zhengrong Shi had a meeting with Federal Minister for Water and Power, Syed Naveed Qamar here on Wednesday and offered to invest in the solar energy sector in the country. The delegation expressed their expertise in the manufacturing of solar panels and related equipment’s and said that they have business in 13 countries and their modules are installed in over 80 countries with highest efficiency such as USA and Latin America. Dr. Shi extended support to reduce electricity demand supply gap. Qamar said that Pakistan has average 280 to 300 sunny days and also has power deficit of 4000 MW which will grow further due to increasing power demand in future.
says he has inherited worse-than-expected public finances from his conservative predecessor Nicholas Sarkozy and has ordered an audit of the state accounts for the end of June. But even if the audit were to confirm current forecasts, the Commission said France would need to limit spending increases, keeping these under the level of economic growth, which the EU's executive sees at 0.5 percent this year and 1.3 percent in 2013.
Dear criminals, Shoo! Yours agitatedly KCCI KARACHI ZAIN ALI
Karachi Chamber of Commerce & Industry’s (KCCI) Acting President Younus Muhammad Bashir has demanded to control the recent waves of unbridled street crimes, criminal activities, extortion, kidnapping for ransom, terrorism in the markets and commercial centers of Karachi. he demanded the Chief Minister Sindh for immediate directives to law enforcing agencies the control the bad law and order situation and release of two businessmen brothers who were kidnapping two days ago
That would squeeze hollande's campaign promises to hire 60,000 school staff and create 150,000 state-aided jobs in a country with one of the world's highest levels of public spending. EU Economic and Monetary Affairs Commissioner Olli Rehn said he expected hollande to announce new measures to tackle the deficit once the audit was complete. "It is... important for France to take effective action in order to meet its fiscal targets to bring the fiscal deficit to below three percent. It is fully achievable," Rehn told a news conference. "I expect that France will, shortly following the review conducted by the Cour des Comptes, present concrete measures in order to ensure it respects its commitments," Rehn said, referring to the French court of auditors. With the Commission's growth forecasts below those of the French authorities for next year, the report said such measures should be cuts in government spending and tax reforms. "In terms of fiscal revenue, the number and cost of tax expenditures is to be further reduced," the Commission report said. "Moreover, despite measures to reduce taxes on labor, further efforts are needed to develop a tax system that is more conducive to sustainable economic growth."
from automobile spare parts market situated at M. A. Jinnah Road. In a meeting with delegation of Pakistan Automobiles Spare Parts Importers & Dealers Association (PASPIDA) Acting President assured support of KCCI on all law and order issues. he said that the rampant street crimes cannot shake the determination of the business and industrial community to strengthen the economy. The business and industrial community stands united against bhatta mafia, criminal elements and kidnappers and would not accept any unrest from the lawbreakers, he maintained. he stated that to control the bad law and order situation, the KCCI was in regular contact with Federal Interior Minister and the Chief Minister Sindh. he assured the cooperation seeking delegation of Pakistan Automobiles Spare Parts Importers & Dealers Association being led by Khalid Mahmood Magoon entire support and said that SOS letter would be sent to Chief Minister and the delegation of KCCI and the businesses community of Karachi headed by Chairman Businessmen Group Siraj Kassam Teli will meet the Chief Minister soon to apprise him about the gravity of situation and lawlessness in the old city market areas, particularly in Jodia Bazar and automobile spare parts markets at Tibet Centre. M. A. Jinnah Road.
