Trade Chronicle Sep-Oct 2015

www.tradechronicle.com Vol. 62 - Issue Nos. 09 & 10 September-October 2015 Rs. 200/- 

Trade Chronicle 

PAKISTAN'S LEADING MONTHLY MAGAZINE OF COMMERCE, INDUSTRY & PUBLIC AFFAIRS 

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Editor: 

ABDUL RAB SIDDIQI 

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ABDUL RAFAY SIDDIQI 

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EDITORIAL 

Textile package: A ray of hope for the non-value added sector 

COMMENTS 

China-Pakistan Economic Corridor (CPEC) needs 

fast track implementation 

Farmer package hopes to yield 

ARTICLES & FEATURES 

Pakistan – Turkey economic and trade relations 

By Amjad Rafi, 

Chairman Pakistan – Turkey Business Council 

NBP wins FPCCI achievement award for third consecutive year 

Rich tribute paid to Liaquat Ali Khan and Hakim Said 

54th annual general meeting 

Collective efforts, truthfulness needed for resolving business 

community issues: Siraj Teli 

13th Int’l Exhibition of Plastics, Printing and Packaging wraps 

successfully 

Plastic/food packaging: experts elaborate modern technological 

solutions 

Plasti&Pack, IFTECH 2015 fetches $100 million deals 

CFA Pakistan awards Arif Habib Limited “Corporate Finance 

House of the Year” and “Best Research Analyst of the 

Year – 2nd Runner-up” for the year 2014 

REGULAR FEATURES 

People & Events 

Leather Industry 

Port & Shipping News 

Cement Industry 

Telecommunication News 

Automobile News 

Banking & Insurance News 

Aviation & Hotel News

TRADE CHRONICLE 

We begin with the name of Allah, the Magnificient 

Textile package: 

A ray of hope for the non-value added sector 

From 

Editor's 

Desk 

Pakistan Textile Industry is not only catering the local demands 

but also ranked backbone of country’s export portfolio. It has 

an overwhelming impact on the economy, contributing 57% to 

the country’s exports. Its performance is vulnerable to internal 

and external factors. To protect local industry from competition, 

dumping, cheap import and to justify demands of non-value 

added sector and value addition sector – is always a challenging 

job for the successive governments and this could further be 

aggravated when there are eleven associations, representing 

different sectors right from basic textile to the value added sector. 

A classic example of the issue was surfaced when Mian 

Muhammad Nawaz Sharif, Prime Minister of Pakistan 

announced partial textile package for the non value added 

sector recently. All Pakistan Textile Mills Association (APTMA) 

has acknowledged Govt. incentives and publicly said the 

measures will safeguard domestic market for the textile industry 

of Pakistan. Textile Industry is hopeful that rest of the eight 

demands will soon be considered favourably and resolved by 

the Government for the viability of Industry and Increasing 

Exports of the Country. 

But the value-added textile sector has slammed the imposition 

of 10 per cent Regulatory Duty (R/D) on import of cotton yarn 

and fabric from India on the grounds that a case of anti-dumping 

filed by spinners’ body is already pending before the National 

Tariff Commission (NTC). The leaders of associations of hosiery, 

readymade garments, knitwear and sweaters, cotton fashion 

apparel, etc pointed out that since the NTC was hearing a case 

of anti-dumping against Indian cotton and yarn, the government 

could not unilaterally take a decision of imposing 10pc R/D. 

ABDUL RAB SIDDIQI 

Thus it was govt.’s obligation that it should have taken on 

board the value addition sector of textile or sought comments 

from NTC to avoid their suffering and hence provided level 

playing field to all manufacturers. The value addition fetches 

good export revenus as well as provides a lot of employment 

opportunities. Any haste decision in this regard can deprive 

same. A point to be considered always. 

A local research house pointed out that the much awaited textile 

package was formally announced by the government on 17th 

Oct’15 wherein the government announced i) 10% regulatory 

duty on the import of Indian yarn and grey fabric, in addition 

to the 5% custom duty already in place ii) 1pps cut in Long 

Term Finance Facility (5% from 6%) and iii) 1pps cut in Export 

Refinance Facility (3.5% from 4.5%). Following the imposition 

Trade Chronicle - September - October 2015 - Page # 04


of aforesaid duties to be effective 

from 1st Nov’15, the price of 

local yarn increased by 6%. 

While the announcement of this 

package has provided some 

respite to the spinning and the 

weaving sector, the value added 

sector will suffer from an 

increase in input cost brought 

about by the rising prices of 

cotton, yarn and grey fabric. 

The decision is likely to hurt 

the value-added (woven and 

knit) apparel exporters, who 

claim that the low-cost import 

of yarn and fabrics, especially 

from India, had helped them 

cut their costs and stay 

competitive in the 

international market. 

But at the same time, Govt. 

delayed decisions on other 

major demands of the APTMA, 

like reduction in electricity 

and gas prices, cut in GIDC 

rate on gas supplies for 

captive power, and five per 

cent rebate to offset taxes on 

textile exporters. The industry 

says the resolution of these 

issues is crucial for restoring 

the economic viability of the 

textile sector and to stem 

decline in exports. 

The country’s textile exports 

have been decreasing for the 

past two years, dropping by 

over 10 per cent during the 

last financial year and 14 per 

cent in the first quarter of the 

present fiscal to September in 

spite of duty-free access to the 

28-member European Union. 

The industry blames 

electricity prices that are the 

highest in the region, dumping 

of subsidized, cheap Indian 

yarns and fabrics, heavy taxes 

on exports and energy shortages 

for the plummeting exports. 

EDITORIAL COMMENTS 

China-Pakistan 

Economic Corridor 

(CPEC) needs fast 

track 

implementation 

It is a matter of great 

satisfaction and demands to be 

acknowledged that the 

Government, Armed Forces and 

Opposition are on the same 

page for the early 

implementation / completion 

of China – Pakistan Economic 

Corridor (CPEC). The harmony 

in govt. canvas will hopefully 

attract local and foreign 

funding necessary for the early 

completion of the project and to 

usher new era of infrastructure 

development and economic 

activity in the country in 

general and in provinces in 

particular. 

A high-level delegation of 

working group led by special 

representative of Chinese 

Ministry of Foreign Affairs 

Ambassador Liu Guangyan in a 

meeting with Punjab Chief 

Minister Shahbaz Sharif, 

recently urged speedy 

implementation of CPEC 

projects too. Hopefully, China 

will also invest $ 11.8 billion in 

infrastructural projects and 

$33.8 billion in various energy 

projects as envisaged, which 

would be completed by 2017. 

To brush aside wrong 

impression of change in CPEC 

route, the President Mamnoon 

Hussain has once again 

reiterated that it will be built 

along the stipulated route, with 

Balochistan being the main 

beneficiary of the project. 

Talking to editors, journalists 

and parliamentarians of 

Balochistan at the Governor 

House recently, he said the 

Chinese government had 

started work on the project and 

its engineers and other officials 

had arrived for the purpose. The 

government had taken steps to 

ensure their security, he said. 

“The army has established a 

new division which will provide 

full security to the Chinese 

working on this important 

project,” Mr Mamnoon said. 

We hope now all the rumours 

shall die down after clarification 

at the highest level of the Govt. 

Chief of Army Staff Gen Raheel 

Sharif has also said recently 

that China-Pakistan Economic 

Corridor Project would be a 

game-changer and usher in an 

era of prosperity in the region. 

“We will do everything to make 

it a success,” he said during 

interactions at the 

International Institute for 

Strategic Studies and House of 

Commons in London, according 

to tweets by Director General of 

the Inter-Services Public 

Relations Lt Gen Asim Saleem 

Bajwa. 

The encouraging statement 

from donor agencies showed 

that how importance the project 

in the eyes of lending agencies 

and government should avail all 

possible help it can muster from 

aboard. 

Jin Liqun, President-designate 

of the Asian Infrastructure 

Investment Bank (AIIB) has said 

that CPEC would benefit many 

countries in the region. 

International Monetary Fund 

(IMF) observed that CPEC has 

the potential to raise 

productivity and growth as long 



as the projects are wellmanaged 

and potential risks 

are mitigated. 

IMF’s Chief De Mission for 

Pakistan Harold Finger has 

stated in an interview that 

CPEC is of great significance for 

economic development of 

Pakistan as it can provide the 

required infrastructure to 

improve 

Pakistan's 

competitiveness and create a 

business-friendly environment. 

The World Bank says that 

investment in Pakistan is 

expected to increase to 15.4 per 

cent of GDP by 2017 on account 

of operationalisation of CPEC 

related projects. However, the 

slowdown in China, if prolonged, 

could have adverse effects on 

investment and trade, and 

Pakistan may not have the 

ability to absorb the external 

shocks in the absence of strong 

buffers, according to the focused 

report on Pakistan. Let’s pray 

it would not be happened as lots 

of hope have been pinned by 

the local industries with CPEC. 

Experts have rightly suggested 

setting up an Infrastructure 

bank to provide a rupee 

component for the projects 

envisaged under the CPEC in 

case there is any hesitation 

from the either side. 

The government has last year 

released list of some major 

projects though Economic 

Survey 2014-15. What is the 

status of each project and how 

local investors and services 

providers can take part therein 

may please be facilitated 

through a government-run 

online portal listing the various 

projects, the sources of funding, 

the stages of completion and 

weekly updates to publicly and 

unequivocally demonstrate 

that CPEC projects are being 

pursued evenly and in a costeffective 

manner. 

The government should 

establish office in each province 

where people can take firsthand 

information and planned 

their participation in creating 

employment opportunities and 

private-sector investment. 

Farmer package 

hopes to yield 

Prime Minster, Mian Nawaz 

Sharif has finally got a nod 

from a local honorable court 

to implement its National 

Kissan Relief Package (NKRP) 

in letter and in spirit. The 

intention of government was 

noble but the timing for 

announcement was misjudged 

that delayed the start of 

package. The quick reaction 

from local fertilizer importers 

and manufacturers came in 

shape of reduction of prices 

of potash and phosphate 

fertilizers, which will help a 

lot in balance use of fertilizers 

and in country as sometime 

farmers could not use 

phosphate fertilizers owing to 

the high cost. 

Acknowledging the hardship 

faced by the farmers because 

of unfavourable weather 

conditions, falling income and 

declining trend in prices of 

agricultural commodities in 

domestic and international 

markets amid rising cost of 

production, Prime Minister 

Nawaz Sharif has rightly 

announced a relief package of 

Rs341 billion to revive the 

farm sector - commented by 

media. The package provides 

a direct benefit of Rs.147bn to 

small farmers across the 

country whereas an additional 

loan of Rs.194bn will be 

available to the agriculture 

sector. 

Earlier, the farmers of Punjab 

have complained that the 

increase in input costs due to 

indirect taxes, increased cost 

of electricity to run tube-wells, 

and low prices in the local 

market meant that farmers 

were going to be unable to 

break even from their crop 

sales. Concerns were also 

raised over the lack of 

incentive to export products, 

fears that vegetables from 

highly subsidised India would 

flood the market and the 

dismal position of promised 

subsidies on agri-machinery, 

including tractors. Key among 

the demands was one for a 

support price for cotton and 

rice. Farmers’ hue and cry 

finally has been heard by 

Prime Minister Nawaz Sharif 

who has responded in a big 

way by announcing a Rs.341 

billion package apparently 

designed to shield farmers 

against the slump in 

agricultural commodity prices. 

Agriculture constitutes the 

largest sector of our economy. 

Majority of the population has 

been directly or indirectly, 

dependent on this sector. It 

contributes about 24 percent 

of Gross Domestic Product 

(GDP) and accounts for half of 

employed labour force and is 

the largest source of foreign 

exchange earnings. It feeds 

whole rural and urban 

population. Pakistan economy 

is agriculture-based and with 

this package one should hope 

betterment in farmer’s life as 

well as availability of cheap 

commodities to the people as 

well. 



Pakistan and Turkey enjoy the best 

of relations, politically, historically and 

culturally. Turkish people use the 

word ‘KARDESH’ (beloved friend) 

for us. But trade and economic 

relations do not reflect the brotherly 

relations and much is to be achieved 

in this area both by the governments 

and private sector business of the two 

countries. 

The balance of payment has been in 

favour of Pakistan for the last 12 

years as Pakistan exports are textile 

raw materials i.e. cotton yarn, cotton 

cloth, Denim cloth etc. and we mostly 

import raw material from Turkey. 

IMPEDIMENTS 

The major impediments relate to the 

governments of both countries who 

should facilitate and then leave 

business to business community of the 

two countries. 

1) Turkish Government, in order to 

protect their textile industry imposed 

‘COUNTERVAILING SAFEGUARD’ 

import duties on textile products and 

textile raw material from all over the 

world including Pakistan in early 2011. 

2) This issue was strongly taken up 

with relevant Turkish authorities and 

in the JOINT BUSINESS 

COUNCIL meeting held at Karachi 

in October 2011, presided by 

Chairmen from Pakistan and Turkey 

Business Councils with more than 50 

members from both sides, the matter 

was discussed and some leading 

textile importers from Turkey pointed 

out that bilateral trade (which was 

US$1.2 billion) will sharply fall as 

textile raw material from Pakistan is 

used for value addition in Turkey. 

