2 June 2016

6
Thursday, June 2, 2016
Biz
Iran says markets have
absorbed its rising oil exports
Corporate Corner
TEHRAN, Jun 1: World oil
markets have seen no negative
impact from a doubling
of Iranian exports following
the lifting of international
sanctions, the country's oil
minister said Wednesday.
The market is returning to
a "balanced state", Bijan
Zanganeh said Wednesday
before leaving for an OPEC
oil cartel meeting in Vienna.
"A doubling of exports of
Iranian oil has had no negative
impact on the market
and has been absorbed well,"
Zanganeh told his ministry's
SHANA news service.
Tehran, which has the
world's fourth-largest
proven crude oil reserves,
has been ramping up oil
exports since international
MOSCOW, Jun 1: The delegation
visiting Russia led by
CE TDAP S.M. Muneer
today had meetings with Mr.
I. Mikhametdonov, Vice
Prime Minister of Republic of
Bashkortostan along with
Director International
Development Corporation of
Republic of Bashkortostan in
the office of International
Development Corporation.
The Director, International
sanctions were lifted in
January following a deal
with world powers on its
nuclear programme.
Iranian oil production has
reached nearly four million
Development Corporation
informed the delegates about
importance of Bashkortostan
stating that the region is very
rich in oil and gas sector. The
state is interested in importing
textile products, leather,
footwear and fruits and vegetable.
In addition to this the
state is also interested to
import Halal food specially
meat from Pakistan. The
Bashkortostan state is good in
producing fine quality of
honey and petrochemicals.
The Chief Executive TDAP
informed the role of TDAP in
enhancing the trade and
developing business relationships
among importers and
exporters. CE, TDAP also
shared that TDAP will be
bringing a trade caravan to
Russia following the success
of this caravan in central
Asia. The Russia is our focal
market as declared by the
Prime Minister of Pakistan
after his meeting with Mr.
barrels per day, around the
same level as before sanctions
were imposed.
Iran stayed away from a
meeting in Doha on April 4
between OPEC and non-
OPEC members including
Russia that failed to agree on
a coordinated output freeze
that had been proposed to
boost prices.
Cartel kingpin Saudi
SBP asks banks to facilitate senior citizens
KARACHI, Jun 1: State
Bank of Pakistan has
advised all banks, including
microfinance banks, to facilitate
opening of bank
accounts and provide banking
facilities including ATM
card, credit card, etc. to the
senior citizens and pensioners
without any discrimination
vide its circular issued
on June 1, 2016.
It has been emphasized
that senior citizens are an
important and priority segment
of our society who
deserve special and dignified
conduct. Banks including
microfinance banks have
been advised to ensure high
level conduct by their
employees while dealing
with the senior citizens/pensioners
and any violation of
SBP instructions would be
dealt with in accordance
with the relevant provisions
of Banking Companies
Ordinance, 1962.
German Pakistan Chamber of
Commerce & Industry inaugurated
KARACHI, Jun 1: German
Pakistan Chamber of
Commerce & Industry
inaugurated in Karachi,
Pakistan
A high-ranking delegation
from Germany inaugurated
the newly created German
Pakistan Chamber of
Commerce and Industry
(GPCCI) at local Hotel,
Karachi German Ambassador
Ina Lepel, Dr. Stephan
Oswald, Division Head of the
German Ministry for
Economic Cooperation and
Development (BMZ), Rainer
Schmiedchen, Consul
General of the Federal
Republic of Germany in
Karachi and prominent business
leaders were present.
The guests enjoyed the Sindhi
music played on the traditional
instruments aloghoza, sitar
and chung as well as
Pakistan’s first and only sand
artist Ameer Mukhtar’s show.
“This is an important step
to further deepen our bilateral
business ties,” ambassador
Lepel stated. “The German-
Pakistan Chamber of
Commerce and Industry
(GPCCI) will provide a new
and permanent home for all
German companies in
Pakistan, Pakistani companies
working with German
products and Pakistani companies
trading with
Germany.”
KARACHI: German Pakistan Chamber of Commerce & amp, Industry launching ceremony
held at a local hotel. Picture shows from L to R, Kalim Farooqui, Waseem Mirza, Ashraf
Bawani, Ms. Ines Chabbi, Nadeem Kazmi, H.E. Mr. Rainer Schmiedchen, Dr. Stephan
Oswald, Pervaiz Akhtar, H.E. Ms. Ina Lepel, Qazi Sajid Ali, Sohail Yasin Suleman, Qaseem
Jaffri, Wajid H. Junejo, and Nafees Siddiqi, with others
Pre-Ramadan price hike linked to
poor governance: FPCCI
ISLAMABAD, Jun 1: The
United Business Group
(UBG) of FPCCI on
Wednesday asked the government
to take note of the
pre-Ramadan price hike
across the country and take
action against profiteers
and hoarders.
