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Saturday, 10 March, 2012
Turkey’s steel exporters stress PTA/FTA g
Turks show interest in Pak steel sector g Previous attempt (’04) at initiating PTA failed to materialise g Current bilateral trade stands at $740 million Karachi
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HouGH trade agreements like Preferential trade agreement (Pta) or Free trade agreement (Fta) are yet to be signed Pakistan and turkey despite the claims from both sides for the last eight or so years, visiting turkish steel exporters have stressed the need for just such agreement in order to boost bilateral trade. Expressions of interest 14 leading steel companies of turkey, which held detailed meetings with at least 40 companies’ heads here on at local hotel on Friday, expressed interest in investing in Pakistan’s steel sector. interestingly, around 200 companies in the international market currently cite lack of agreements as a major hurdle in the way of initiating trade with
Pakistan in steel products. talking with media persons, namýk Ekinci, Chairman of the Board of Directors, turkey’s steel Exporters’ association (CiB), said his country is the 10th largest producer of steel, which produced 34 million tones of the product last year. this year’s production is estimated at 39 million tones. at least 26 million tones were consumed in his country while 18 to 19 million tones were exported. turkey could also export flat sheets to Pakistan where the products have huge demand. Besides, due to its high quality, turkish steel has worldwide demand, he added. He hoped as soon as the agreements are signed between the two countries the trade of steel products would be started at competitive rates. to modern ways “During our visit we had the pleasure and honour of meeting
with top executives of Pakistan steel. in our meetings we informed them that as turkish steel producers, we will be glad to share our experiences with our brothers and friends in Pakistan. after receiving an official letter from the esteemed ministry, we will start necessary talks and make preparations to send Pakistan a team of turkish technicians and engineers in order to analyse the current situation of the mill. subsequently a report can be prepared to define the necessary steps to develop and modernise the factory according to current technologies”, he said. then we would share this report with valuable members of our association and we are sure that this cooperation will end up with the mutual benefit of both parties, he added However, a Pakistani steel merchant claimed that until and unless there was Pta/Fta between the two countries or subsidised production in the foreign
50MW wind energy When trade project set up in Thatta QUICK EDIT
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akistan can significantly reduce its oil import bill by shifting to renewable energy and meet its rising industrial and domestic energy demands without burning fossil fuels in thermal power plants, the most expensive form of fuel. With the ground breaking of country’s first 50MW Wind Power Project, a significant milestone in country’s history, Pakistan has taken first step in wind energy to bridge the current energy shortfall, which is adversely affecting the national economy. these views were expressed by Chief Executive and Managing Director of Fauji Fertiliser Company, Lt General (R) Malik arif Hayat, while addressing the ground breaking ceremony of country’s first 50MW Wind Power Project by FFC Energy Limited, a subsidiary of Fauji Fertiliser Company, at Jhampir, District thatta on Friday.
the project is nearly 60 per cent complete and will start its trial production in June 2012 which would be provided free of cost till the start of commercial operations in november 2012. He said Pakistan is currently meeting 70 per cent of its power need by burning fossil fuels, despite the fact that soaring oil prices in the last few years have made it very difficult to economically generate power with current energy mix and consequently sustain economic growth. Renewable energy sources like wind, solar, hydel and biomass are indigenous, abundant and green by their very nature. Moreover, project development time for wind and solar power projects is significantly lesser than coal or large hydel power projects, he added. FFC’s investment in the ongoing project of 50 mega watt is $ 135m. However company has committed to put up more wind farms with total capacity of 250 mega watts.