Representations were made to 

Pakistan – Turkey economic and trade relations 

By Amjad Rafi, 

Chairman Pakistan – Turkey Business Council 

relevant authorities jointly but without 

result. As expected, the figures went 

down to $750 million in the very first 

year (2012). 

3) Inspite of very cordial relations 

between the two sides, no 

Preferential Trading Agreement 

(PTA) exists between the two 

countries despite many meetings/ 

negotiations since 2011. This is an era 

of regional trade and FTA’s and 

PTA’s which bring WIN WIN 

situation to concerned countries but 

unfortunately no such agreement 

exists even in ECO Region of which 

both countries are members. 

4) Yet another impediment is that 

there is no road or train transportation 

between the two countries which 

effects early arrival of goods in 

Pakistan or Turkey. Presently the only 

means of transportation is shipping 

which takes 25-30 days between 

Karachi and main Turkish ports. 

5) Unfortunately the Islamabad – 

Tehran-Istanbul (ITI) freight train 

which made test runs in 2010 reaching 

in 14 days has not taken off mainly 

due to operational problems (lack of 

locomotives etc) from Pakistan side. 

The bright side is that now Pakistan 

Railways has successfully restarted 

its freight trains within the country and 

new locomotives are being inducted 

in the system, the Government of 

Pakistan should immediately take 

measures to start this important route. 

During the meeting of ISTANBUL 

FORUM in February 2014 in Ankara, 

the chambers of three countries 

proposed that the ITI train link be 

extended by road from Islamabad to 

Afghanistan. 

This was well taken at the high level 

meeting of the Prime Minister of 

Pakistan, Presidents of Afghanistan 

and Turkey and was part of the 

Declaration issued after the meeting. 

It is pertinent to point out that the freight 

rates should be competitive and 

schedules be strictly adhered, to get 

confidence of the business community. 

The bilateral trade with Turkey and Iran 

together is approximately $1.6 billion 

which railways can target. 

6) There is no road transportation 

between the two countries although 

Iran and Turkey have excellent road 

network. Pakistan – Turkey Business 

Council realizing the fact made 

efforts through ECO Chamber of 

Commerce to facilitate opening of 

road transportation through trucks 

and trailers etc. Pakistan is the only 

country in ECO Region which has not 

ratified the TIR Convention for 

facilitation of road trade traffic inspite 

of assurances given. In the previous 

meeting of ECO Chamber of 

Commerce in Karachi, the other 

member countries took note of the 

situation and requested Pakistani 

business community i.e. FPCCI to 

take up this matter on top priority with 

GOP in order to expedite road 

transportation. In this connection, a 

trial run by trucks was carried out 

which took about 10/11 days from 

Karachi to Istanbul. 

7) As the European Union has 

allowed GSP Plus status to Pakistan 

after fulfilling all conditions, the 

TURKISH COVERNMENT should 

also grant the same Status to 

Pakistani goods which are exported 

there, as Turkey is member of 

European Customs Union for the last 



many years. These measures will 

boost confidence and enhance the 

Bilateral Trade at a fast pace. 

These are the Major Impediments 

which exist for many years and relate 

to respective governments who 

should facilitate the private sector by 

resolving these issues as expeditiously 

as possible. 

BRIEF IMMEDIATE 

MEASURES FOR EXPANSION 

OF BILATERAL TRADE 

A) Government of Turkey should 

reconsider its decision and exempt 

Pakistan from Countervailing Duty on 

Textiles Raw Materials and also 

allow Pakistan the GSP PLUS status 

as they are Members of EU Customs 

Union since 1996. 

B) Government of Turkey & Pakistan 

should find ways and means to come 

NBP wins FPCCI 

achievement award for 

third consecutive year 

National Bank of Pakistan (NBP) has 

won FPCCI 3rd Achievement Award 

for third consecutive year for its 

efficient banking in various traits. 

to an agreement for earliest 

Conclusion of PTA for which 

Discussions/Negotiations are taking 

place since 2011 without success. For 

FTA (Free Trade Agreement), GOP 

may start Negotiations with 

EUROPEAN UNION in order to 

conclude this Agreement with Turkey. 

C) Also efforts are made for early 

conclusion of ECO Trade Agreement 

(ECOTA ) which covers ten countries 

including Turkey for reduced import 

tariff. Only ratification from one Eco 

member state is required for the 

implementation/negotiations of 

ECOTA. 

D) Government of Pakistan may 

facilitate Islamabad – Tehran – 

Istanbul (ITI) railway route at the 

earliest and ensure tight schedules to 

gain confidence of Private Sector. 

E) Earlier accession be given by the 

government to the TIR Convention 

for ECO region in order to have 

speedy and competitive road 

transportation by trucks and trailers. 

Turkey stands 6 th as economic power 

of Europe, Literally producing 

everything from raw material to 

intermediaries to finished high tech 

products. With reduced rate of duties 

(under PTA), there is a large scope 

of Turkish products to enter Pakistani 

market which will lead to more joint 

ventures between the two sides. The 

bilateral trade figures can go beyond 

$2.5 billion if the respective 

governments remove hurdles. 

There are a number of top class Turkish 

construction companies operating in 

Pakistan building highways, dams, 

infrastructure of ports etc besides 

handling defence related projects and 

the Wind Energy Projects. 

(Courtesy: “DAWN News”) 

The NBP has been awarded gold 

medal for its banking, leasing,financial 

services and capital markets. 

President NBP Syed Iqbal Ashraf 

received this award from President 

Mamnoon Hussain, who was the 

chief guest at FPCCI Awards 

ceremony recently. 

Federation of Pakistan Chambers of 

Commerce and Industry (FPCCI) 

has introduced these achievements 

awards to acknowledge the 

meritorious performance and 

services of the companies and 

National Bank of Pakistan has won FPCCI 3rd Achievement Award for the third 

consecutive year. The NBP has been awarded gold medal for its “Banking, 

leasing, financial services & capital markets” by The Federation of Pakistan 

Chambers of Commerce and Industry (FPCCI) during the 3rd Achievements 

Awards ceremony at local hotel in Karachi. Honorable President of Islamic 

Republic of Pakistan, Mr. Mamnoon Hussain gave this award to Syed Iqbal 

Ashraf, President National Bank of Pakistan. 

individuals of throughout the country. 

This award is a top slot award and is 

given on the basis of bank’s financial 

services for the economy and the 

NBP has won this laurel for 

consecutively third year. 



A function in the memory of 

Shaheed-i-Millat Liaquat Ali Khan 

and Shaheed-i-Pakistan Hakim 

Mohammed Said, comprised 

recitation of verses from Holy Qura’n, 

na’at, speeches, poetic homage, 

analogy (From dream to realization), 

drama (Depicting life and services of 

Hakim Said) and dua-i-Said, was held 

at a local hotel, in which speakers 

paid rich tribute to Liaquat Ali Khan 

and Hakim Mohammed Said for 

their sacrifices and services to the 

nation. 

Speaking on the occasion, chief guest 

and former Commissioner of Karachi, 

and Ex-Registrar, Sindh High Court, 

Shafique Piracha said that the dual 

systems of education prevailing in the 

country, one for elite and the other 

for non-elite and under-privileged 

classes, were causing further division 

in the nation whereas Pakistan was 

made to minimize gap between the 

rich and the poor as Liaquat Ali Khan, 

when he was the finance minister in 

the interim government of India 

before partition, tabled his famous 

‘poor man budget’ first time in the 

history of India. When Taj Mahal 

was being built in India by emperor 

Shah Jehan, at the same time Oxford 

University was being built in England, 

he said adding: ‘Progress and 

greatness are achieved by setting up 

the educational institutions and not 

constructing the buildings.’ 

Sir Syed Ahmed Khan founded 

Aligarh College which afterwards 

became Aligarh Muslim University 

from where Quaid-i-Azam took the 

inspiration and Liaquat Ali Khan got 

education. Hakim Said even built a 

city of education, science and culture 

– Madinat al-Hikmah, where schools, 

Rich tribute paid to Liaquat Ali Khan 

and Hakim Said 

Chief guest and former Commissioner of Karachi, and Ex-Registrar, Sindh High 

Court, Shafique Pirach, Mrs. Sadia Rashid, President, Hamdard Foundation 

Pakistan and Naunehal Speakers addressing the Hamdard Naunehal Assembly 

in the memory of Shaheed-i-Millat Liaquat Ali Khan and Shaheed-i-Pakistan 

Hakim Mohammed Said, comprising recitation of verses from Holy Qura’n, na’at, 

speeches, poetic homage, analogy (From dream to realization), drama (Depicting 

life and services of Hakim Said) and dua-i-Said held at a local hotel, Karachi. 

colleges and Hamdard University 

were running, for the promotion of 

education and modern knowledge in 

the country, he said, adding: ‘It is quite 

amazing how a single man, Hakim 

Said touched to the every aspects of 

life as he was a physician, a herbalist, 

a writer, traveler and reformer, who 

loved the children, patients and 

suffering humanity, he added. He said 

there was a common factor between 

the personalities of Liaquat Ali Khan 

and Hakim Mohammed Said that both 

lived for the nation and died for it. 

Commending the speeches, made by 

the child speakers, he said until the 

young and talented speakers like 

Noor Bibi would continue to attend 

the Naunehal Assembly and 

depressed patients would continue to 

go to hospitals Hakim Said would be 

present in this assembly and hospitals 

to encourage and help them as those 

people who gave value to life would 

never die. Hakim Said doesn’t need 

us we need Hakim Said. It is, 

therefore, pertinent that a very big 

session in his memory should be held 

to recall his services and 

achievements, he concluded. 

Mrs. Sadia Rashid, President, Hamdard 

Foundation Pakistan, while addressing 

the gathering of children said that the 

month of October has brought in the 

memories of two great Pakistanis, 

Liaquat Ali Khan and Hakim Said as 

in this month we were deprived of one 

of great national leaders and the other 

a social reformer, who spent his entire 

life in service to the nation and always 

spoke truth even in peril of his life for 

the sake of his homeland. 

Hakim Said loved the children very 

much and made their education and 

training a mission of his life. He didn’t 

forget the village children and 

established Hamdard Village School 

for their free education at Madinat al- 

Hikmah, she said and added that 

Hakim Said had left many great 

examples and paradigms, if followed 

we could touch the heights of progress 

and developments. Child speakers, 

Hafiza Urooba Fatima, Ubaidur 

Rehman, Noor Bibi, Umaima Iqbal, 

Nabiha Qamar, Hira Bano, Aqsa Zeb 

and Aena Asim also spoke. Maryam 

Akbar compered the function, in which 

teachers, students, parents and 

children participated in a large number. 



54th annual general meeting 

Collective efforts, truthfulness needed for resolving 

business community issues: Siraj Teli 

Chairman Businessmen Group 

(BMG) and Former President of the 

Karachi Chamber of Commerce and 

Industry (KCCI), Siraj Kassam Teli, 

while underscoring the need to make 

collective efforts, advised the newly 

elected KCCI office bearers to work 

dedicatedly and exhibit truthfulness 

throughout their tenure in order to 

resolve issues being faced by the 

business and industrial community of 

Karachi. 

Chairman Businessmen Group & Former President of the Karachi Chamber of 

Commerce & Industry Siraj Kassam Teli speaks at 54th Annual General Meeting 

held at Majeed Bawany Auditorium recently. 

Speaking at the 54th Annual General 

Meeting of the Karachi Chamber of 

Commerce & Industry, BMG 

Chairman urged all BM giants to work 

really hard for the betterment of the 

country, Karachi city and the business 

& industrial community. “Collective 

vision and collective efforts are 

needed to resolve issues. If we work 

dedicatedly and remain truthful, we 

will surely succeed in resolving all 

issues being faced by small traders, 

businessmen and industrialists of 

Karachi”, he added. 

Congratulating the newly elected 

President Younus Muhammad Bashir, 

Siraj Teli said, “We expect a lot from 

the newly elected President and I am 

fairly optimistic that Karachiites and 

the Karachi Chamber would surely 

benefit from the vast experience of 

Younus Bashir who has been 

associated with the Chamber and 

SITE Association of Industry for a 

long time.” 

Speaking on the occasion, the newly 

elected President KCCI Younus 

Muhammad Bashir said that it was a 

matter of grave concern that the 

federal government was not paying 

any attention to Karachi Chamber 

which represents majority of the 

business and industrial community and 

was the largest chamber of the 

country. “During my tenure as 

President, it will be one of my top most 

priority to deal with this pressing issue 

so that the federal government could 

start paying heed to KCCI’s 

recommendations and demands”, he 

added. 

He pointed out that law and order 

situation has improved during the past 

two years but a lot more needs to be 

done while the business community 

must also be taken on board in order 

to ensure long lasting peace and 

stability in Karachi which is capable 

enough to make Pakistan ‘the Asian 

Tiger’. 

He said that although the government 

grants numerous incentives to foreign 

investors who want to set up their units 

in Pakistan but unfortunately, the 

existing local businessmen and 

industrialists, who have been running 

their businesses for the past many 

decades in Karachi, were largely 

being ignored and they continue to 

face hardships due to the dilapidated 

infrastructure, gas, electricity and 

water shortages. 