The prices of almost all
the commodities of daily
use have been increased
raising questions about the
system of governance, said
Zubair Tufail, Secretary
General UBG in a statement
issued here.
He said prices of items of
daily use continue to rise
indicating that district
administration in many
cities seems to be least concerned
about the plight of
masses.
It may be mentioned here
that SBP has been receiving
complaints that some banks
were reluctant in opening
bank accounts and providing
banking facilities including
ATM card, credit card, etc.
to the senior citizens/pensioners
on one pretext or
another. Such discriminatory
practices have been viewed
seriously by State Bank of
Pakistan.
Pakistan Stock
rebounds with massive
435points gain
KARACHI, Jun 1: After
observing two consecutive
bearish days, the Pakistan
Stock Exchange
Wednesday witnessed bullish
note and gained huge
434.60 points to take the
tally to 36496.16 points
level at closing.
The stocks recorded the
highest trading level of
36518.73 points and lowest
level of 36044.60 points,
with the volume of over
206 million shares, having
Rs 8.11 billion value. As
many as 349 companies
were active; of which 240
advanced, 88 declined and
21 remained unchanged.
Arabia refused to cap its
own output unless its regional
rival Iran did the same.
A global supply glut saw
oil prices collapse from
above $100 a barrel in 2014
to around $25 in January.
Prices have since recovered
to around $50 a barrel,
easing pressure on the
Organization of the
Petroleum Exporting
Countries as its members
prepare to meet in Vienna on
Thursday.
OPEC, which pumps
around a third of the world's
oil, has historically responded
to a fall in prices by cutting
production, but this time
it has maintained output as it
seeks to fend off competition
from US shale producers.
KCCI makes special
arrangements for listening
to Federal Budget speech
KARACHI, Jun 1: The
Karachi Chamber of
Commerce and Industry
(KCCI) has planned to
make special arrangements
at KCCI’s Majeed Bawany
on Friday, June 3, 2016 for
listening to and witnessing
the federal budget speech
by Muhammad Ishaq Dar
Federal Minister for
Finance, Revenue,
Economic Affairs, Statistics
& Privatization.
Chairman Businessmen
Group and Former
President KCCI Siraj
Kassam Teli, Vice
Chairman BMG and Former
Presidents KCCI Tahir
Khaliq, Zubair Motiwala,
Haroon Farooki and Anjum
Nisar, President KCCI
Younus Muhammad Bashir,
Senior Vice President KCCI
Zia Ahmed Khan, Vice
President
KCCI
Muhammad Naeem Sharif,
Former Presidents,
Managing Committee members,
leading industrialists
and representatives of small
traders will also be available
at the auditorium to
give their reaction after listening
to the speech of
Finance Minister.
KARACHI, Jun 1: Sindh Government
is playing an active role to boost trade
activities in Sindh and I assured you
that we will not let any hurdle in solving
problems of trade, industry and
environment and safeguarding the
interests of the private sector. We support
The Consumers Eye Pakistan for
successfully organizing consecutive
6th Consumer Products & Services
Quality conference-2016 in Pakistan.
This was stated by Sindh Food minister
Syed Nasir Hussain Shah. He was
the Chief Guest in 6th Consumer
Product and Services quality conference
CPSQC 2016, with the theme of
“All Pakistanis have the right to safe
high quality Products & Services”
organized by TCEP with the support of
Consumer Pakistan. Sindh Food minister
congratulate TCEP Chairman
Umar Ghauri for consecutive convening
6TH Quality Conferences in a row.
He said that our government is committed
all kind of positive quality related
activities. He said that I am confident
that our businessmen will venture
hard to adhere to highest standards of
quality control not only for consumer
satisfaction but to boost our exports
hence strengthen Economy. He
praised, consumers Eye Pakistan-
TCEP for their efforts to promote
Quality standard Culture in Pakistan.
He also acknowledged TCEP
Chairman Umar Ghauri for his extra
ordinary efforts for Quality Standards
culture and the protection of consumer’s
rights and his campaign
against Counterfeit products in
Pakistan. Umar Ghauri, Chairman
Consumers Eye Pakistan (TCEP) in
his key note speech said that TCEP has
been organizing quality conference
KARACHI: Ms. Rabiya Javeri Agha, Secretary TDAP presenting shield to Mr. Muhammad
Jan.Director Staff, NIM, alongwith participants for 19th Senior Management Course during
their visit to TDAP .
Bank Alfalah teams up with Australian Institute of
Management (AIM) for professional development training
KARACHI, Jun 1: In line with its commitment to excellence, Bank Alfalah has entered
into a partnership with Australian Institute of Management (AIM). The MoU was signed
by Mr. AtifBajwa, CEO, Bank Alfalahand Mr. Peter Mobbs, CEO, AIM at the Bank
AlfalahLearning Center, Karachi.