oME to think of it, islamabad has been a little too eager about the whole MFn and negative list issue. and even if the initial euphoria of the breakthrough, however soured by the subsequent barter association with Eu trade concessions (later denied), caused concerned quarters to overlook crucial fine tuning, there have been far too many causes for concern since the Dec 31 phasing out of the negative list was decided and declared. What is worse, it is now clear that pundits of the country’s most significant sustenance and export industry – agriculture – were not taken on board. now rice growers are up in arms, fearing outright wipe out absent fairer treatment. interestingly, their point of concern is surprisingly easy to understand. Which of the two is more elastic? a government stressing trade liberalistion and (obvious) subsequent advantages? or pillar sectors, warning of breakdown in case of too much too quick? simply put, so long as the indians protect their farmers far more seriously than we do, and have more secure energy, and more affordable inputs, a liberalisation timeline of nine odd months is simply insufficient for the sector to re-posture. While the commerce ministry’s (read minister’s) initiative is appreciated, it is strange that other organs of the state are not questioning imminent surrender of substantial comparative advantage. true, trade is good, but not when erstwhile production advantage is compromised. and if it’s deliberate, well, it’s outright ridiculous. there is still time for a rethink. not about the MFn or the negative list. Just about its phasing out, and preserving the original intent of the exercise – trade benefit for all.
country, trade at competitive cost was not possible. there were much cheaper products available in other countries like China. However, he said turkish products are highly qualitative. Been here before it bears noting that a proposed Pta, aimed to lead the two islamic countries to a Fta to strengthen bilateral trade, was not signed since it was suggested in 2004 due to the lack of interest, mainly on the part of turkey. according to sources, Pakistan was willing to negotiate and finalise the Pta as both nations already agreed in the Framework agreement on Pta of 2004. Pakistan was looking for an Fta, provided it was permitted by turkey’s commitments under its customs union with European union (Eu). However, turkey has been working on a go-slow policy as 80 per cent of the tariff lines of turkey were bound with the
European union (Eu) customs union. in addition, turkey could not agree to allow substantial concessions for the remaining 20 per cent tariff lines as it was a politically sensitive issue. Current bilateral trade stands at a meager $740 million. Pakistan’s export to the foreign country has also increased by 50.35 per cent during the first six months of the financial year 2010-2011, as islamabad exported goods worth $320.56 million during July to December 2010 compared to $213.2 million in the corresponding period of 2009. Pakistani exports to turkey include rice, sesame seeds, leather, textiles, fabrics, sports goods and medical equipment. While, Pakistan’s imports from turkey primarily include machinery and parts, chemical elements and compounds, chemical materials, nonferrous metals and coloring material, etc.
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Pakistan’s fastest growing companies break records Program covers region, finds Pak second to Italy in entrepreneurial growth and transparency g Accomplishment “impressive” given challanges g
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Staff Report
LLWoRLD network has announced the winners of Pakistan Fast Growth 100 (Pakistan100), a ranking of the fastest growing non-listed companies in the country. the Pakistan100 is a program of allWorld network in partnership with Harvard Business school Professor Michael Porter and presented by Cyan Limited. Growing at 55 per cent a year and collectively employing 41,000, the Pakistan100 were announced worldwide at the Pakistan100 awards & summit in Lahore. the Pakistan100 awards & summit brought together Business and government leaders including Hussain Dawood, CEo of Dawood Hercules, Muhammad ali, Chairman of sECP, us Chargé d’affaires ambassador Richard Hoagland, us Consul General in Lahore nina Maria Fite and Dr abdul Hafeez shaikh, Pakistan’s minister for finance and revenue, to name a few. in the midst of challenging political and economic circumstances, the Pakistan100 broke many allWorld records in relation to 15 other country rankings in the region, coming in only second to
turkey in terms of entrepreneurial growth and transparency. Many of the companies have been founded in the last ten years, and have already grown to be industry leaders. an average of only 42 years old, most Pakistan100 entrepreneurs plan to establish another company in the next two years. “the Pakistan100 are a testament to the zeal and passion of the Pakistani private sector. their accomplishment is even more impressive given the challenges that they have had to endure in the recent years,” stated samad Dawood, CEo of Cyan Limited. “Cyan’s goal is simple: invest in businesses that have the potential to take center stage in the global economy while improving the lives of millions in the process. We believe the Pakistan100 are the companies to do just that.” the Pakistan100 was an unprecedented partnership between allWorld network, Cyan Limited, and partners Mishal, P@sHa, LadiesFund, CioPakistan, tiE, abacus Consulting and Rozee.Pk. thousands of emails were sent to companies around the country inviting them to compete for a spot on the Pakistan100. Companies had to be rapidly growing private nonlisted companies, and they could come from any industry and any