Younus Bashir assured to work 

enthusiastically for the rights of entire 

business and industrial community of 

Karachi, particularly for resolving 

issues being faced by small traders 

of the city. 

The outgoing President KCCI, 

Iftikhar Ahmed Vohra, while 

highlighting some of the important 

happenings during his tenure as 

President, appreciated the support 

and cooperation extended by BMG 

leadership, his colleague office 

bearers, Managing Committee 

members and KCCI Secretariat in 

dealing with numerous issues. 

Earlier, Secretary General KCCI, S. 

M. H. Rizvi announced the election 

results of members of the Managing 

Committee as well as office bearers. 

The nominees of Businessmen Group 

namely Younus Muhammad Bashir, 

Zia Ahmed Khan, Muhammad 

Naeem Sharif were declared elected 

unopposed as President, Senior Vice 

President and Vice President 

respectively. 



The 13th International Exhibition of 

Plastics, Printing, Packaging and 12th 

International Food and Beverage 

Processing received tremendous 

response from trade and industry, 

when it was inaugurated at Karachi, 

Expo Centre recently. It was 

organized by Pegasus Consultancy 

(Pvt) Ltd. with the support of Flexible 

Packaging Association of Converters 

of Pakistan, Printing & Printing 

Equipment Industries Association of 

China, CMEC International Exhibition 

Co. Ltd., Board of Investment 

Government of Pakistan and Pakistan 

Council of Scientific & Industrial 

Research. 

More than hundred companies from 

twenty five countries have 

participated in the B2B event. 

According to the organisers, more 

than 12,000 foreign Buyers from15 

countries visited fair showing an 

increase of 30% over last year. 

The exhibition’s unique feature was 

the joint ribbon cutting ceremony 

performed by Iranian Commercial 

Attaché, Murad Nemati, Secretary 

General, Iran National Plastic and 

Polymer Association Shoaib Hasni, 

Director General, SAARC 

Department of Plant Protection, 

Government of Pakistan, Dr. 

Mubarak Ahmad and Chairman 

Flexible Packaging & Converter 

Association, Ali Morani. 

“We see lots of potential of these 

kinds of B2B, (Business to Business) 

exhibitions in the country,” 

Commercial Attaché Nemati, 

remarked while talking to media. 

“The industries concerned, 

13th Int’l Exhibition of Plastics, 

Printing and Packaging wraps successfully 

Aamer Khanzada, MD of 

Pegasus Consultancy. 

international and local participation 

indicates the seriousness of the 

business community here,” he further 

added. 

He said that he was thankful to the 

organizers for declaring Iran as a 

focus country in this event. 

“The exhibition is building a great 

image of Pakistan and the presence 

of huge foreign participation is the 

indicator of the upcoming foreign 

investment in the country,” Aamer 

Khanzada, Managing Director, 

Pegasus Consultancy said on the 

occasion. “We are building an 

impression of investor-friendly 

environment,” he added. 

Trade Chronicle - September - October 2015 - Page # 11 

Carrying forward the momentum of 

nine successful editions, the 10th 

Plasti and Pack 2015 was showcasing 

the latest product range from plastics 

processing, printing and packaging, 

including injection molding, slitting and 

winding, shrink, stretch wrapping, 

solvent less laminators, industrial 

compressors, mono and multi-layer 

blown film lines and petrochemicals. 

While the 9th International Food, 

Beverage Processing & Packaging 

Industry Trade Fair Pakistan 2015 has 

also enthralled the buyers and visitors 

from a power pack display of 

Germany’s superlative filling and 

bottling technology along with a 

special display of the latest labeling 

solutions for food and pharmaceutical 

industries. 

Along with these, food and beverage 

processing lines, bakery and 

confectionery equipment, milk and 

value-added product processing, meat 

processing, material handling 

equipment, inspection and detection 

instruments and slaughterhouse 

equipments were also on the display 

list of IFTECH 2015.


Plastic/food packaging: experts elaborate modern 

technological solutions 

Foreign and local experts discussed 

and presented most modern 

technological solutions in plastic and 

food packaging at the Annual 

Packaging Forum 2015 held at the 

Auditorium of Karachi Expo Centre. 

On the second day of PLASTI & 

PACK, IFTECH- Pakistan 2015, the 

foreign experts have narrated the 

salient features of latest trends in 

flexible packaging, high efficiency 

solutions in gravure printing and 

laminating of flexible packaging, 

healthy packaging for consumers, etc. 

The exhibitors have seen lots of 

potential for their machinery and 

technology in the fast growing 

processing and packaging market of 

Pakistan, saying that they are having 

good business at the 

PLASTI&PACK, IFTECH- 

Pakistan 2015. "Pakistan has 

productive market for food 

processing machinery, but there is a 

need to create awareness among 

buyers about the benefits of valueaddition, 

"said an international 

exhibitor. "We see a lot of potential 

for our products in the coming years," 

he remarked. 

On the second day of the exhibition 

there was a professional B2B activity 

at the Annual Packaging Forum, with 

the theme, "Flexible Packaging 

Innovations & Developments", in 

which international and local speakers 

from United Kingdom, Pakistan, and 

UAE presented their papers and 

highlighted the latest dairy, meat and 

other packaging industry trends and 

practices. 

They particularly discussed the topics 

on Nano Technology in Plastic 

Packaging industries, latest trends in 

Flexible Packaging, Innovations in 

vacuum coating/metalizing 

technology in food packaging, High 

efficiency solutions in gravure printing 

and laminating of flexible packaging, 

Extended shelf life packaging solution 

for meat & dairy industry and valueadditions 

in Dairy Packaging. 

Industry visitors from various cities 

of Pakistan including Faisalabad, 

Karachi, Lahore, Kasur, Gujranwala, 

A view of stall. 

A view of stall. 

Sheikhupura, Gujrat have visited and 

appreciated the exhibition, while a 

larger numbers of visitors are 

expected to visit on the third day of 

the show. The exhibition has attracted 

more than 100 local and international 

companies from around 25 countries, 

which include: Austria, Belgium, 

China, Denmark, France, Germany, 

Hong Kong, Iran, Italy, Malaysia, 

Netherlands, Spain, Sweden, 

Switzerland, Taiwan, Turkey, UAE, 

UK and USA. 



Plasti&Pack, IFTECH 2015 fetches $100 million deals 

The 13 th International Exhibition of 

Plastics, Printing, Packaging and 12 th 

International edition of Food & 

Beverage Processing have fetched 

over $100 million orders in the three 

day deals and bookings. The twin 

expos of technology and machineries 

at Karachi Expo Centre received 

tremendous response from trade and 

industry visitors on the penultimate 

day. 

Biggest response was received by 

the China and Iranian exhibitors as 

they received trade visitors in a big 

way and signed many contracts of 

machinery supply to the local 

entrepreneurs. Machinery at most of 

the stalls showing tag “sold out” with 

stalls holders brimming with joy after 

three most hectic days. A number of 

exhibitors completely satisfied with 

the outcome of the three days 

extravaganza said that this show was 

a fruit of the law enforcing agencies 

months long efforts to restore peace 

and maintain law and order in the 

commercial and industrial hub of the 

country where business community 

has taken a sigh of relief after a long 

spell of fear and terror. Exhibitors and 

organizers hoped that if the peaceful 

conditions remained maintained, the 

industrial and commercial hustle 

bustle will surely return to Karachi. 

Trade visitors obtaining details at foreign stall. 

A foreign seller explaining details of products. 

More than hundred companies from 

25 countries have participated in the 

B2B event. The Turkish Consul 

General in Karachi, Murat Mustafa 

Onart also visited the venue on last 

day and extremely impressed with 

the great response of the visitors. 

Iranian Consul General Murad 

Subhani too visited Irani pavilion and 

impressed with the exhibitors’ and 

organizers efforts. 

The local and foreign visitors 

participated with latest technology, 

showcasing the latest product range 

from plastics processing, printing and 

packaging, including injection molding, 

slitting and winding, shrink, stretch 

wrapping, solvent less laminators, 

Industrial compressors, mono and 

multi-layer blown film lines and 

petrochemicals. While world’s 

leading Italian technology supplier of 

injection and compression molding is 

also a major attraction of the event. 

Along with these, food and beverage 

processing lines, bakery and 

confectionery equipment, milk and 

value added product processing, meat 

processing, material handling 

equipment, inspection and detection 

instruments and slaughterhouse 

equipments were also on display list 

of IFTECH 2015. 



CFA Pakistan awards Arif Habib Limited “Corporate Finance House of the Year" 

and "Best Research Analyst of the Year – 2nd Runner-up" for the year 2014 

Arif Habib Limited (AHL) was 

recognized as the winner of 

“Corporate Finance House – 

Equity & Advisory (Security 

Firms)” and recipient of “Best 

Research Analyst of the Year 

2014 – 2nd Runner-up” at the 

12th Annual Excellence Awards 

Ceremony hosted by the CFA 

Society Pakistan. 

Shahid Ali Habib, CEO, AHL was 

on hand to receive the award and 

said “We are delighted and 

honored to win this award and 

would like to thank CFA Society 

of Pakistan and the panel of 

judges who have acknowledged 

Mr. Shahid Ali Habib, CEO, Arif Habib Limited, 

receiving the Best Corporate Finance House 

Award – Equity & Advisory (Security Firms) from 

Mr. Muhammad Zubair. Minister of State for 

Privatization / Chairman, Privatization 

Commission at the 12th Annual Excellence Awards 

Ceremony hosted by the CFA Society Pakistan. 

the advisory services of Arif 

Habib Limited. We would also like 

to congratulate and thank our 

Corporate Finance and Research 

teams for making this possible”. 

2014 has been a tremendous year 

for AHL. During the period under 

review, the Company closed eight 

equity and advisory transactions 

raising over PKR 60bn. 

The strides being made by AHL in 

providing its clientele with in-depth, 

timely and meticulous research 

were the grounds for our analyst 

Tahir Abbas receiving the “Best 

Research Analyst of the Year 2014 

– 2nd Runner-up” Award. 



People & Events 

Justice Anwar Zaheer 

takes oath as new CJ 

President Mamnoon Hussain has 

administered oath of office to Justice 

Anwar Zaheer Jamali as the new 

Chief Justice of Pakistan. The 

impressive ceremony at the President 

House was attended by Prime 

Minister Nawaz Sharif. 

President Mamnoon administered 

oath of office in Urdu, in pursuance 

of the orders of the Supreme Court 

of Pakistan for its adoption as the 

official language. The proceedings of 

the event were also carried out in 

Urdu. The event was attended by 

Governors of Punjab and Gilgit 

Baltistan, Prime Minister of Azad 

President Mamnoon Hussain administering the oath of office to Justice Anwar 

Zaheer Jamali as Chief Justice of Pakistan. Prime Minister Nawaz Sharif also 

present. 

Jammu and Kashmir, federal 

ministers, chief ministers, 

parliamentarians, judges of the 

Supreme Court, former Chief 

Justices, services chiefs, diplomats 

and senior officers. 

Younus M Bashir elected 

president of KCCI 

Younus M. Bashir, Zia Ahmed Khan 

and Muhammad Naeem have been 

elected unopposed as President, 

Senior Vice President and Vice 

President of Karachi Chamber of 

Commerce and Industry for the year 

2015-16 respectively. Younus M. 

Bashir has become 23rd President of 

Karachi Chamber. 

The Managing Committee of KCCI, 

in its meeting held on 19th September, 

2015, unanimously elected Office 

Bearers for year 2015-16. 

The newly elected office bearers of 

KCCI have expressed their 

willingness to dedicatedly discharge 

their services up to the expectations 

of KCCI members and the entire 

business community of Karachi city. 

Group photo shows Newly Elected Office Bearers of Karachi Chamber of 

Commerce and Industry for the year 2015-16. Younus M. Bashir KCCI (Centre), 

Zia Ahmed Khan Senior Vice President KCCI (Left) and Muhammad Naeem Vice 

President (Right). 

They assured that no stone will be 

left unturned to achieve various 

objectives of the premier Chamber. 

All the fifteen nominated candidates 

of managing committee of the 

chamber have already been elected 

unopposed as member of managing 

committee of the KCCI for the year 

2015-16. The successful candidates 

of the managing committee include 

names of Younus Muhammad Bashir, 

Imran Aftab, Zia Ahmed Khan, Altaf 

A. Ghaffar, Shoaib Ahmed Faridi, 

Arif Quettawala, Muhammad Haris 

Agar, Muhammad Ali Aziz, Mujeeb 

ur Rehman Shamsi, Anis Bhesania, 

Tabassum Khurshid, Ansar Ali Khan, 

Amjad M. Ashraf, Kamal Aftab and 

Atif Jamil ur Rehman. 



(L to R) Lt Gen Asim Saleem Bajwa, Lt Gen Sadiq Ali, Lt Gen Umer Durrani and Lt Gen Aamer Riaz. 

Four major generals 

promoted 

Pak Army recently announced 

promotion of four major generals, 

including chief of the Inter-Services 

Public Relations (ISPR), to the rank 

of lieutenant general. 