Under the historic agreement, AIM will facilitate and expedite learning and professional
development of Bank Alfalah employees through specialized Diploma programme
in Leadership and Management. The institute will also help Bank Alfalahin developing
and executing training programmes, as well as enhancing visibility of Bank Alfalahat
leading platforms at regional and global level.
Speaking on the occasion, Mr. AtifBajwa, CEO & President at Bank Alfalah,
remarked, “At Bank Alfalah, we are committed towards human capital excellence. AIM
is the top institution in Asia-Pacific and their collaboration with Bank Alfalah will be
mutually beneficial. We would like to benefit from the strong e-learning culture and
Learning Management System of AIM and further expand in terms of strategic benefits
of mutually held seminars, talks and burning issues in the World of Finance, which is part
of our Vision.”
Mr. Peter Mobbs, CEO at AIM, stated, “Our mission for Bank Alfalah is to align with
its Learning Competency Framework to support leadership development process, streamline
the learning opportunities and provide a range of customized and contextualized programs
across Bank Alfalah. AIM will support Bank Alfalah’s employees to gain globally
recognized professional qualifications.”
Mr. Mobbs presented a detailed overview of his Institute, its philosophy, industry
experience and key trends in the Australian and Asia-Pacific region. He also lauded Bank
Alfalah management for its strong focus on human capital development.
NFEH & SSGC to celebrate WED on June 3rd
KARACHI, Jun 1: National forum for environment and health in collaboration with Sui
southern gas company limited is going to organize celebrations of World Environment
Day 2016 on June 3rd, 2016 at SSGC Head Office, Karachi.
The objective of the event to raise environmental issues of the city and to spread
awareness, knowledge and education about the environment to the citizens.
Students of Civil Aviation School and Bohra Community School will present
Tableaus, Songs, and Speeches regarding environment on the occasion. Also, people
from corporate sector participating on the occasion.
Managing Director SSGC Khalid Rehman will be the Chief Guest on the occasion.
Naeem Ahmed Mughal-Director Environment Protection Agency, Rehmat Ullah Shaikh-
DMC East, M. Naeem Qureshi-President NFEH, Shahbaz Islam-Acting GM SSGC, Yogi
Wajahat-TV Anchor, and others will address on the occasion.
Sindh Food Minister Syed Nasir Hussain Shah Hails
6th Consumer Products & Services Quality conference
is well focused on betterment of our economy
TDAP delegation holds key meeting with Russian authorities
Vladimir Putin, President of
Russia. TDAP is following
the vision of Prime Minister
of Pakistan for product and
market diversification. We
are planning to introduce
Pakistani mangoes in Russia.
TDAP is looking forward
for two way business relations
and we are expecting
one high profile delegation
from Russia especially from
Bashkortostan and Kazan.
In the said meeting Mr.
Ata Munim Shahid, Deputy
Head of Pakistan mission in
Russia, Mr Waheed Ahmed,
Chairman Fruits and
Vegetables Association and
Mr. Farooq Afzal Chairman
FPCCI Committee on Russia
KARACHI: Sindh Food minister Syed Nasir Hussain Shah is receiving Shield
from Khalid Tawab Senior Vice President FPCCI and Umar Ghauri
Chairman The Consumers Eye Pakistan-TCEP in 6th Consumer Products &
Services Quality conference-2016, with Him Member BOO PSQCA, Hamid
Maker Founder Helpline and M. Fayyaz Ahmad Controller Patents IPO
Pakistan in a local Hotel Karachi.
CPSQC” from last five years to make
Pakistan a Consumer’s heaven and to
strengthen the country on the basis of
and Mr. Muhammad Irfan,
Director Europe, TDAP were
also present. Mr. Waheed
informed that Pakistan has
exported 3500 containers of
Mandarins and oranges.
Pakistan is one of the leading
exporters of potatoes to
Russia as well. Mr. I.
Mikhametdonov, Vice Prime
Minister of Republic of
Bashkortostan assured all
kind of assistance to Pakistani
businessmen.
Earlier this day the delegation
visited Zatonsky market
which is a big wholesale
warehouse and fruit market in
village Mokeosov. The delegation
found huge potential
for dry dates and fresh fruits
Quality, Productivity and
Competitiveness for a better future of
the coming generations.
and vegetables and expecting
a good breakthrough in this
sector. However the
Governments of both countries
need to work out on duty
structures and other non tariff
barriers to enhance trade relations.
CE, TDAP asked the Vice
Prime Prime Minister to
request his government to
provide assistance in the trade
related issues and highlight
problems being faced by our
business community.
Possibilities of joint venture
were also discussed which
can be explored and materialized.
TDAP can play a role of
bridge between Russian and
Pakistani business men.