part of the country. Each company had to provide audited statements to confirm their revenues and each applicant’s business practices and ethics were strenuously vetted. the fastest growing of these became the inaugural Pakistan100. Leading the Pakistan100 is number 1 company e2e supply Chain Management, which grew 1,918 percent between 2008 and 2010, with 2010 revenues above $50 million and 297 employees. Launched in 2005, e2e has risen to become one of the most successful end-to-end logistics companies covering Pakistan and afghanistan. taking the second spot for Pakistan was Exceed Private Limited, with a growth rate of 1,320 percent and 90 employees. Founded by the youngest entrepreneur on the Pakistan100, Exceed rose to prominence for its historic restoration of saidpur Model Village, redeveloped as an 18th Century city-museum with 5,000 residents. Pakistan also had the most number of women entrepreneurs of any allWorld list at eight percent, and 7th ranked Luscious Cosmetics of Pakistan topped the list of the fastest growing women entrepreneurs with growth of 392 percent and 82 employees. the Pakistan100 entrepreneurs have built globally competitive businesses with one
quarter of their revenues coming from international markets and companies such as (#12) having secured VC investment from silicon Valley. Commenting on the success of Pakistan100 at the awards Ceremony, allWorld co-founders Deirdre Coyle and anne Habiby urged the Pakistan100 to go further “When no one expected much, the Pakistan100 broke records for growth, transparency and competitiveness. they are the personification of what every country dreams of having. now raise the bar higher and build Pakistan as a leading entrepreneurial nation.” added Pakistan100 Founding Director Malik ahmad Jalal, “as the Pakistan100, you send a signal to everyone in Pakistan and around the world that Pakistan is open for business. there is no more important message to secure peace and prosperity.” the Pakistan winners are in Lahore for the two-day Pakistan100 awards & summit from March 910. the summit will be an action packed two days featuring the Pakistan100 along with prominent speakers, panel discussions, networking sessions, and Pakistan100 awards Dinner. over 160 representatives from winning companies will be in attendance and close to 150 ViPs and influencers.
Surcharge on petrol price criticised LahOrE
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usinEss Forum Punjab (BFP) President ibrahim Qureshi has criticised the government for unfairly taxing the common man to the tune of Rs60-100 billion per annum through an ad valorem surcharge on the price of petrol. He was addressing a press conference at a local hotel. nabeel Hashmi (Chairman BFP), sohail Yousaf (General secretary), Hussain Fazal (Vice President) and other office bearers of the Forum were also present on the occasion. President BFP ibrahim Qureshi said the federal government’s methodology to impose an ad valorem surcharge on the price of petrol is based on a percentile formula resulting in unreasonable and
disproportionately high tax burden, especially on the general public. He emphasied that no surcharge should
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HE Lahore Chamber of Commerce and industry (LCCi) on Friday appealed to the prime minister to disband national Electric Power Regulatory authority (nEPRa) for its failure to protect consumers’ interests under Clause 31 of the nEPRa act. LCCi President irfan Qaiser sheikh took strong exception to nEPRa’s move to increase electricity tariff by 83 per cent (Rs6.50 per unit) for the billing month of april, the single largest raise in the history of Pakistan, under monthly fuel adjustment mechanism. He said the unprecedented increase would break nEPRa’s own record of Rs3.03 per unit increase allowed a few days ago to be recovered in
be levied on petrol prices. “Before we begin fixing this faulty taxation system, we must curtail expenses
and reduce deficits being incurred directly a result of corruption and incompetence”, he added. Regarding MFn status to india, ibrahim said BFP supports a pro-trade policy not only with india, but throughout the south asian region. Currently, he said, 90 per cent of our trade takes place outside the region against an ideal situation of 2/3rds trade within regional partners. However, we need to listen to and seriously address the concerns of the industrial/business community before jumping to a December 31 deadline of removing the negative list. He said BFP is completely against this unfair timeline and demanded a 36-month initial period to maintain the negative list with a review at the end of this period before such a major policy decision is undertaken.