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PRGMEA says Rs42b budgetary allocation not enough for textile sector KARACHI STAFF REPORT
Shehzad Salim Central Chairman Pakistan Readymade Garments Manufacturers and Exporters Association (PRGMEA) said the Ministry of Textile Industry had requested a budgetary allocation of Rs 42 billion for the next fiscal year 2012-13 from the Finance Ministry. Even if this amount is sanctioned, Rs28 billion would go towards payment of outstanding claims of the exporters against various schemes (DLTL, R&D, etc.) leaving only Rs 14 billion for the development and up-gradation works of the textile sector. Salim said in last budget, the textile ministry had asked for approximately Rs30 to Rs 35 billion out of which only Rs 7.5 billion were allocated and only Rs 6 billion were paid, the balance amount has lapsed. The PREGMEA chief pointed out that relief to the textile sector means relief to the people of Pakistan as the textile sector employs 38%, 16.5 million, of country’s total workforce. Out of this, the garment industry employs around 6 million people. If relief is provided to this sector, it will result in more job creation for the poor unskilled workers. Salim dispelled the impression that money allocated for the textile sector goes into the pockets of industrialists, instead he said it would directly benefit the workers employed in the sector. Keeping the factories going is of prime importance as this results in continued employment. In this regard, he explained that the Ministry of Textile Industry has chalked out several development programs for the sector which will result in up-gradation and modernization of textile machinery, which will help create new jobs. Also, several programs for vocational and technical training have been envisaged, due to which unskilled workers will become skilled workers and earn more for their families. he expressed hope that the Finance Minister, Dr. Abdul hafeez Shaikh will provide the required funds to the textile sector as it directly benefits the lower income section of the economy.
SBP HAD A BUSY DAY Asks money exchangers to Moves to standardise augment compliance culture treatment of credit Murabaha KARACHI STAFF REPORT
The central bank on Wednesday advised the exchange companies to strengthen their compliance culture and ensure adherence to the prescribed rules and regulations of the State Bank of Pakistan (SBP). This was state by Kazi Abdul Muktadir, executive director SBP, while opening an awareness program on Corporate Governance for the board of directors and chief executives of the exchange firms here at the SBP. The executive director said the program would go a long way towards capacity building of the exchange firms and enhance their effectiveness as well as credibility. Also, Kazi briefed the participants about the background under which the exchange firms were established and opportunities available for them to graduate towards larger sized companies. Director Development Finance Institutions and Exchange Companies Inspection Department, SBP
Shaukat Zaman and other senior officers of the SBP and Financial Monitoring Unit (FMU) also spoke on the occasion. The program was held under the auspices of the SBP’s DFIs&Exchange Companies Inspection Department to create awareness on corporate governance, internal controls, Management Information System (MIS), Know Your Customer (KYC)/Anti Money Laundering (AML) for better understanding to further improve their compliance culture. More than 80 directors and CEOs of the exchange firms of both A and B categories representing 27 companies, having their head offices in Sindh and Balochistan, participated in the program. Chairman Exchange Companies Association of Pakistan (ECAP) Malik Muhammad Bostan and President ECAP haji haroon among others attended the awareness program. Bostan thanked the SBP for organizing this important awareness program and offered to extend his all out support for such initiatives of the central bank.
KARACHI STAFF REPORT
The central bank on Wednesday notified certain regulatory changes in the relevant rules with an aim to standardize the recording and reporting of credit Murabaha transactions carried out by the Islamic banks. The State Bank, through issuing a circular to all Islamic banks and The conventional banks having Shariah-complaint branches, noted that the practice of recording and reporting of credit Murabaha transactions was not standardized across the industry. The regulator said the cases wherein IBI purchases the goods on supplier’s credit and sells the same on credit under Murabaha, the transaction shall be booked as on-balance sheet item by appropriately recording ‘Payable to supplier’ and ‘Receivable from customers against Murabaha’ for the said credit purchase and credit sale respectively. It said the CRR/SLR and capital adequacy requirements on the said liability and financing, respectively, shall be applicable as per prevailing SBP
instructions, issued from time to time. Thirdly, the banks’ profit on the said transaction would be recognized as per the provisions of IFAS-1, it added. Theses instructions, the SBP said, were in line with the spirit of the IFAS-1. “Unlike normal Murabaha transactions wherein IBIs purchase the goods on cash and sell the same on credit, under credit Murabaha transactions, the IBIs purchase as well as sell the goods on credit as the suppliers allow credit for a certain period on the sale of goods,” it said. While normal Murabaha transactions are recorded and reported as per IFAS-1, the practice of recording and reporting of credit Murabaha transactions is not standardized across the industry. “Therefore, in order to bring standardization in recording and reporting of credit Murabaha transactions,” the above instructions were issued, the central bank said. These instructions are applicable with immediate effect. Murabaha is an Islamic banking product that denotes an approved mode of finance for the Islamic Banking Institutions.
