Trade Chronicle May June 2017

www.tradechronicle.com Vol 64-Issue Nos. 05 & 06 - May - June. 2017 Rs. 200/- 

th 

64 - 

Budget 2017-18 

Minister for Finance, Senator Mohammed Ishaq Dar, presented Federal 

Budget 2017-18 in National Assembly on May 26, 2017. It has been 

prepared, keeping in mind number of economic targets, includes, Increase 

in real GDP growth of 6%; Investment to GDP 17%; Development 

budget of PKR1,001bn; Inflation below 6%; Budget deficit at 4.1% of 

GDP; Tax to GDP ratio at 13.7%; FX reserves level that can cover a 

minimum of 4 months of imports; Net public debt to GDP ratio below 

60% of GDP; and Continuation of targeted social interventions. 

Federal Minister for Petroleum & Natural Resources, 

Shahid Khaqan Abbasi alongwith President, 

Karachi Chamber of Commerce & Industry, Shamim 

Ahmed Firpo, cutting ribbon to inaugurate the 

POGEE Exhibition – 2017 at Expo Centre, Karachi. 

Karachi Chamber of Commerce & Industry, Shamim 

Ahmed Firpo, cutting ribbon to inaugurate the 

POGEE Exhibition – 2017 at Expo Centre, Karachi. 

Chairman, Pegasus Consultancy, Aasim A. Siddiqui, 

A view of Askari Cement Wah Plant 

Special Report 

on Cement Industry 

in Pakistan 

Askari Cement: a symbol of trust among million of consumers

5 & 6 MAY - JUNE 2017 

Federal Budget 2017-18: A pro-agriculture and development based 

Naphtha Cracker – vital for industrialization 

Power Crisis 

BUDGET 2017-18 

Finance Minister launches Economic Survey-FY 2016-17 

Federal Budget 2017-18: Various measures propose 

to stimulate economic growth 

A review of Punjab Budget 2017-18 

A review of Sindh Budget 2017-18 

POGEE 2017 

Federal Minister for Petroleum & Natural Resources, 

Shahid Khaqan Abbasi inaugurates POGEE 

A Chronicle Report 

Editorial Representative in 

Islamabad 

Ajaib Malik 

Special Messages:- 

Aasim A.Siddiqui, Chairman, Pegasus Consultancy 

Aamer Khanzada, Managing Director, Pegasus Consultancy 

POGEE 2017: Conference 

SPECIAL REPORT ON CEMENT INDUSTRY 

History of Cement Industry in Pakistan 

Pakistan: growth in local cement consumption unabated 

Pakistan FY18 budget ‘neutral’ for cement industry 

An update about expansion in cement industry 

Pakistan cement exports continue to disappoint 

Askari Cement: a symbol of trust among millions of consumers 

Profiles: Bestway Group, Power Cement, Maple Leaf Cement, 

Flying Cement, Attock Cement, Fauji Cement, Fecto Cement, 

Dewan Cement, Thatta Cement & Cherat Cement 

TRADE CHRONICLE - May.~June. 2017 - Page # 05

Abdul Rab Siddiqi

TRADE CHRONICLE 

Editorial comments: 

Naphtha Cracker – vital for industrialization 





Highest growth of 5.28 percent in a decade, size of the economy 

surpasses $300 billion - Finance Minister launches Economic Survey 

F i n a n c e M i n i s t e r S e n a t o r 

Mohammad Ishaq Dar, has 

launched the Pakistan Economic 

Survey 2016-17 on May 25. 

W h i l e a d d r e s s i n g a P r e s s 

C o n f e r e n c e t h e M i n i s t e r 

congratulated the nation that 

Pakistan has achieved the highest 

annual growth of 5.28 percent in a 

decade and the size of the economy 

has surpassed $300 billion. The 5.28 

percent growth is achieved on the 

back of recovery in the agriculture 

sector and better than expected 

performance in the services sector 

along with consistent growth in 

industrial sector. 

The agriculture sector growth 

remains impressive this year. The 

production of important crops like 

wheat, rice, sugar, maize remained 

e n c o u r a g i n g a n d c o t t o n 

production also remained higher 

than last year, which helped in 

agriculture growth. This was on 

account of supportive agriculture 

policies, healthy agriculture credit 

disbursement and other supportive 

m e a s u r e s p r o v i d e d t o t h e 

agriculture sector. The PM Kissan 

Package has started yielding the 

dividend in agriculture sector. 

It was also informed that the 

government has been able to anchor 

the inflation at 4.1% during first ten 

month of current year and is likely to 

contain it much below the annual 

target of 6% despite reversal in 

global commodities and oil prices. 

The government on the social sector 

also remained vigilant to reach the 

poor and destitute class by 

providing cash grant under BISP. 

The cash grant increased to Rs.115 

billion during current fiscal year. 