SMEDA, LCWU ink MoU for entrepreneurship programme LAHORE: small and Medium Enterprises Development authority (sMEDa) and Lahore College for Women university inked a Memorandum of understanding (Mou) to execute a joint programme on entrepreneurship. the manuscript of the Mou was signed by Mr Yousaf naseem khokhar, CEo sMEDa and Dr sabiha Mansoor, Vice Chancellor, LCWu at Lahore College university. the signing ceremony was attended by Mr Liaqat ali Gohar DGM administration and Public Relations and Ms aisha kamran siddiqui, in-charge Women Entrepreneurship Cell sMEDa. under the Mou, both organisations shall take concrete steps to exchange technical expertise in developing and executing “Entrepreneurship Programme” to be launched at LCWu. Both the parties would regularly share information regarding their initiatives, programmes and activities along with repository of information on women development. sMEDa, under this Mou would also be facilitating LCWu student delegations’ visits to sME houses on need basis. Both parties would also manage to regularly participate in each other’s activities for Women Entrepreneurship Development, including LCWu upcoming Female Job Fair. Staff RepoRt
PIAF dubs Kalabagh essential for survival LAHORE: Pakistan industrial and traders associations Front (PiaF) Friday called for a Punjab assembly Resolution to pave the way for early construction of kalabagh Dam, as any further delay while waiting for a consensus would turn the country into a desert due to an acute water shortage. While talking to a delegation of Lahore township industrial association, Chairman PiaF Engineer sohail Lashari said Punjab would be the biggest loser if kalabagh Dam is not constructed, as the indian government is spending billions of rupees to destroy Pakistan’s agriculture sector. He said the federal government’s indecision on this vital project of national importance is also raising many questions. He said all members of the Punjab assembly should unanimously pass a resolution in favour of kalabagh dam as shortage of electricity in the near future would not only destroy the industry, but also turn the country into a trading hub with a highest rate of unemployment. the PiaF Chairman said the Chief Minister Mian shahbaz sharif was well aware of the consequences of electricity shortage, therefore members of Punjab assembly should act fast to move forward for the construction of kalabagh dam instead of waiting for some miracle to happen. Engineer sohail Lashari said at a time when all state organs including the supreme Court in india were making all out efforts to stop Pakistani waters, the government in Pakistan should also take measures to save the country and its economy from all such conspiracies. Staff RepoRt
SECP registers 353 companies in February ISLAMABAD: the securities and Exchange Commission of Pakistan registered 353 companies in February as compared to 356 companies during previous month. Private companies have the highest share in the new incorporations of 319, followed by 21 single-member companies, five public unlisted companies, three nonprofit association and five foreign companies. of the five foreign companies from the us, France, uk, spain and south korea, four were registered in islamabad while one was registered in Lahore. nationals from Qatar, Lebanon, australia, Portugal, italy, north korea, ukraine and Panama invested in seven new local companies. sectorwise breakdown shows that services sector had the highest share with 46 companies, followed by trading with 44, hajj and umrah services with 30, construction with 22, it with 23, food and beverages with 16, tourism with 20, communication with 18 and broadcasting and telecasting with 10 companies. the Company Registration office in Lahore registered 115 companies, followed by in karachi and islamabad offices registering 93 and 92 companies respectively. the remaining in Peshawar, Multan, Faisalabad, Quetta and sukkur registered 19, 18, 10, 4 and 2 companies respectively. Staff RepoRt