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Thursday, 31 May, 2012
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news
PR needs Chinese recipes g
Government urged to implement China plan for revival of PR PESHAWAR APP
Acting President Khyber Pakhtunkhwa Chamber of Commerce and Industries (KPCCI), Ziaul haq Sarhadi on Wednesday welcomed the proposed plan of China regarding reforms in Pakistan Railways (PR) and making it a profitable organization. In a press statement issued here, Sarhadi who is also board member of the joint Pakistan and Afghanistan's Chamber of Commerce and Industries urged the government to make practical efforts its quick implementation. he said it would make the railways a profitable organization and there would be no need for bailout package. he claimed at the moment PR has a deficit of Rs 7 billion annually and still the organization awaits release of Rs 11 billion under the government's approved bailout package. he said China has always supported Pakistan in every difficult situation and the plan presented by China would help increase the annual income of PR up to Rs 31 billion. This would help the railways to earn pure profit for 45 years' he informed. Under the China plan, he said an electric train from Peshawar to Karachi and Rori to Quetta would be run and 240 engines would be included in railways system. This would also help bring back the share of 80 percent goods under the Afghan transit trade shifted to Bandar Abbas, through Pakistan's rout and railways will earn upto Rs. 20 billion under this head annually. he demanded massive allocation for railways in the upcoming budget. he said that the proposed China plan is suited for Pakistan as all its expenditure would bear by the friendly country.
Major Gainers
DOUBLE-TONNE SOUTHWARDS
Bears hug the daylight out of KSE g
Rupee-dollar parity is the new honey, as index takes a 200point nosedive KARACHI
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STAFF REPORT
TOCKS closed bearish amid thin trades on investor concerns over unstable macroeconomic situation and falling rupee dollar parity following statement by SBP chief on economic challenges. Viewed by Ahsan Mehanti, Director at Arif habib Investments Limited. The Karachi Stock Exchange (KSE) 100-share index plunged by 200.09 points or 1.42 percent to close at 13,871.76 points as compared to 14,071.85 points of the previous session. The KSE 30-share index shed 221.93 points to close at 12,021.35 points as compared with 12,243.28 points. The market turnover was down to 129.271 million shares after opening at 160.177 million shares. The overall market capitalization declined 0.08 percent and traded Rs 3.548 trillion as against Rs 3.601 trillion. Losers outnumbered gainers 99 to 201, while 67 stocks were unchanged. Mehanti added “Proposals for increase in gas development cess for industrial sector, fall in global stocks and commodities on Euro zone debt crises, limited foreign and institutional support played a catalyst
role in bearish sentiments in stocks across the board.” The KMI 30-share was down by 277.54 points to close at 24,093.60 points from its opening at 24,371.14 points. The KSE all-share index closed with a loss of 137.86 points to 9,771.30 points as against 9,909.16 points. Bankislami Pakistan was the volume leader in the share market with 15.507 million shares as it closed at Rs 11.42 after opening at Rs 12.04. Engro Corporation traded 9.283 million shares. D.G.K Cement traded 8.711 million shares. Jahangir Siddiqi Company traded 8.501 million shares. Fauji Cement traded 5.955 million shares. TRG Pakistan Limited traded 5.648 million shares. he said that the Investors remained cautious ahead of federal budget announcements and uncertainty over Pak-US relations ahead of disbursement of US aid pending progress over NATO supplies. On the future market, the turnover recoverd by over one million to 11.403 million against 10.043 million shares of Tuesday. The Rafhan Maize XD and Mithchells Fruit, up Rs 29.12 and Rs 15.05, led highest price gainers while, Unilever Food XD and Nestle Pakistan Limited down Rs 152.37 and Rs 50.13 respectively, led the losers.