Those promoted are (Director 

General ISPR) Maj Gen Asim 

Saleem Bajwa, (GOC 35 Div – 

Bhawalpur) Maj Gen Sadiq Ali, (Vice 

Chief of General Staff) Maj Gen 

Umer Durrani and (Director General 

Military Operations) Maj Gen Aamer 

Riaz, a statement by ISPR said. 

The four generals have been 

promoted in place of the lieutenant 

Ch Shafique elected 

chairman Rice Exporters 

Association of Pakistan 

Ch. Muhammad Shafique has been 

elected un-opposed as chairman 

Rice Exporters Association of 

Pakistan (Reap) for the year 2015- 

2016. 

In addition, Noman Ahmed Sheikh 

from Karachi has been elected 

Senior Vice Chairman (SVP), Abdul 

Rehman Shah from Quetta Vice 

Chairman (VC) and Ali Hussam 

Asghar from Lahore as Treasurer 

Reap. 

generals, whose retirement is coming 

up – Lt Gen Nasir Janjua 

(Commander Southern Command), 

Lt Gen Navid Zaman (Corps 

Commander Lahore), Lt Gen Tariq 

Gilani (Chief of Logistic Staff) and 

Lt Gen Ijaz Chaudhry (Inspector 

General Arms). 

Pak Army also announced the postings 

of the newly promoted generals, 

besides reshuffling a few other 

positions. The DG ISPR will retain his 

position. Lt Gen Bajwa would be the 

first three star general to head the 

military’s public affairs wing. 

Gen Amir Riaz has been appointed 

as the new commander of the 

Quetta-based Southern Command, 

Gen Sadiq Ali as Corps Commander 

PSMA elects Chairman 

Sheikh Muhammad Ilyas, Zafar 

Mahood and Khawaja Salim Ahmed 

have been elected as Chairman, 

Senior Vice Chairman and Vice 

Chairman of Pakistan Soap 

Manufactures Association (PSMA) 

for the year 2015-16, respectively. 

New MCCI president 

Mian Fareed A Sheikh was elected 

president of Multan Chamber of 

Commerce and Industry (MCCI) 

unopposed, for 2015-16. Mian Ata 

Shafi and Muhammad Tariq Khan got 

elected as senior vice president and 

vice president respectively. 

Lahore, and Gen Umar Farooq 

Durrani as Corps Commander 

Mangla. 

Others whose postings have been 

changed include Inspector General 

Training and Evaluation Lt Gen 

Ikramul Haq, who has been posted 

as Corps Commander Gujranwala; 

Corps Commander Mangla Lt Gen 

Hilal Hussain as Commander Army 

Strategic Force Command; Director 

General Personnel Services at the 

Adjutant General’s Branch Lt Gen 

Malik Zafar Iqbal as Corps 

Commander Rawalpindi; Corps 

Commander Gujranwala Lt Gen 

Ghayoor as Chief of Logistic Staff; 

and Commander Army Strategic 

Force Command Lt Gen Obaid as 

Inspector General Arms. 

Cowasjee elected 

PSAA Chief 

Ava A Cowasjee was elected as a 

chairperson of Pakistan Ships 

Agents Association (PSAA) for 

FY2015-16. Tariq Haleem and 

Younus Vayani were elected as 

senior vice chairman and vice 

chairman of the body during the 

annual election held recently. The 

executive committee members of 

PSAA elected included Captain 

Javed Iqbal, Captain Nusrat Iqbal, 

Captain Muhammad Inam, Bilal-ur- 

Rehman, Kareem Ispahani, Khalid 

Wasim Khokhar and Jawed Iqbal. 



PVMA elects new set of 

office-bearers 

Khawaja Arif Qasim, a Lahorebased 

leading industrialist, has been 

elected un-opposed as Chairman 

Pakistan Vanaspati Manufacturers' 

Association (PVMA) recently for the 

year 2015-16. Likewise, Atta Ur 

Rehman and Wazir Ali Pardhan 

elected for the slot of Sr Vice and 

Vice Chairman respectively. 

It is worthwhile to note that PVMA 

leads the edible oil sector of Pakistan, 

whose annual imports of 2.3 million 

tons exceeds a bill of $1.8 billion per 

annum. 

Likewise, the manufacturing sector 

consumes the edible oil extracted 

from local and imported oil seeds 

to the tune of $1.3 billion. Hence, 

cumulatively the sector's annual 

turnover hovers around Rs 600 

billion per year. The sector, directly 

and indirectly, contributes over Rs 

100 billion to the national exchequer 

as well in the shape of duty/taxes 

and other levies. 

Dr Khurram elected 

chairman PHMA 

Dr Khurram Tariq was elected 

unopposed Central Chairman of 

Pakistan Hosiery Manufacturers & 

Exporters Association (PHMA).He 

has been elected second time as 

central chairman of this 

Association. 

Tariq Saud assumes 

office of Chairman 

APTMA 

Businessman Consul General for 

Romania in Karachi, Chief 

Executive of Nazaria-e-Pakistan 

Trust Karachi Tariq Saud will 

assume the office of central 

Chairman of the All Pakistan 

Textile Mills Association. Already, 

he has served as the central Vice 

Chairman as well as the Chairman 

Sindh-Balochistan zone of the 

association. He is a director of the 

Anwar Textile Mills Ltd, United 

Sugar Mills Ltd, and United Panits 

(Pvt) Ltd. He has been serving 

textile business for more than 30 

years. He has also promoted 

education of government schools 

and literacy for Sindh people for 

the last many years. 

Waheed Ahmed elected 

Chairman PFVA 

Pakistan Fruits and Vegetable 

Exporters, Importers and Merchant 

Association (PFVA) have unanimously 

elected Waheed Ahmed as new 

chairman of PFVA for 2015-2016. In 

addition, Chaudhry Shuaib Ahmed has 

been elected Senior Vice Chairman and 

Saeed Khan as Vice Chairman PFVA. 

LATI elects office-bearers 

Zain Bashir, Mohsin Safder and Ather 

Ali Khan Durrani have been elected 

unopposed as President, Senior Vice 

President and Vice President of 

Landhi Association of Trade and 

Industry (LATI) for the term of 2015- 

16. Others have been elected as 

members of Executive Committee 

include Hussain Kuli Khan, Ajmal 

Afzal, Rehan Rehman, Shoaib 

Majeed, Hasan Javed, Muslehuddin 

Rezvi, Shoaib ur Rehman, Riaz 

Ahmed, Samir Chinoy, Alireza M 

Alladin and Nissar Palla. 

Dr Khurram said that Knitwear 

Export Industry is the largest 

employment providing sector of the 

economy. He urged upon the 

government to immediately announce 

the long overdue textile package for 

the revival and growth of the textile 

industry. 

Newly-elected LCCI President Sheikh Arshad, Senior Vice President Almas 

Hyder and Vice President Nasir Saeed snapped with the SAARC chamber Vice 

President Iftikhar Ali Malik, PIAF President Tahir Javed Malik, Khawaja Shazeb 

and others after winning LCCI polls. 



New German envoy calls on Dar 

Nasser Khan Janjua 

Janjua appointed NSA 

The government has notified recently 

the appointment of retired Lt Gen 

Nasser Khan Janjua as the new 

National Security Adviser (NSA). He 

has been appointed “with immediate 

effect, with the status of minister of 

state,” said a notification issued by 

the Cabinet Division, ending media 

speculations about the appointment. 

The newly appointed ambassador 

of Germany to Pakistan, Ms Ina 

Lepel met Finance Minister 

Mohammad Ishaq Dar recently. 

She was accompanied by First 

Secretary Almut Knop on the 

occasion. The minister shared 

with the German envoy 

Pakistan’s efforts for 

rehabilitation of TDPs. He said 

that support from donors and 

development partners for 

rehabilitation was highly 

welcomed. 

Fauji Fertilizer wins awards 

Absar Aalam made 

Pemra chairman 

Absar Aalam, senior journalist and the 

host of Aaj TV's popular current 

affairs show, Bottom Line with Absar 

Aalam, has been appointed Chairman 

Pakistan Electronic Media Regulatory 

Authority (Pemra), Aaj News 

reported. The appointment of Absar 

as head of Pemra was notified. A 

widely -travelled Aalam is considered 

a highly respectable name in 

Pakistan's media industry. 

PEORA elects new 

chairman 

Mr. Abdul Rasheed Janmuhammad 

has been elected as the Chairman of 

Pakistan Edible Oil Refiners 

Association (PEORA) for the year 

2015-2016. POERA is an association 

looking after the interest of Edible Oil 

Refineries in Pakistan. Mr. Rasheed 

Janmuhammad is a graduate in 

Commerce & Master of Law. 

Mr. M Usman Umar (Manager Finance – Financial Reporting) receiving 

the overall Best Corporate Report Award 2014. 

FFC Annual Report 2014 has 

been awarded top position in 

Corporate Reporting and 

Sustainability Awards jointly 

organised by the Institute of 

Chartered Accountants of 

Pakistan (ICAP) and Institute of 

Cost and Management Accountants 

of Pakistan (ICMAP). FFC Annual 

Report 2014 was adjudged Sector 

Best, Overall First and also First 

in Sustainability by the evaluation 

board. On the occasion, CE&MD 

FFC Lieutenant General Shafqaat 

Ahmed (Retd) congratulated the 

management of the company on 

achieving this singular honour. 

He especially acknowledged and 

appreciated the finance and 

corporate teams for their exemplary 

professionalism and diligence in 

compiling the report in accordance 

with the international reporting 

standards as required by the Code 

of Corporate Governance. 



Babar Sultan elected 

PDA chairman 

The Pakistan Dairy Association 

(PDA) has elected Babur Sultan 

of the Engro Foods Limited as its 

chairman while Jorge Montero of 

the Tetra Pak Pakistan as Senior 

Vice Chairman and Ikram Ul Haq 

of the Sharif Dairy Farms as Vice 

Chairman for the year 2015-16. An 

association spokesman releasing 

the results of the 2015 election 

recently said his association had 

also elected a seven-member 

board of directors. 

Its members included Faisal Imran 

Hussain Malik (Haleeb Foods 

Limited) Ikramul Haque (Millac 

Foods Limited) Syed Yawar Ali 

(Nestle Pakistan Limited) Anjum 

Saleem (Shakarganj Food 

Products) Abdul Khaliq Khan 

(Noon Pakistan Limited) M Sadiq 

Edhi (Pakola Products Ltd) and 

Imran Afzal (Premier Dairies Ltd). 

Siddique appointed KE 

chairman 

K-Electric's board of directors (BoD) 

has elected Waqar Hassan Siddique 

as its chairman for three years, 

effective from October 16, 2015. The 

power utility's BoD has also reappointed 

Muhammad Tayyab Tareen 

as chief executive officer (CEO) on 

the same terms and conditions as earlier 

approved by the Board. His term of 

office is also for three years, effective 

from October 16, 2015. 

Nadeem Arshad elected 

ABC President 

The American Business Council of 

Pakistan (ABC) Executive 

Committee has elected Nadeem 

Arshad Elahi Chief Executive 

Officer TRG (Pvt) Ltd, to serve as 

President, Ahmed Jamal Mir 

Managing Director & CEO 

Prestige/Grey (Pvt) Ltd has been 

elected Senior Vice President and 

Kazim Hasnain Managing Director 

Eli Lilly Pakistan (Pvt) Ltd has been 

elected as Vice President. 

"The American Business Council is 

Engineer Mumshad Ali 

Chairman of PAAPAM 

Engineer Mumshad Ali 

elected Chairman 

PAAPAM 

Engr Mumshad Ali from 

Manchester University UK has 

been elected chairman Pakistan 

Association of Automotive Parts 

& Accessories Manufacturers 

(PAAPAM) for the year 2015-16. 

a vitally important voice representing 

one of the largest investor groups in 

Pakistan and I look forward to 

working with the Executive 

Committee to ensure member 

concerns are heard and addressed." 

said Nadeem Arshad Elahi, 

President ABC. 

The other members of the Executive 

Committee include Ms Zehra Naqvi, 

Chief Executive, ACE Insurance 

Ltd; Farrokh K. Captain, Chairman 

& Managing Director, Captain-PQ 

Chemical Industries (Pvt) Ltd; 

Tauqir Ahmed, Chief Executive 

Officer, DuPont Pakistan 

Operations (Pvt) Ltd; Akram Wali 

Mohammad, Chief Executive, Gerry's 

International (Pvt) Ltd; Irshad Ali 

Shaban Ali Kassim, Chairman, Karam 

Ceramics Ltd; Kamran Nishat, 

Managing Director & CEO, Muller 

& Phipps Pakistan (Pvt) Ltd; Dr Farid 

Khan, Managing Director & CEO, 

Pfizer Pakistan Ltd; and Sami 

Ahmed, Country Manager, Procter 

& Gamble Pakistan (Pvt) Ltd. 

Mashood Ali Khan and Mehmood 

Alam Sherani were also 

unanimously elected Senior Vice 

Chairman and Vice Chairman 

respectively. Syed Mansoor Abbas, 

Saeed Iqbal Khan, Taufiq A. Sherani, 

Rehan Riaz, Munir K. Bana and 

Zeeshan Abu Sheikh were elected as 

members of the Executive Committee. 