LCCI for disbanding NEPRA the billing of month of March. He also said the combined effect of the two increases will be about 123 per cent that will translate into an additional burden of Rs9.53 per unit on all consumers. irfan Qaiser sheikh said the price of electricity for consumers using 301-700 units per month is Rs10.65 per unit and for those utilising more than 700 units per month it is Rs13.29. it means, he indicated, these two increases would double the price of electricity. He opined that the nEPRa move is bound to increase the incidence of electricity theft that already hovering around 25 per cent of the 22 per cent line losses and eating
up Rs50-75 billion. the LCCi president observed that nEPRa officials pose that they regularly conduct public hearings but in fact nEPRa try to fool masses. they made announcements in the English press and hold these public meetings in air-conditioned halls of five star hotels, where common man has no access to express feedback. He suggested that nEPRa should announce these meetings on both national print and electronic media in urdu language and choose a public place for these so called public hearing. He questioned how industry would remain competitive at such high price of
electricity, which was one of the basic industrial raw materials. We already have the highest tariff in our region as in india, the electricity tariff for industry is 10.5 cents, in Bangladesh 10.75 cents and in sri Lanka it is again 10.75 cent whereas in Pakistan tariff is already 15 cents meaning that 45 per cent higher as compared to the region. With this proposed massive and unprecedented increase, Pakistan will have double the tariff of electricity what the regional countries are offering to their trade and industries leaving Pakistan totally uncompetitive and unviable in the international marketplace. “the country had already lost a num-
ber of international markets to China, Bangladesh and india due to high-cost of doing business and the decision to increase power tariff would make the Pakistani goods more uncompetitive.” He said the business community was unable to understand why instead of taking measures to control line losses and enhance cheap power generation up to capacity, policies are being evolved to add to the miseries of the business people. irfan said negative growth witnessed by the Large scale Manufacturing sector was indeed an eye opener and a wakeup call for the government. He said the industry needs cheaper electricity to keep units operational and complete the export orders well within the given timeframe, but only because of the shortage of electricity exports are being compromised.
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Trading volume climbs to ‘Mismanagement, policy historic 553m shares at KSE inertia responsible for
fragile economic growth’
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Staff Report
RaDinG volume at the karachi stock market hit a new record on Friday, climbing to 553 million shares by the time the benchmark index closed for the week. “stocks closed bullish, lead by second and third tier scrips on strong valuations,” viewed ashen Mehanti of arif Habib securities. the ksE 100-share index closed at 13,352.74 points against 13,271.39 points of the previous day. the index climbed to the intraday high of 13,425.65 points before sliding to the intraday low of 13,271.39 points. “the investors’ hopes for reformed CGt regime implementation from april 1, higher global commodities and stocks played a catalyst role in bullish sentiments
isLaMaBaD Staff RepoRt
P post major earning announcements at ksE,” said Mehanti. the total traded shares jumped to the record high of 552.793 million shares against thursday’s 358.177 million shares. the trading value also climbed to Rs7.11 billion from Rs5.884 billion of the previous session. “Exchange volumes hit record high on renewed foreign interest, recovery in global
stocks and commodities on developments in Greece crucial debt swap, resumption of gas supplies in fertiliser sector, easing circular debt concerns in power sector after expectations for increase in Discos electricity tariff,” viewed analyst Mehanti. Market capital remained up and was recorded at Rs3.472 trillion against Rs3.448 trillion from the last trading day. in total 367
scrips were traded of which 205 gained, 108 lost while 54 remained unchanged. the turnover in future contracts rose to 15 millions shares from 13 million of thursday. niB Bank Limited was the volume leader as its traded shares were accounted at 86.580 million each priced at Rs1.89 in the opening and Rs2.85 in the closing.