Company
Open
High
Low
Close
Change
Turnover
Rafhan MaizeXD Mithchells Fruit Island Textile Pak Oilfields Indus Motor Company
2685.88 301.09 188.16 365.39 282.34
2800.00 316.14 197.56 375.30 296.45
2700.00 316.14 190.00 364.31 280.00
2715.00 316.14 197.21 370.92 286.54
29.12 15.05 9.05 5.53 4.20
23 534 202 1,701,568 460,800
Major Losers Unilever FoodXD Nestle Pakistan Ltd. Bata (Pak) Limited Siemens Pakistan Pak Services
3047.50 3928.57 636.36 700.00 162.64
2900.00 3980.00 665.00 700.00 170.77
2895.13 3851.00 605.00 690.00 154.51
2895.13 3878.44 613.10 691.67 154.93
-152.37 -50.13 -23.26 -8.33 -7.71
60 12 52 70 787
Volume Leaders Bankislami Pakistan Engro Corporation D.G.K.Cement Jah.Sidd. Co. Fauji Cement
12.04 113.70 43.14 16.25 6.26
12.15 113.60 43.01 16.35 6.28
11.05 108.02 41.04 15.57 5.97
11.42 108.50 41.49 15.62 6.10
-0.62 -5.20 -1.65 -0.63 -0.16
15,507,862 9,283,589 8,711,436 8,501,008 5,955,397
Interbank Rates US Dollar UK Pound Japanese Yen Euro
93.1876 145.0465 1.1779 116.0093
Dollar East Buy US Dollar Euro Great Britain Pound Japanese Yen Canadian Dollar Hong Kong Dollar UAE Dirham Saudi Riyal Australian Dollar
93.40 114.75 143.67 1.1684 89.75 11.84 25.27 24.76 89.71
Sell 94.00 116.62 145.98 1.1871 91.70 12.09 25.65 25.12 92.61
CORPORATE CORNER PTCL wins prestigious ESRI Special Achievement in GIS Award 2012 ISLAMABAD: Pakistan Telecommunication Company Limited (PTCL) has been honored by the prestigious U.S.-based Environment Systems Research Institute (ESRI) with the “ESRI Special Achievement in GIS Award 2012” for its outstanding achievements and organizational performance in geographic information systems (GIS) and programs. “PTCL’s GIS program stood out from amongst more than 100,000 others worldwide for its outstanding use of GIS technology in the existing network,” said Founder & President ESRI, Jack Danger on the occasion. “We have selected PTCL for this year’s award on the basis of its innovative applications of GIS technology in Pakistan.” PTCL has been recognized by ESRI for its expert deployment of GIS in Islamabad region based on ESRI’s ArcGIS platform with telecom intelligence added through Telcordia’s NE software for purposes of access network planning and documentation. Building further on its work, the telecom giant’s pipeline initiatives will be geared to create a geographical common operating picture for multiple applications. “This is yet another global recognition of PTCL’s technological edge and prowess in a competitive field,” said PTCL President & CEO, Walid Irshaid, on the occasion. “My heartiest congratulations and thanks go to all PTCL employees for their hard work and commitment, which continue to bring accolades for our Company.” “The ESRI GIS Award 2102 highlights our Company’s talent and fortifies our resolve to take PTCL to new heights,” said PTCL Chief Technical Officer, Muhammad Nasrullah, while congratulating his team on the occasion. The U.S.-based ESRI is the world’s largest GIS organization with more than 0.35 million affiliates and more than one million users. It is the only global company with a GIS portfolio covering all sectors of life starting from health to telecommunications. It is estimated that more than 70% GIS users worldwide deploy ESRI products in one form or other.
taking place within the company at senior and midmanagement levels and reflects a clear vision and focus on Warid’s commitment to keep serving the needs of its valuable customers. According to officials within the organization, this is just the beginning of more good things to come from Pakistan’s most trusted cellular operator. As part of their recent investments in customerfocused digital channels, the company's revamped website format is a great success as its new design is more organized and well defined and allows users to easily navigate through the entire range of Brands and offerings based on their requirements. All the latest offers by the operator are publicized through a slideshow, while links to social networking websites Facebook, Twitter, and YouTube are also embedded in the website. Developed in hTML5 with a neat and clean look, the new improved and more user friendly website comes up with very relevant features and short links for Postpaid, Prepaid, Glow, Products and Services, International Roaming, Customer Services, Network Coverage and Career pages.