ICAP council elects new 

office-bearers 

Hafiz Mohammad Yousaf has been 

unanimously elected as president of 

council of the Institute of Chartered 

Accountants of Pakistan (ICAP) for 

2015-16 while Nadeem Yousuf Adil 

and Hidayat Ali have been elected 

as Vice President-South and Vice 

President-North, respectively. 



PSO oil market leader in 

Pakistan 

Pakistan State Oil Company Limited, 

the oil market leader in Pakistan, held 

its 39th Annual General Meeting 

(AGM) at a local hotel in Karachi. 

The meeting was chaired by Mr. 

Sheikh Imran UlHaque, Managing 

Director and CEO of PSO. 

While summarizing the company’s 

performance in FY 2015, Mr. Sheikh 

Imran UlHaque shed light on the 

challenges faced by the Company and 

how its profitability was adversely 

affected by the sharp decline of 46% 

in the OPEC basket price of crude 

oil from USD 109 per barrel in July 2014 

to USD 59 per barrel in June 2015. 

He also said that by utilizing its wellestablished 

storage and supply 

Seen in the picture from left to right are Mr. Babar Hamid Chaudhry, General 

Manager (Corporate Planning); Mr. Aziz Hemani, General Manager (Finance); 

Mr. Yacoob Suttar, Chief Financial Officer; Mr. Sheikh Imran ul Haque, 

Managing Director and CEO of PSO; Ms. Ayesha Afzal, Company Secretary 

and Mr. Nasik Ijaz, Deputy General Manager (Legal). 

infrastructure and wide-spread retail 

network, PSO has ensured that the 

wheels of the nation’s economy 

continue to move forward. Sharing the 

way forward for the company, MD 

PSO said that PSO is striving to 

ensure ethical and transparent 

operations in all spheres of its 

business; retain market leadership in 

all key products; undertake 

diversification into alternate fuels 

like Liquefied Natural Gas (LNG) 

and integration into refining 

business through acquisition of 

additional stake in Pakistan 

Refinery Limited. 

Zahid Saeed elected Kati 

President 

Zahid Saeed, Saleem Uzzaman and 

Sayyed Wajid Hussain have been 

elected unopposed President, Senior 

Vice-President and Vice-President of 

Korangi Association of Trade and 

Industry (Kati) respectively for the 

year 2015-16. The members and 

outgoing President of the association 

Rashid Ahmed Siddiqui congratulated 

the new Kati President. Zahid Saeed 

praised the contributions and services 

of the outgoing president and his 

team. 

Farrukh elected APSA 

chief 

The All Pakistan Shipping 

Association (APSA), during its 

annual general meeting at the 

Karachi Boat Club, elected 

Abdullah Farrukh as its new 

chairman, said a Press statement. 

Sauban Bin Rais and Capt Mushtaq 

Ali Shah were also elected as senior 

vice chairman and vice chairman 

respectively, replacing Bilal Saeed 

and Farooq Tareen. 

Naeem elected LSE chief 

The Board of Directors of Lahore 

Stock Exchange (LSE) has 

unanimously elected Muhammad 

Naeem as the Chairman of the Board 

of Lahore Stock Exchange (LSE). 

Muhammad Naeem is a Chartered 

Accountant by profession and is also 

a Director on the Board of National 

Bank of Pakistan. It may be 

mentioned that LSE was in the 

process of integration with the other 

Exchanges to form "Pakistan Stock 

Exchange". 

Fayeeza becomes Chairman: 

Aman Foundation 

The CEO and Trustees of 

Pakistan's largest private 

foundation, the Aman Foundation, 

appointed Fayeeza Naqvi as 

Chairman of Aman's Board of 

Trustees. Fayeeza Naqvi, who 

recently received the BNP Paribas 

Grand Prix award for Individual 

Philanthropy, thanked Aman's 

stakeholders present in the event 

which included corporate partners, 

government officials and donors of 

Aman Foundation for their 

unwavering support. 



Leather Industry 

Gulzar becomes new chairman of PTA 

Mr. Gulzar Firoz, Chief Executive of 

M/s. Firoz International, Karachi and 

Chairman, FPCCI’s Standing 

Committee on Environment as well 

as the recipient of the Civil Award 

“TAMGHA-I-IMTIAZ” conferred 

by the President of Pakistan and Eco 

Green Industry Award conferred 

during Ministerial Meeting held in 

Istanbul, has been elected as Central 

Chairman, Pakistan Tanners 

Association unopposed for the 

seventh time while Mr. Tanveer 

Aslam Chawla of M/s. Chawla 

Tanneries, Kasur elected as Senior 

Vice Chairman and Mr. Rehan 

Shaikh Hannan of M/s. Khas (Pvt) 

Ltd., Karachi elected as Vice Chairman 

of the Central Executive Committee, 

PTA for the year 2015-16. 

The members of the Central 

Mr. Gulzar Firoz, Chairman 

of PTA Central. 

Executive Committee of Pakistan 

Tanners Association (PTA) 

elected for the year 2015-16 are 

as follows: 

Mr. Amanullah Aftab M/s. Hafiz 

Tannery, Karachi., Mr. Azam Malik 

M/s. Leathertex Gloving (Pvt) Ltd., 

Lahore., Mr. Badre Alam M/s. Badre 

Alam Traders, Lahore., Mr. Danish 

Naseem M/s. MIMA Leather (Pvt) 

Ltd., Karachi., Mr. Faraz Haleem 

M/s. Muhammad Shafi Tanneries 

(Pvt) Ltd, KHI., Mr. Fazal-ur- 

Rehman Sheikh M/s. Rehman 

Brothers & Co., Kasur., Mr. Hamid 

Arshad Zahur M/s. Noor Leather 

Garments (Pvt) Ltd., Karachi., Mr. 

Muhammad Musaddiq M/s. Siddiq 

Leather Works (Pvt) Ltd., Lahore., 

Mr. Nasir Anwer M/s. Elegant (Pvt) 

Ltd., Lahore., Mr. Shafique Ahmed 

M/s. Shafique Leather Enterprises, 

Karachi., Mr. Usman Umer M/s. S. 

Mohamed Saeed Goreja & Co., 

Karachi., Kh. Muhammad Mehr Ali 

M/s. Khawaja Tanneries (Pvt) Ltd., 

Multan., Ch. Ahmed Zulfiqar Hayat. 

M/s. Leather Town, Sialkot. 

Great potential for leather export to Vietnam 

In a recent meeting between 

representatives of PTA led by Mr. 

Gulzar Firoz, Chairman during the visit 

of the Head of Vietnam Trade 

Mission in Karachi, Mr. Vu Viet 

Dzung alognwith Mr. Ghazanfar Ali 

Khan, Chairman, Pak-Vietnam 

Business Council, Karachi at PTA’s 

Central Office, Karachi, the Head of 

Vietnam Trade Mission in Karachi, 

Mr. Vu Viet Dzung, said that Vietnam 

footwear industry is growing and the 

export of footwear alone from 

Vietnam is around US $9 billion as 

such Pakistan can have a big share. 

Pakistan present export of leather to 

Vietnam is around US$ 25 million 

which is hardly 1% of the total leather 

export of Vietnam. 

Mr. Gulzar Firoz, Chairman, PTA presenting Crest to the Chief Guest, Mr. Vu Viet 

Dzung, Head of Vietnam Trade Mission, Karachi 

Mr. Gulzar Firoz proposed to take a 

delegation of PTA to Vietnam in near 

future and requested Mr. Vu Viet 

Dzung for his support in the organizing 

delegation visit to Vietnam. 

Mr. Gulzar Firoz informed the 

Vietnam Head Mr. Vu Viet Dzung 

about holding of Pakistan Mega 

Leather Show 2016 which is going to 

be held on 27-28 January 2016 and 

invite Vietnamese Shoe and Leather 

industry to participate in this Mega 

Leather Show. 



Ahmed Zulfiqar Hayat elected as chairman PLGMEA central for the year 2015-2016 

Ch. Ahmed Zulfiqar Hayat has been 

unanimously elected as the Chairman 

of the Pakistan Leather Garments 

Manufacturers and Exporters 

Association (PLGMEA) Central for 

the year 2015-2016 in the 1st Meeting 

of newly elected 14th Central 

Executive Board held in Karachi 

Gymkhana recently. The Board 

Members applauded the services of 

outgoing Chairman Mr. Atif Ashraf. 

The Board also approved the 

nomination of Rashid A. Zahur as 

Senior Vice Chairman and Mr. 

Tassawar Hussain as Vice Chairman 

of the Association from Southern and 

Northern Zones respectively. Ch. 

Zulfiqar was elected 6th time the 

Chairman Pakistan Leather Garments 

Manufacturers and Exporters 

Association (Central Office). 

The other members of the Central 

Executive Board of PLGMEA for 

Commodities 

Leather 

Leather Apparel & 

Clothing 

Leather Gloves 

Leather Footwear 

Other Leather 

Manufactures 

Source : Pakistan Bureau of Statistics. 

Left to Right : Mr. Atif Ashraf(Out going Chairman Central), Mr. Saleem Ahmed, 

Mr. Danish Khan, Mr. Rizwan Rashid (Chairman Southern Board), Mr. Fawad 

Ijaz Khan (Patron-in-Chief), Ch. Ahmed Zulfiqar Hayat (Chairman Central), 

Mr. Amir Majeed, Mr. Khalid Jahangir (Chairman Northern Board) 

2015-2016 are Mr. Daniyal Shaikh, 

Mr. Fawad Ijaz Khan, Mr. Irfan Iqbal, 

Mr. Rizwan Rashid, Mr. Tanzim A. 

Kazmi, Mr. Rizwan Ahmed Khan, 

Mr. Arif Qureshi, Mr. Nasir Khan, 

Mr. Mohammad Danish Khan, Mr. 

K.M. Abdul Mabud, Maj (R) M. 

Rafique Sethi, Mr. Shezada Khurram 

Virk, Mr. Shakeel Khalji, Syed 

Ahtesham Mazhar, Mr. Hassan Ali 

Bhatti, Sh. Attique-ur-Rehman Ratra, 

Exports performance of leather & leather products 

From Pakistan during July-June 2014-2015 vis-à-vis 2013-14 

TOTAL : 

Unit 

‘000’ SQM 

AUP/Sq.M 

‘000’ DOZ 

AUP/Pcs 

‘000’ DOZ 

AUP/Pair 

‘000’ Pairs 

AUP/Pair 

‘000’ KGS 

AUP/Kg 

Mr. Kamran Malik, Mr. Ghulam 

Murtaza, Mr. Kamran Rashid. 

Mr. Rizwan Rashid was elected as 

Chairman of PLGMEA Southern 

Zone and Mr. Osama Abid as Vice 

Chairman of Zone for 2015-16. Mr. 

Khalid Jahangir was elected as 

Chairman of PLGMEA Northern 

Zone and Mr. Ehsan-ul-Haque as 

Vice Chairman of Zone for 2015-16. 

(Value in Thousand US Dollars) 

July-June July-June 

% Change 

2013-14 2014-15 

Qty Value Qty Value Qty Value 

29,348 

1,389 

7,947 

7,396 

1,364 

551,412 

18.79 

406,255 

24.37 

202,548 

4.25 

98,803 

13.36 

16,311 

11.96 

21,106 

955 

6,970 

7,439 

488,747 

23.16 

366,538 

31.98 

216,375 

5.17 

110,133 

14.80 

12,443 

-28.28% 

-31.25% 

-12.29% 

0.58% 

-11.36% 

-9.78% 

6.83% 

11.47% 

-23.71% 

1,275,329 1,194,236 -6.36% 



Port t & Shipping News 

Federal Minister Kamran Michael visits KCCI 

PNSC earns Profit of 

Rs2.11 billion 

Pakistan National Shipping 

Corporation (PNSC) achieved a 

profit of Rs.2.11 billion in the last 

fiscal year ended June 30, 2015. 

Chairman Businessmen Group & Former President of the Karachi Chamber of 

Commerce & Industry Siraj Kassam Teli and President of the Karachi Chamber 

of Commerce and Industry Younus Muhammad Bashir presenting Chamber's 

crest to Federal Minister for Ports and Shipping, Senator Kamran Micheal 

during his visit to KCCI. 

Mr. Arif Elahi 

Chairman / CEO 

During the 37th annual general 

meeting held recently, PNSC 

Chairman Arif Elahi informed the 

shareholders that Pakistan State 

Oil (PSO) has yet to pay Rs.1.5bn 

to PNSC in demurrages. 

“PNSC could save up to $40,000 

per day if its ships are not asked to 

line up at ports and wait for longer 

period to offload POL (petrol, oil 

and lubricants) cargoes,” he said. 

The chairman informed the meeting 

that haulage rates with PSO had 

not been revised for the last three 

years despite having a clause in the 

shipping contract. He disclosed that 

under an agreement PSO is bound 

to pay $15,000 per day on account 

of demurrage. 

Federal Minister for Ports and 

Shipping, Kamran Michael recently 

visited (KCCI) and discussed Ports and 

Shipping matters with the members. 