Gold turns higher on US jobs data, oil gains g
Gold reverses initial losses; oil and equities gains help g Gold set for flat finish for week g Bullion initially slid toward 200-day moving average
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oLD rebounded in heavy trade on Friday, reversing early sharp losses as the metal took heart from gains in crude oil and us equities’ after an encouraging us nonfarm payrolls report. Bullion, which has taken to following riskier assets, rose in the face of a dollar rally and diminishing hopes of further monetary stimulus from the Federal Reserve after us employment grew strongly for a third straight month. analysts said gold prices have already factored in a re-
covering economy which lessened the need of more monetary easing. Gold notched a five per cent drop last Wednesday after Fed Chairman Ben Bernanke did not signal more easing was on the way. also lifting the metal was Greece’s winning acceptance of its bond swap offer to private creditors. it also found technical support from its key 200-day moving average. “Despite the severity of the early steep losses, we have already seen fairly decent buying coming in, and the firm oil prices were helping,” said James steel, chief commodity
analyst at HsBC. “Gold is showing a lot of resiliency and it may rebound as emerging-market demand is gradually reviving,” steel said. spot gold gained 0.5 percent on the day to $1,708.29 an ounce by 11:34 a.m. Est (1634 GMt), having fallen to a session low of 41,677.34. Gold’s gains on Friday have largely erased losses from earlier this week. us gold futures for april delivery were up $10.40 at $1,709.10 an ounce. spot silver rose 0.9 percent to $34.14 an ounce.
akistan institute of Development Economics (PiDE) has noted with concern that the key problems afflicting the economy including energy shortages that have held back investment and growth have not been tackled effectively by the incumbent government, showing signs of mismanagement and policy inertia. this independent assessment has been made by PiDE in its macroeconomic brief for the current month released on thursday. it worryingly notes that with the government embroiled in political controversies and election year approaching, pressing economic issues are likely to remain on the backburner dimming hopes of a reversal in economic situation at least in the near term. at the same time, the government may be tempted to adopt populist measures ahead of the elections that could further compound economic difficulties and challenging times lie ahead. it finds that there is considerable uncertainty prevailing about the future course of economic policies, as the major political parties have largely confined their attention to popular sloganeering and have not come up with their detailed economic strategies so far. it says that despite some positive developments including easing of inflation and reduction in fiscal deficit, Pakistan’s economy remains in a precarious state with sluggish growth, fragile macroeconomic fundamentals, and heightened vulnerability to balance of payments shocks. the present government may have little inclination to undertake structural reforms at a time when it has its energies focused on the next elections, we believe that it still has an opportunity to implement a minimum agenda focused on correcting macroeconomic imbalances as well as on setting the future direction for sustainable economic growth. Pakistan cannot afford to lose time and the cost of policy paralysis would be very high in terms of macroeconomic instability and lost opportunities for growth. to begin with, the forthcoming budget should aim at achieving fiscal stability by avoiding politically driven public expenditures, cutting wasteful spending, and channeling resources into key public investments in energy, infrastructure and human resource development, the key drivers of economic growth and development. these measurers need to be supported by prudent public debt management through induction of professionals in the debt management office which will help reduce the cost of public debt. the government has already approved the Framework of Economic Growth which lays out a comprehensive strategy for long term competitiveness and growth focusing on governance and institutions, markets, connectivity and cities. the government would do well to expedite the process of operationalising this growth strategy by initiating specific policies and programs in key strategic thrust areas of the growth strategy.