It is important to make children feel special
Warid Telecom presents a fresh and revamped corporate website KARACHI: Warid Telecom recently revamped its corporate website on the occasion of its 7th anniversary. With a contemporary design, the new homepage www.waridtel.com encompasses a handful of dynamic functions which are aimed at enhancing the online customer experience. The new website is a result of positive changes
LAHORE: A childrens lucky draw was conducted all over Pakistan where the winners of which would then have their pictures on billboards, print media and
Minnie Minors stores all over Pakistan. Yesterday the winners of the contest were announced. There were 10 winners from Lahore, Karachi, Peshawer and other remote areas of Punjab and Sindh. A photoshoot of these kids was done in their respective cities so that they can become the faces (super stars) of Minnie Minors. These kids were given gifts in form of game boys, cinema tickets and stationary in their respective cities. It was a pleasure to see the parents of the winners who were delighted at seeing their kids being promoted and given such big platform of projection. The winners of this contest will get an immense confidence boost which is necessary for children so that they can reach their maximum potential as adults. This whole campaign was a new and innovative way to boost confidence in kids. This confidence building campaign was extended to a much wider range of children. Minnie Minors in collaboration with Shaan Lashari conducted a school campaign where specially designed confidence building games were conducted with the children of the schools in Islamabad and Lahore. We can all draw inspiration from this example that every child need a little push in the right direction and innovative techniques like these might just be the way forward.
Beat the heat in Pakistan with the LG Titan Series Air Conditioners
LAHORE: The heat has begun to reign on Pakistan. It’s time to bring out the summer checklist and tick off all the necessities before temperatures rise up at a quick rate. At the top of the list, and a vital device to have in every home and office is an air condition that has abilities to withstand the unbearable heat. LG Electronics (LG) has come up with the ultimate solution in preparation for the hot summers with the launch of its Titan Series air conditioners in the Pakistan. The Titan Series is a powerful air conditioner comprised of a ten meter windblast and capable of delivering powerful cooling, repelling the country’s hot weather conditions. The powerful cooling capabilities of the Titan series are accompanied by expansive and thorough air distribution. The Titan series is capable of projecting cool air at distances of up to 10 meters, the longest air distribution range in the industry. Meanwhile, the Jet Cool function and the 4-way Swing system distribute air in all directions at maximum speed. As a result, the Titan series can achieve optimal temperatures in the shortest possible time, re-
gardless of the outside temperature.The Titan series is built to last, an essential requirement in a region with a punishingly hot climate. The Tropical Compressor is designed to operate 24 hours a day and persevere through sandstorms and temperatures as high as 60°C. This is partially enabled by the Gold Fin, an anti-corrosion coating, which makes the heat exchanger more resistant to corrosion. Unique healthcare features have been added to the Titan series in order to provide customers with the most comfortable and relaxing home environment. The air projected from the Titan series is purified, thanks to the Auto Cleaning function, which also sterilizes the air conditioner’s interior to prevent the formation of molds and bacteria. health risks are significantly reduced by the Allergy & Virus Safe filter, which eliminates allergen, apatite and binder, as well as 99.9 percent of h1N1 viruses over the course of 24 hours. Meanwhile, the Triple filter reduces allergy symptoms and removes unpleasant odors, and the Plasmaster filter reduces microscopic contaminants and dust, as well as house mites, micro dust and pet fur. The LG Titan Series will not only cool the air, but also dehumidify it and filter it.
Proud drivers choose Shell Helix
KARACHI: The way you treat your vehicle says a lot about what kind of driver you are. At Shell we know that drivers who are proud of how their car runs, should have access to products that ensure performance. That’s why Shell has developed Shell helix E that cares for your car on the inside and out. Shell is proud to announce the launch of new Shell helix Synthetic Motor Oils, which have the highest API specifications in Pakistan. Shell is launching these new products across Pakistan to ensure consumers are aware of these new products in the market. As part of this launch we have introduced two new fuel efficient products: Shell helix Ultra E and Shell helix hX 7 E. Both Shell helix E products have been developed through our technical partnership with Ferrari and give your engine maximum performance. We have also upgraded our Shell helix hX 5 to a synthetic grade, which now exceeds the API SN/CF classification. Shell helix E is one of the most innovative engine oils, formulated with the latest engine lubricants technology to increase fuel economy.