He announced to revoke a committee 

formed recently to review and give 

recommendations on ports and 

shipping matters. 

Chairman Businessmen Group and 

Former President KCCI Siraj 

Kassam Teli, Vice Chairman BMG 

Zubair Motiwala, President KCCI 

Younus Muhammad Bashir, Senior 

Vice President KCCI Zia Ahmed 

Khan, Vice President KCCI 

Muhammad Naeem Sharif, Former 

Presidents KCCI AQ Khalil & 

Iftikhar Ahmed Vohra, KCCI 

representative on Board of Trustees 

of Karachi Port Trust Dr. Qazi 

Ahmed Kamal and KCCI Managing 

Committee members were also 

present at the meeting. 

Referring to KCCI’s representation 

at the Board of Trustees of Karachi 

Port Trust, Siraj Teli asked the 

Minister to incorporate similar 

representatives of Karachi Chamber 

on the Boards of Port Qasim 

Authority and Pakistan National 

Shipping Corporation as KCCI has 

been directly dealing with ports and 

shipping related matters being faced 

by its members on day-to-day basis. 

Speaking on the occasion, Vice 

Chairman BMG Zubair Motiwala 

stressed the need to develop the 

infrastructure for efficiently dealing 

with growing container traffic, 

besides ensuring sufficient space 

and availability of sniffer dogs at 

the ports for speedy container 

examination. 

Earlier while welcoming the Minister, 

President KCCI Younus Muhammad 

Bashir expressed concerns over high 

sea port charges in Pakistan which 

discourage cost efficient shipping 

lines from taking cargo to and from 

Pakistan, resulting in a demand/ 

supply gap and higher transportation 

costs for the trader. “Karachi’s two 

ports have charges which are 

estimated to be three times that of 

Sri Lanka’s, and seven times that of 

Singapore. Such problems should be 

addressed at the earliest, if we want 

to see Pakistan rapidly become a hub 

of regional trade”, he added. 



China to construct LNG Terminal at Gwadar 

KPT seeks bids for 

reconstruction of berths 

KPT invites applications from 

International Consultants specialized 

in marine/waterfront projects for 

detailed planning & design of 

"Reconstruction of Berths 22 to 25 

at West Wharf including Turning 

Circle in Upper Harbour at Karachi 

Port". The work would inter alia 

include detailed planning, designing of 

berth and creating of space for 

Turning Circle in Upper Harbour 

area, preparation of detailed reports, 

tender documents, PC-1 and 

selection of the Contractor etc. 

KPT invites bids for 

dredging works 

Karachi Port has invited bids for 

Capital Dredging of port approach 

channel works, from reputable and 

highly experienced firms/companies 

with proven technical and financial 

capabilities for executing dredging of 

approx 5.0 million, through 

deployment of suitable dredging 

equipment and allied machinery such 

as trailing Suction Hopper Dredger 

of suitable capacity, supplemented by 

a cutter suction dredger and backhoe 

or grab dredgers for dredging hard 

stratas (if required), all capable of 

dredging up to 20m depth with 

discharge/disposal of dredged 

material at designated dumping site. 

Anticipated job completion time is 

three months. 

In a positive bid to cope with the 

bourgeoning energy crisis, the 

process to award the contract of 

$2.5 billion to China Petroleum 

Pipeline Bureau (CPPB) for 

erecting 

L N G 

terminal 

at 

Gwadar 

a n d 

laying 

down 

7 1 1 

kilometres 

long and 

42 

inches diameter pipeline from 

Gwadar to Nawabshah will be 

completed in November this year. 

Both the components of the project 

will come on stream in December 

2017. To this effect, the technical bid 

was opened as per the tender toeing 

the spirit of PPRA Rules recently. 

“The Chinese state owned 

company — CPPB — has under 

the government-to-government 

arrangement deposited its technical 

and commercial bids for the $2.5 

Engro signs loan deal for 

LNG terminal 

The World Bank and Asian 

Development Bank (ADB) agreed 

to co-finance the Pakistan’s premier 

liquefied natural gas (LNG) import 

terminal of Engro, which has already 

been built at the total cost $125 

million, said a company’s statement 

recently. It says Engro Elengy 

Terminal Private Limited signed a 

loan agreement with the International 

billion project, and we have 

examined and screened all the 

documents relating to the technical 

bid. However, the commercial bid 

will be opened in November once 

t h e 

evaluation 

of the 

technical 

bid gets 

completed,” 

Mubeen 

Saulat, 

Managing 

Director 

of Inter- 

State Gas 

System (ISGS), told media persons 

after the technical bid was opened. 

However, the international 

consultant will also minutely 

examine the documents of the bids. 

The said Chinese company will not 

only construct the LNG terminal 

with a capacity to handle 500 million 

cubic feet gas per day with modern 

floating re-gasification and storage 

unit (FRSU), but also lay down 711 

kilometres pipeline from Gwadar to 

Nawabshah with a capacity to carry 

1.5 billion cubic feet gas per day. 

Finance Corporation, a member of 

the World Bank Group and ADB for 

its Elengy terminal at the Port 

Qasim. 

“The LNG terminal is a first of its 

type and has been built at a cost of 

$125 million in a world record time 

of 332 days,” it said. “The terminal 

– which is also one of the most costefficient 

terminals in the region – has 

the peak capacity for re-gasification 

of up to 690 mmcfd (million metric 

cubic feet/day) of LNG.” 



FCCL earnings at 

Rs.1.5 billion 

Cement Industry 

Lucky Cement profit rises to Rs12.43bn 

Fauji Cement (FCCL) announced 

4Q2015 earnings of Rs.1.5 billion 

(EPS Rs1.1) as against Rs.631 million 

(EPS Rs0.5) in the same quarter last 

year. This result was well above the 

market estimates. The result also 

accompanied an interim cash 

dividend of Rs.1.5 per share (FY15 

dividend Rs.2.5 per share). 

In 4QFY15, FCCL recorded 

revenues of Rs.5.2 billion, up 5 

percent year on year YoY, mainly on 

the back of higher net retention price. 

Gross profit margin improved 

substantially by 658bps to 42.7 percent 

in 4QFY15. Impressive GP margin 

was due to strong local cement prices, 

lower international coal prices, relief 

in power tariff by Rs2-2.5/kwh from 

Jan 2015 bills and savings from newly 

installed Waste Heat Recovery (WHR) 

plant, said Nabeel Khursheed, analyst 

at Topline Research. 

Financial charges during 4QFY15 

declined considerably by 50 percent 

YoY to Rs.123million, thanks to swift 

deleveraging, stable rupee to dollar 

parity (foreign currency denominated 

loan of $43.8 million or 80 percent of 

long-term financing as of June 2014) 

and cut in policy rate to 7 percent. 

Lucky Cement Ltd’s net profit rose 

by 9.6 per cent to Rs12.43 billion 

for the year ended June 30, 2015 

from Rs11.34bn a year earlier. 

Earnings per 

share (eps) 

increased to 

Rs38.44 from 

Rs35.08. 

Net sales 

grew 3.9pc to 

Rs44.76bn 

from Rs43.08bn, mainly because of 

rise in volume, the company said. 

The local sales increased 7pc to 4.42 

million tonnes from 4.13m tonnes, 

but exports decreased 4.5pc to 

2.37m tonnes from 2.48m tonnes. 

The board proposed final cash 

dividend of Rs9 per share. 

On a consolidated basis, the 

company reported net profit of 

Rs13.757bn for the year under 

review, 15.68pc higher compared to 

last year. Consequently, 

consolidated eps increased to 

Rs42.54 from Rs36.78 last year. 

In a press statement released on 

Tuesday, the company reported 

progress on its key foreign and local 

projects, including fully integrated 

cement manufacturing plant in 

Congo, and a 660MW coal-based 

p o w e r 

project, 

among 

others. 

Analysts 

said the 

company 

results 

were in line with market 

expectations. 

The consolidated 4QFY15 earnings 

amounted to Rs3.5bn (eps Rs10.7), 

up by 4.9pc as against Rs3.3bn (eps 

Rs10.2) in the same quarter last 

year. 

Bottom-line growth in 4QFY15 was 

restricted to 4.9pc, mainly on the 

back of higher effective tax rate (up 

by 872bps year-on-year to 27.4pc) 

as a result of one-time super tax. 

However, profit before tax 

increased by 16.7pc year-on-year 

to Rs5.1bn due to improvement in 

gross profit margin and decline in 

financial charges. 

DGKC earns Rs7.63bn 

DG Khan Cement (DGKC) posted 

net earnings for the FY15 at Rs7.63 

billion, translating into earning per 

share (eps) at Rs17.40, representing 

growth of 28 per cent from 

Rs5.97bn (EPS: Rs13.62) in fiscal 

year 2014. 

In the fourth quarter of fiscal year 

2015 alone, earnings increased by 

14pc quarter on quarter to Rs5.14 per 

share. 

Analysts at AKD Securities observed 

that the key reasons for earnings 

performance were improvement of 

80bps YoY in gross margins, which 

settled at 42.4pc during fourth 

quarter of fiscal year 2015 fueled 

by falling coal prices; reduction in 

administrative and selling expenses 

by 38pc YoY. 

An 18pcYoY decline in borrowing 

costs due to lower interest rates and 

deleveraging of balance sheet. 



Telecom firms seek 

withdrawal of 19.5 

percent tax 

The telecom companies are 

desperately waiting for notification 

for withdrawal of the 19.5 percent 

provincial sales tax on mobile 

internet and data services by 

Punjab Revenue Authority (PRA), 

it is learnt. Tax experts told media 

that one of the telecom operators 

has already obtained stay order 

against the levy from the Lahore 

High Court (LHC). 

Punjab government had reportedly 

committed withdrawal of the mobile 

internet taxes on floor of House in 

budget speech on June 12. 

Reportedly, the notification issued by 

PRA will be withdrawn that was 

initially issued on May 28 on mobile 

internet and data service as GST at 

19.5 percent exceeding speed of 

2MBs or above Rs 1,500 connection 

including 3G and 4G service. 

The telecom operators are also 

confused about the chargeability 

of provincial sales tax by the PRA 

on mobile internet and data 

services. There has been no 

notification issued for the 

withdrawal of the GST on mobile 

internet by PRA after lapse of 

months since Chief Minister 

Shahbaz Sharif issued a statement 

to withdraw tax on mobile internet 

in a meeting with PRA officials on 

July 29. It is learnt that the officials 

of PRA seemed to be resisting 

withdrawal of tax of 19.5 percent 

on mobile internet data services 

which was its proposal to generate 

billion of rupees taxes through 

telecom industry. 

Telecommunication News 

‘Zong plans to invest huge amount in 

finest voice, data services’ 

Zong is planning to invest huge 

amount in the country to provide finest 

voice and data services by expending 

its services, said Deputy CEO Zong 

Niaz A Malik. Zong would positively 

consider if government go for 3G/4G 

auction Gilgit-Baltistan and Azad 

Kashmir, said Malik while talking to 

media after inaugurating state-of-theart 

Experience & Service Centre. 

"By enhancing 3G and 4G networks 

through further investment, Zong 

CMPAK is determined to contribute 

towards better technology, better 

lifestyle and improved experience for 

its valued customers", Malik added. 

About the return of 3G/4G licenses 

Malik said it was not being expected 

to get return in one year but it is a 

long-term investment. 

Deputy CEO said that further 

investment worth millions of dollars 

will be made in the days to come to 

provide finest voice and data 

services. "After 3G/4G revolution in 

Pakistan, Zong was the first one to 

launch 4G LTE services after getting 

the 4G license for $210 million along 

with its 3G license, which totalled 

more than $516 million. He further 

said that Zong invested one billion 

dollar in Pakistan last year. "We feel 

proud that Zong is the only operator 

in Pakistan that is providing 

unmatched 3G and 4G services to its 

customers", said Malik, adding that 

quality of its services has been 

endorsed by the Pakistan 

Telecommunication Authority (PTA) 

recently which is quite encouraging 

not only for the company but for the 

industry too. 

After the briefing, media was given 

an opportunity to visit Experience & 

Service Centre and officials of Zong 

briefed about its functioning. A 

special corner was established at the 

centre where the media was brought 

to experience 3G and 4G internet 

speed. For the first time in Pakistan, 

this Experience & Service Centre 

displays terminals exhibiting 3G/4G 

devices of leading mobile phone 

companies including Q-Mobile, 

Samsung, Microsoft, Huawei, Haier 

and Rivo. By visiting this centre, 

customers can now experience usage 

of various handsets or tabs with 

Zong's superior network prior to its 

purchase. 

Zong's existing 4G sites stand at 

2059 whereas 3G sites are 4591, 

the rapid increase in network will 

help better the customers 

experience on the Zong network. 

'We have succeeded in maintaining 

the number one slot with 3,094,683 

3G and 132,502 4G/LTE users by 

the end of 2015. By increasing our 

investments we are quite hopeful 

that our quality of services will 

further enhance to provide best 

telecom services to our valuable 

customers", Malik added. 



1QFY16: Automobile 

sales up 49%YoY 

Pakistan Automotive Manufacturing 

Association (PAMA) recently 

released auto sales figures for 

September'15. According to the data 

released, automotive sales volumes 

excluding motorbikes moved 

northwards and clocked in at ~22k 

units as compared to ~17k units sold 

during the same period last year, 

depicting an upsurge of 31%YoY. 