CORPORATE CORNER PTCL to connect 1400 Habib Bank branches across Pakistan
KaRaCHI: Qatar airways Chief executive officer akbar al Baker announces new routes at a packed press conference on the opening day of ItB Berlin in the German capital. PRESS RELEASE
Islamabad, Ankara to cooperate in mass transit, solid waste management and development of Ankara Park ISLAMABAD: the Greater Municipality of ankara, the sister city of islamabad, would extend its full cooperation to the Federal Capital of Pakistan, islamabad in the areas of Rapid Mass transit, solid Waste Management and Development of ankara Park in the capital city of Pakistan. this was decided in a meeting of Chairman Prime Minister task Force on islamabad Faisal sakhi Butt and Mayor of ankara Mr. Melih Gokcek, wherein both sides have agreed to develop further cooperation on the issues of common interest including provision decent public transport facilities, up gradation of the civic services and improvement of the cultural and recreational facilities in line with needs of the modern metropolitans around the world. PRESS RELEASE
ISLAMABAD: Pakistan telecommunication Company Limited (PtCL), the largest integrated telecommunication services provider of the country, has inked a Managed services network agreement with Habib Bank Limited (HBL) to provide networking for the leading bank’s 1400 branches across Pakistan. the telecom giant’s latest initiative in the business and enterprise sector will make possible deployment of primary and backup data connectivity, information technology equipment, support and maintenance in every single HBL branch to provide seamless services for the bank. “PtCL’s customer focused strategy coupled with its comprehensive network infrastructure is the only choice for enterprises to avail one-window iCt solution,” said PtCL senior Executive Vice President Business Development, Hamid Farooq, on the occasion of agreement signing held at PtCL CtH Building, karachi. “as the nation’s largest integrated telecommunication services provider, it is our duty and obligation to provide services of international standards to public sector, as well as financial, educational and enterprise markets.” PRESS RELEASE
Mobilink Foundation partners with Pink Ribbon LAHORE: Mobilink Foundation has partnered with Pink Ribbon to spread awareness about Breast Cancer through their Ladies Portal. Pakistan has the highest rate of Breast Cancer amongst all asian countries. Every 9th woman in Pakistan is at high risk of getting Breast Cancer. over 40,000 deaths every year are caused by this
cancer which can be treated if detected early. With early detection the chances of surviving Breast Cancer are more than 90%. Mobilink Foundation in partnership with Pink Ribbon is striving to make life saving information on breast cancer easily available. one of the biggest challenges faced by Pink Ribbon in Pakistan is that women do not have access to information about this cancer and often do not feel comfortable seeking this information from peers or doctors. in order to provide essential information to women in the privacy of their own homes, Mobilink partnered with Pink Ribbon to create simple audio messages that provide critical information on breast cancer such as how to recognize the signs and symptoms, conducting a self-exam and what to do in case of serious concerns. Mobilink customers can dial 8585 from their phone and access the ladies portal where they will be guided to information on breast cancer through a series of voice prompts. in order to access the full range of information customers need to subscribe to the ladies portal at just Rs. 1 plus tax per day. the portal also provides information on other matters of interest to women such as tips on healthy eating and exercise. PRESS RELEASE
neurs, and particularly the rural women in the national economy. While sharing her thoughts, Deputy Mission Director usaiD/Pakistan, Ms. karen Freeman said, “Gender inequality is evident in the employment sector. this leads to very limited opportunities for women to venture into domestic markets with their own businesses especially in embellish sector. this is what usaiD is endeavoring to change through its Entrepreneurs project in nine districts across country. We are creating business and livelihoods prospects for 26000 women. the event was organized by usaiD through its Entrepreneurs project implemented by MEDa who is an active international nGo in economic development with specific focus on women empowerment. PRESS RELEASE
USAID celebrates International Women’s Day ISLAMABAD: the united states agency for international Development (usaiD) celebrated international Women’s Day today in islamabad by hosting a panel discussion to provide inspiration, motivation, excitement, connection and opportunity to the women entrepreneurs in Pakistan. the theme of the event was “Connecting Entrepreneurs – inspire Future” , which highlighted the role and significance of women micro entrepre-
KaRaCHI: etihad airways, the national airline of the United arab emirates, has launched its 2012 Corporate Social Responsibility program in pakistan with a visit to the Deaf Reach School and training Centre in Karachi – pictures shows: Mr. amer Khan, area General Manager, etihad airways, Ms. Samra Muslim, Mr. Richard Geary, executive Director, feSf, Ms. anita florijn, Director, feSf with the group student at the Deaf Reach School and training Centres. PRESS RELEASE