However on monthly basis the sales 

volume witnessed a meager decrease 

of 4% MoM. 

Total auto sales volume escalated 

by 49%YoY in 1QFY16 

During 1QMFY16, total auto sales 

surged to ~63k units, depicting 

amplification in volume sold by 

49%YoY as compared to ~42k units 

sold in 1QFY15. Moreover, on yearly 

basis cars, buses, & LCVs' volume 

soared by 36%, 52%, & 111% 

respectively. The reason behind the 

growth in sales volumes were low 

inflation rate, low interest rate pushing 

up car financing schemes and CM 

Punjab taxi scheme says a report of 

spectrum research. However due to 

delay in tractor subsidy sales volume 

of the same plummeted by 15%YoY 

to ~3K units in September'15 as 

compared to ~3.6K units during the 

same period last year. 

Under car categories PSMC, INDU, 

& HCAR sales volume ascended by 

10,501 units, 4,966 units, & 1,297 units, 

showing yearly growth of 74%, 58% 

& 27% respectively. In tractor 

category, MTL, and AGTL sales 

volumes declined to 4,392 and 2,131 

units, depicting a downfall by 

28%YoY and 33% respectively. 

Automobile News 

General Tyres discusses expansion plan, 

upgradation at AGM 

General Tyre and Rubber 

Company (GTYR) held its Annual 

General Meeting and discussed the 

company’s major expansion plan. 

The main area of focus for the 

shareholders 

was plant 

upgradation and 

expansion plan, 

which the 

company 

revealed last 

year. 

In the first phase, the management 

disclosed Rs1.2 billion will be 

invested in FY16 for expansion in 

tyre production, which was likely to 

enhance production capacity by 25 

percent. 

Currently, the company can produce 

3.1 million tyres of various 

categories. This plant is expected to 

commence its commercial 

production in the last quarter of 

FY16 in order to avail tax benefit 

under Income Tax Ordinance 

section 65B. 

Further in the second phase (longterm 

plan), the company might invest 

beyond FY16 to align the existing 

plant with international standards 

and enhance production capacity to 

almost double. 

This might affect the company’s 

cash payout as hinted by the 

management. 

During the meeting, the company 

representatives also stated that they 

received a positive response from 

the replacement market in motor 

cycle tyres segment, but market 

players started a price war so the 

company management decided to 

sell their motor 

cycle tyres to 

original 

equipment 

manufacturer 

(OEM). 

In this regard, 

the company is in 

dialogue with a large motorcycle 

OEM. Currently, the company has 

motor cycle tyre capacity of 1.0 

million and annual production of 0.7 

million tyres. The management 

believes that they will reach full 

capacity by the end of FY16. 

The management also discussed 

FY15 performance in which the 

company posted EPS of Rs12.26 

versus EPS of Rs8.60 last year. 

Analyst at Sherman Securities 

Research said that after reduction 

of import duty on tyres and ongoing 

under invoicing, the company was 

facing stiff competition in the 

replacement market. In the 

replacement market, imported and 

smuggled tyres were 10 percent 

cheaper than the company’s. 

The analyst said that most of the 

investors were interested in an 

insight to Pakistan’s largest tyre 

manufacturing company, especially 

after falling global rubber prices. 

(Courtesy: “The News”) 



Millat Tractors launches 

free service, 

training programme 

Pak Suzuki proudly announced 

relaunch of CNG cars 

Millat Tractors, the leader in tractor 

industry of Pakistan, launched its 

"Free Tractor Service and Training 

Programme" for farmers. It will be 

run at 70 different locations across 

the length and breadth of the country 

including Lahore, Multan, Sukkurand 

Islamabad Divisions. The primary 

objective of the programme is for 

engineers and training officers from 

Millat Tractors to reach out to the 

farmers and offer them free service 

of tractors. Every year through "Free 

Service and Training Programme," 

Millat undertakes free check up of 

tractors right at the doorstep of 

farmers. Spare parts are also offered 

at special discounted prices and 

training is imparted in operating and 

maintenance of tractors. Moreover, 

new models of Millat Tractors and 

agricultural implements are 

introduced to the farmers. 

The Managing Director, Hirofomi 

Nagao and General Manager, 

Marketing, Azam Mirza of Pak 

Suzuki Motor Co. Ltd. proudly 

announced the relaunch of CNG 

cars. The ceremony was held at 

Pearl Continental (PC), Karachi 

on 11th September, 2015. Also 

present at the event were the 

President & CEO, Landi Renzo, 

Italy and MD Faber Industries. 

They highlighted the value of 

factory fitted CNG being in high 

demand and safety with stable 

warranty and Euro 2 optimization 

combating pollution. 

The native officials were proud of 

Suzuki being the pioneer company 

in Pakistan to have mastered the 

mode of factory fitted CNG. The 

Company was confident that with 

the government’s support, the 

automobile industry of Pakistan 

will achieve recognition in the 

global market. 

Atlas Honda Limited, a joint venture 

of Atlas Group and Honda Motor 

Company has announced an 

investment plan of $100 million for the 

expansion of its motorcycle 

operations in Pakistan. The decision 

was made at the Board of Directors 

(BoD) meeting held on October 30, 2015. 

The BoD has approved a three-year 

expansion plan to double the installed 

capacity of its Sheikhupura factory, 

from the existing 0.6 million to over 

1.2 million units per annum. 

In this regard, an investment of 

around USD 50 million will be made 

directly by Atlas Honda, whereas 

USD 30 million will be invested by 

Atlas Honda’s associated companies 

and a further USD 20 million by the 

company’s parts suppliers to expand 

their own respective facilities. 

The first motorcycle is expected to 

roll off the new line by the beginning 

of October 2016. The expansion will 

lead to the generation of 1,800 direct 

jobs and a further 5,000 jobs at its 

associate companies and part 

manufacturing partners. 

Atlas Honda Limited, established in 

1963, currently has two production 

plants - one in Karachi and the second 

near Lahore. The company is the 

largest manufacturing and marketing 

company for the sale of motorcycles 

Motorcycle operations: 

Atlas Honda plans $100m investment 

in Pakistan. After the expansion, the 

combined assembly capacity of the 

company will rise to over 1.3 million 

units a year. 

At the announcement of the new 

investment, Saquib H Shirazi, CEO 

of Atlas Honda said, “Given an 

improved outlook for the economy, the 

company foresees the demand of 

motorcycles to rise steadily. With a 

youthful population and fast changing 

customer sentiment, the company is 

excited about the growth 

opportunities and intends to further 

expand its model lineup. With a 

continued focus on quality, technology 

and localisation, the company aims to 

deliver even greater value.” 



Banking & Insurance News 

NBP in process of adding 

Money Gram as another 

remittance tie-up 

National Bank of Pakistan (NBP) and 

Money Gram formally shared the 

documents for finalising agreement to 

enter Money Gram as another 

important tie-up of NBP. The sharing 

agreement documents ceremony was 

held in NBP Exchange Company. 

This new addition in NBP tie-ups will 

help to meet the demands and 

changing market dynamics of 

remittances across world and 

specially Gulf Market. 

Khalid Bin Shaheen, SEVP/Group 

Chief, Global Home Remittances 

Management Group said that in 

Pakistan's economy Home 

Remittance is the second largest 

source of foreign exchange after 

export therefore remittances play an 

important and centric role in Pakistan 

economy and National Bank of 

Pakistan is one of main and key force 

Wahab, Managing Director (A) of NBP Exchange Company and Reza Samad 

Money Gram's Country Head for Pakistan and Afghanistan sharing documents 

to finalize an agreement. Khalid Bin Shaheen, SEVP/Group Chief, Global Home 

Remittance Management Group also present. 

behind the remittances. He further 

said, NBP having the most penetrated 

network in Pakistan, providing 

comprehensive domestic distribution 

of remittances to beneficiaries across 

Pakistan. A number of renowned 

international exchange houses and 

money transfer companies from 

across the world, including the Middle 

East, Europe, Asia-Pacific and 

America, have been using our services 

with utmost trust and satisfaction. 

NBP launches 

Bancassurance product 

in Karachi, Lahore 

National Bank of Pakistan (NBP) 

launched Bancassurance product in 

collaboration with State Life 

Insurance Corporation of Pakistan 

(SLIC) and GBA Services Ltd 

recently in Karachi and Lahore. 

Mudassir H. Khan - SEVP/Group 

Chief, CRBG, NBP, Izqar Khan 

Executive Director (SLIC), Gian 

Chand Kewalramani, Head 

Bancassurance (SLIC) and 

Muhammad Naseem Rawther CEO, 

GBA Ltd. graced the occasion. 

NBP had signed a tripartite 

agreement with SLIC and GBA 

Services (Private) Limited for 

Bancassurance products and 

services. The agreement was inked 

for the distribution of insurance 

products 

through NBP 

branches and 

SLIC will 

p r o v i d e 

insurance risk 

cover, products, 

services and 

benefits. 

Mudassir H. 

Khan - SEVP/ 

Group Chief, CRBG-NBP said that 

NBP will act as a distributor for 

Bancassurance products through 

NBP branch network and introduce 

a cross sales culture throughout the 

organisation. 



MCB Bank earns Rs20.2bn profit after tax in nine months 

The Board of Directors of 

MCB Bank Limited, met 

under the chairmanship of 

Mian Mohammad Mansha, 

recently to review the 

performance of the Bank and 

approve the financial 

statements for the nine 

months ended September 

30, 2015. 

The Bank continued with its 

strong performance on 

account of low cost deposits 

base, improved quality of 

advances and significant 

contribution from nonmarkup 

income. Controlled 

operating expenses and provision 

recoveries remained the hallmark of 

the period under review. 

MCB Bank Limited posted a healthy 

increase of 24 percent in profit before 

tax (PBT) which stood at Rs. 34.1 

billion. With profit after tax of Rs. 20.2 

billion, the Bank showed an increase 

of 12 percent over corresponding 

period last year. On the gross 

markup income side, the Bank 

recorded an increase of Rs. 4.8 

billion with major contribution 

from investment income. 

The total asset base of MCB 

Bank Limited grew by 11 

percent over December 2014 

and was reported at Rs. 1.04 

trillion. 

Third quarter of the calendar 

year remained challenging for 

the banking industry in terms 

of deposits. Tax on 

transactions introduced for 

non-filers had an impact on the 

deposit growth rate registered in the 

preceding quarters. However, overall 

deposit growth remained satisfactory 

despite the reduction in high cost 

deposits. 

United Bank posts profits of Rs7.024 billion 

The United Bank Limited 

(UBL) has announced a net 

profit of Rs7.024 billion for the 

quarter ended September 30, 

up 20 percent as against 

Rs5.853 billion earned a year 

ago. The earnings per share 

(EPS) clocked in at Rs5.58 in 

the quarter as compared to 

Rs4.71 last year. 

The bank has also announced 

an interim cash dividend of 

Rs3 per share, which is in 

addition to Rs6 per share 

already paid to the 

shareholders. 

Umair Nasir at Topline Securities said 

the earnings growth in the quarter 

was led by a 25 percent increase in 

the net interest income (NII) to 

Rs14.368 billion. 

“Major investment in long-term 

Pakistan Investment Bonds 

(PIBs), growth in other assets 

and strong international 

presence supported NII growth 

despite declining interest 

rates.” 

Non-interest income during the 

quarter increased by four 

percent to Rs5.224 billion. 

Non-interest expense 

increased by seven percent to 

Rs8.542 billion, driven by higher 

admin expenses. 

For the nine-months ended 

September 30, 2015, the UBL 

posted a net profit of Rs20.443 billion, 

translating into EPS of Rs16.21 as 

compared to the profit of Rs17.178 

billion and EPS of Rs13.94 last year. 



HBL posts profits 

Habib Bank Limited (HBL) has 

announced net profit of Rs10.193 

billion for the quarter ended 

September 30, 2015, which is 46.5 

percent higher than Rs6.954 billion 

earned a year earlier. The earnings 

per share (EPS) clocked in at 

Rs6.95 for the quarter under 

review compared with Rs4.74 for 

the same quarter last year. 

The bank has also announced an 

interim dividend of Rs3.5 per share 

which is in addition to Rs7.0 per 

share already paid to shareholders. 

During the quarter, interest earned 

declined by 3.0 percent and interest 

expense declined by a meagre 0.10 

percent, however the bank 

managed to post an overall rise in 

net interest income by 7.89 

percent to Rs17.662 billion. 

“This may be attributed to the large 

deposit base that HBL has and its 

focus on reducing cost of deposits 

as reflected,” Fawad Basir at Arif 

Habib Limited said. Capital gains 

recorded indicate the bank cashing 

in on the high yielding PIBs. 

Noninterest income for the quarter 

under review stood at Rs10.019 

billion compared with Rs4.459 

billion in the same period last year. 

This surge in noninterest income 

can be attributed to gain on sale of 

securities to the tune of Rs5.235 

billion in the quarter compared 

with Rs107.846 million last year. 

For the nine months ended 

September 30, 2015, HBL has 

posted a net profit of Rs27.107 

billion translating into EPS of 

Rs18.48 compared with the profit 

of Rs20.496 billion and EPS of 

Rs13.97 in the same period last 

year. 

Meezan Bank 

announces Rs 3.95b 

profit for 9 months 

Meezan Bank Limited has recorded 

a growth of 10% in its after tax profit 

for the nine months period ended 

September 30, 2015. Profit after tax 

increased to Rs 3.950 billion from 

Rs 3.576 billion, a growth of 10%. 

The Earnings Per Share of the Bank 

for nine months period ended on 

September 30, 2015 was Rs. 3.94 

(September 30, 2014: Rs. 3.57 per 

share). Deposits of the Bank 

increased to Rs. 438 billion as at 

September 30, 2015 from Rs. 380 

billion as at December 31, 2014, a 

growth of 15% against an overall 

growth in banking industry deposits 

of 8% during the same period. 

The Board of Directors of Meezan 

Bank Limited, in its meeting held in 

Bank Alfalah’s financial results for 

the nine month period ended 

September 2015 remained positive, 

with the Bank registering profit 

before taxation of Rs. 10.283 Billion 

– a solid growth of 68 percent, as 

against the corresponding period 

last year. The Bank’s Profit after 

tax was recorded at Rs. 6.044 Billion 

in September 2015 as compared to 

Rs. 4.015 Billion in September 2014. 

Earnings per Share improved to Rs. 

3.80 at the end of the third quarter 

2015 from Rs. 2.92 reported in 

September last year. 

“Bank Alfalah continues to grow 

consistently and deliver sound 

Karachi, approved the financial 

statements of the Bank for the nine 

months period ended September 30, 

2015. The meeting was presided by 

H. E. Sheikh Ebrahim Bin Khalifa 

Al-Khalifa, Chairman of the Board. 

Vice Chairman of the Board, Mr. 

Riyadh S. A. A. Edrees also 

attended the meeting. 

Meezan Bank has maintained its 

growth momentum and profitability 

and recorded good results for the 

period. The Bank continued its 

branch expansion strategy and 

opened 67 branches during the 

period, taking its branch network to 

495 branches in over 120 cities in 

Pakistan and maintaining its position 

as the 8th largest bank in the country 

both in terms of deposits and branch 

network. The Bank has been 

consistently recognized as the best 

Islamic Bank in Pakistan by various 

local and international institutions 

over the past several years. 

Bank Alfalah earns PBT of Rs. 10.283 bn 

financial performance despite a 

challenging external environment. 

We continue to increase our 

profitability and for the first time in 

the Bank’s history, our profit before 

taxation has crossed the Rs. 10 

billion mark. We are optimistic that 

we will continue to maximize 

shareholder value while creating 

innovative solutions to help our 

customers succeed,” said Atif 

Bajwa, President & CEO, Bank 

Alfalah. 

The Bank’s total assets at the 

Balance Sheet date stand at Rs. 

789.413 Billion, increasing by 6.2 

percent from the year end position 

in 2014. 



State Life pays Rs13.09bn as claims in 2014: 

Nargis Ghaloo 

Jubilee Life wins 

Training Development 

and Leadership Award 

Jubilee Life, Pakistan's leading life 

insurance company in the private 

sector added another feather to its 

cap, bagging the Asian Training & 

Development Leadership Award 

2015 at a ceremony held in Dubai 

recently. In a glittering event, 

graced by the presence of 

renowned corporate leaders from 

around the world, Munawar Khalil, 

Head HR, Learning & Support, 

Jubilee Life, was presented the 

"Training Leader of the Year" 

award. 

"This is a proud moment for us. 

Recognition like this only drives us 

forward to achieve even more 

excellence in training and 

development," said Khalil. "At 

Jubilee Life, we lay special 

emphasis on developing our 

resources through a strategic 

learning process that reflects in the 

success we have achieved over the 

years. Development of the skill sets 

and capabilities of our employees, 

both personal and professional is 

paramount to our training and 

development program and our 

enthusiastic yet cordial learning 

infrastructure is evident to it." 

The prestigious award is a 

celebration of all companies that 

have contributed in setting high 

standards of work and 

management in their respective 

industries. 

State Life Insurance Corporation 

of Pakistan in the year 2014 has 

paid total amount of Rs.13.091 

billion against all claims, thus 

providing financial protection and 

savings to millions of valued policy 

holders and their families 

nationwide. 

This was stated by Chairperson 

State Life Nargis Ghaloo in an 

inaugural speech on the occasion of 

the Convention- 2015. Executive 

Director Izqar Khan, G.M. 

Marketing Mohsin Abbas, senior 

corporate executives and the 

delegates from all over Pakistan 

attended the convention. 

Nargis Ghaloo said that ‘State 

Life’ is the leading insurer in the 

country and is extending the 

benefits of life insurance to all 

sections of society throughout 

Pakistan. State Life has the 

marketing strength of 1,013 Area 

Managers, 7,199 Sales Managers, 

19,114 Sales Officers and 170,861 

Sales Representatives spread in 

far corners of the country. Its aim 

is to widen the area of operation 

of life insurance and making it 

available to as large a section of 

the population as possible. State 

Life is also fulfilling its obligations 

to the nation by providing 

respectable job opportunities to 

the masses to work as ‘State 

Life’s field workers’. 

Further, she said that State Life in 

the year 2014 secured 1st Year 

premium including renewal, which 

has increased from Rs. 52.697 

billions to Rs. 59.627 billions; 

showing an increase of 13 percent. 

State Life has procured new 

premium of 4.879 million (USD) in 

Gulf region covering Kuwait, UAE 

and Saudi Arabia in the year 2014. 

The Marketing force of State Life 

has extended financial protection to 

737,488 families nationwide during 

the year 2014. Total number of inforce 

Policies till the end of 2014 

are 4.982 million. 



Aviation & Hotels News 

PIA records Rs2.8bn profit in first quarter of this year 

The Pakistan International Airlines 

(PIA) recorded a gross operating 

profit of Rs2.83 billion in the first 

quarter of this year and its revenue 

increased by six per cent as 

compared to last year, the aviation 

ministry said recently. 

Addressing a Press briefing with 

Fariha Tahir Shah of the Civil Aviation 

Authority, Sher Ali Khan, a 

spokesman for the aviation division, 

said efforts made by the prime 

minister’s special assistant on aviation 

had made the recovery possible. 

Mr Khan said that in 2014-15 the 

national carrier had reduced its loss 

by 37 per cent. 

“The turnaround is visible because the 

PIA has increased its fleet size from 

22 aircraft in 2013 to 35 planes at 

present and plans are under way to 

increase the size to 42 by the end of 

this year,” he said. 

Take a look: PIA to acquire 12 planes 

on dry lease. Mr Khan said that in 

2013-14 the loss before tax suffered 

by PIA stood at Rs27.45bn which 

was reduced to Rs8.62bn in 2014-15. 

“After grounding the A-310 aircraft 

and acquiring 777 aircraft, the 

average fleet age will come down to 

six years from 20 years earlier,” he 

said, adding that the measures had 

improved service standards of the 

airlines. 

He said that in an effort to reduce 

costs, PIA closed its loss-making 

international routes and shut down 

offline stations like Chicago, Istanbul 

and Sydney, from where the airlines 

did not operate flights. 

The spokesman also highlighted the 

positive outcomes of the National 

Aviation Policy 2015 which “led to 

inauguration of the Multan 

International Airport, development of 

the BBIAP, Islamabad, and 

construction of the Haj lounge at the 

Allama Iqbal Airport, Lahore”. 

Qatar gifts 8 infield 

shuttle buses to PIA 

The Government of Qatar has gifted 

8 Co-Busses to Captain Shujaat 

Azeem, Special Assistant to the 

Prime Minister on Aviation. These 

busses are manufactured for 

transporting passengers from terminal 

to aircraft. The cost of these busses 

is around Rs 200 million. Prime 

Minister Nawaz Sharif enjoys cordial 

and brotherly relations with Qatar. 

This gift is a token of friendship and 

brotherhood between the two Islamic 

countries. 

The induction of these busses is in 

line with the vision of Prime Minister 

and Special Assistant to Prime 

Minister, Captain Shujaat Azeem to 

modernise the aviation industry of 

Pakistan. 

Etihad Airways has won the 

prestigious ‘Airline of the Year’ 

title at the Travel Trade Gazette 

(TTG) awards in the United 

Kingdom. The awards ceremony 

was held at the famous Lyceum 

Theatre in London. 

Etihad Airways 

Wins ‘Airline of the year’ 

Award in UK 

Peter Baumgartner, Chief 

Commercial Officer at Etihad 

Airways, said: “We are delighted to 

have been recognised by the Travel 

Trade Gazette and UK travel trade, 

who have voted Etihad Airways as 

the ‘Airline of the Year’. 



McDonald's partners with TDCP to promote tourism 

McDonald's Pakistan and Tourism 

Development Corporation of Punjab 

celebrated the World Tourism Day 

at Alhamra Art Council recently. 

The theme this year was "One 

Billion Tourists, One Billion 

Opportunities" as declared by 

United Nations. Mian Tahir Javed, 

Director HR, Training, IT 

McDonald's Pakistan speaking at 

the seminar emphasized the need 

of awareness drives to highlight the 

importance of tourism in Pakistan. 

Other speakers present at the event 

were Rana Mashood, Provincial 

Minister for Tourism, Education, 

Ahmer Malik, MD TDCP, Kamran 

Lashari, DG Walled City Project 

Lahore and Sohail Waraich, 

Anchor & Journalist. McDonald's 

Pakistan & TDCP have partnered 

in promoting tourism and raising 

awareness of the significant 

impact tourism has on 

communities and countries 

around the globe and its potential 

as a force for good and creating 

a better world for all. 

Mövenpick Hotels signs 

accord with Pak Gulf 

Construction company 

Mövenpick Hotels & Resorts signed 

an agreement recently with Pak Gulf 

Construction Company (PVT) Ltd to 

manage a new upscale property. The 

agreement to operate Mövenpick 

Hotel Centaurus Islamabad, the 

Swiss hospitality company's first 

property in Pakistan's dynamic 

capital, was facilitated by Middle East 

consultancy firm, Equinox Hospitality 

Group, which played a key role in 

developing this owner-operator 

partnership. Speaking at the 

property signing ceremony, Andreas 

Mattmüller, Chief Operating 

Officer, Mövenpick Hotels & 

ResortsMiddle East and Asia, said 

business opportunities in Pakistan 

were tremendous given its 

advantageous geographical location 

at crossroads of several economic 

powerhouses including south and 

central Asia and the Middle East." 

PIA discounts on 

foreign flights 

PIA announced discounts for 

October and November 

flights from Pakistan to New 

York, Toronto, London and 

Manchester, Paris, Milan, 

Copenhagen, Oslo, Beijing, 

Kuala Lumpur and the UAE. 

A PIA spokesperson said the 

discounts will be 20 percent 

for Economy Class and 30 

percent for Business Class 

for flights between October 

1 and November 30. 

Oman Air operating 

range of codeshare 

partnerships 

As Oman Air continues its fleet and 

network expansion programme, it has 

also confirmed its commitment for 

increasing customer choice by 

operating a range of codeshare 

partnerships. The national carrier of 

the Sultanate of Oman is currently 

increasing the size of its fleet and will 

operate 25 wide-body and 45 narrowbody 

aircraft by 2020. It is also 

launching new services to exciting 

destinations around the world. 

However, the airline aims to offer 

even greater choice and convenience 

for customers by working in 

partnership with other airlines which 

operate to similarly high quality 

standards as Oman Air. 


UPCOMING B2B EVENTS . . . 

1-3 March 2016 

Pak-China Friendship Centre, Islamabad 

12th International Safety & Security 

Exhibition & Conference 

Website: www.safesecurepakistan.com 

E-mail: info@safesecurepakistan.com 

Pakistan 

food + bev tec 

18 - 20 August 2016, Lahore Expo Centre 

13th Edition of the International Food, Beverage 

& Packaging Technology Trade Fair 

Website: www.foodtech.com.pk 

E-mail: info@foodtech.com.pk 

19 - 21 May 2016, Lahore Expo Centre 

14th International Exhibition for 

the Energy Industry 

Website: www.pogee.com.pk 

E-mail: info@pogee.com.pk 


3rd International Food, Beverages & 

Hospitality Exhibition 

Website: www.foodtech.com.pk 

E-mail: info@foodtech.com.pk 

P A K I S T A N 


14th International Plastics & Packaging 

Industry Trade Fair 

Website: www.plastipac.com.pk 

E-mail: info@plastipac.com.pk 

4th International Multi-Modal Transportation, 

Logistics Conference 

Website: www.intertranspakistan.com 

E-mail: info@intertranspakistan.com 

Pegasus 

Pegasus Consultancy (Pvt) Ltd 

2nd Floor, Business Centre, Mumtaz Hassan Road, Karachi - Pakistan 

Tel : +(92-21) 111 734 266 (PEGCON) Fax : +(92-21) 3241 0723 

E-mail : info@pegasus.com.pk URL : www.pegasus.com.pk

Trade Chronicle Sep-Oct 2015

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