The per capita income has increased 

over last year by 7.4% to US dollar 

Finance Minister, Senator Mohamamd Ishaq Dar displaying copy of Pakistan Economic 

Survey 2016-17 at a launching ceremony held in Islamabad. 

1628. The LSM sector recorded 

impressive growth of 10.46% in 

March 2017 largely benefitted from 

accommodative monetary and fiscal 

policies, improvement in energy 

supplies, better availability of raw 

material, rising domestic demand, 

particularly for cement and steel, 

owing to increase in development 

s p e n d i n g i n p o w e r a n d 

infrastructure projects. 

The performance of the services 

sector remained very encouraging 

as it posted a growth of 5.98% on the 

back of better output in agriculture 

and industrial sector. The finance 

and insurance growth remained 

above 10% on the back of 

improvement in asset base reaching 

all time high to Rs.15.8 trillion and 

capital adequacy ratio increased to 

16.2%. 

The Pakistan’s public debt 

dynamics witnessed various 

positive developments during first 

nine months of current year as 

government continued to adhere to 

the targets set forth in Medium Term 

Debt Management Strategy 

(MTDS) to ensure public debt 

sustainability and weighted average 

interest rate on the domestic debt 

portfolio has been further reduced 

while cost of external debt 

contracted by the government, 

which is not only economical but is 

also dominated by long term 

funding. 

The Minister while addressing the 

press conference stated after 

successful operation of Zarb-e-Azb, 

a country-wide operation Radd-ul- 

Fassad has been launched for 

eliminating further any extremism. 

In this backdrop, success in counterterrorism 

has played a critical role in 

creating conducive economic 

environment, whose results have 

now started appearing in terms of 

growth across different segments of 

the economy. 

The capital market has reached the 

historical height above 52000 

index. In terms of market 

capitalisation, it has reached to Rs. 

10.4 trillion. The reserves have 

been strengthened enough to cover 

more than 3 months of imports, 

despite the government paid off 

loans obtained by the previous 

governments. 

The Minister stated that we are not 

complacent of this economic 

turnaround but we are looking 

towards a higher inclusive growth 

trajectory above 6% to absorb the 

growing labour force and are 

determined to provide decent and 

respectable standard of living to the 

people. 

TRADE CHRONICLE - May.~Jun. 2017 - Page # 09


Federal Budget 2017-18 

Various measures propose to stimulate economic growth 

Finance Minister Ishaq Dar presented 

Federal Budget 2017-18 in Parliament on 

May 26. The measures, he announced, 

would create more jobs and further 

stimulate the economic growth. Dar said, 

“We have been able to put Pakistan back 

on growth trajectory. Now we need to 

further strengthen our economy, in order 

to take the economy on the path of higher, 

sustainable and inclusive economic 

growth.” 

The government has fixed the GDP 

growth target of 6 percent and to contain 

inflation below 6 percent in 2017/18. 

According to 'budget in brief' tabled 

before parliament by Minister for 

Finance Ishaq Dar, the government 

presented the budget outlay of Rs4.752 

trillion for the fiscal year 2017/18 with 

total tax revenues of Rs4.33 trillion, 

including FBR's tax target of Rs4.013 

trillion and non-tax revenue target of 

Rs980 billion. The provinces will get 

share of Rs2.135 trillion in the next 

fiscal. 

Salient Features 

The budget 2017-18 has the following 

salient Features: 

The total outlay of budget 2017-18 is Rs 

5,103.8 billion. This size is 4.3% higher 

than the size of budget estimates 2016-17. 

The resource availability during 2017- 

18 has been estimated at Rs 2,926 

billion indicating an increase of 5.3% 

over the budget estimated of 2016-17. 

The net revenue receipts for 2017-18 

have been estimated at Rs 2,926 billion 

indicating an increase of 5.3 % over the 

budget estimates of 2016-17. 

The Provincial share in federal taxes is 

estimated at Rs 2,384.2 billion during 

2017-18, which is 11.6% higher than 

the budget estimates for 2016-17. 

The net capital receipts for 2017-18 

have been estimated at Rs 552.5 billion 

against the budget estimates of Rs 453.6 

billion in 2016-17 i.e. an increase of 

21.8%. 

The external receipts in 

2017-18 are estimated at 

Rs 837.8 billion. This 

shows an increase of 2.2% 

over the budget estimates 

for 2016-17. 

The overall expenditure 

during 2017-18 has been 

estimated at Rs 5,103.8 

billion, out of which the 

current expenditure is Rs 

3,763.7 billion and 

development expenditure 

is Rs 1,340.1 billion. 

The share of current and 

development expenditure 

respectively in total 

budgetary outlay for 

2017-18 is 73.7% and 26.3%. The 

expenditure on General Public Services 

is estimated at Rs 2,553.6 billion which 

is 67.8% of the current expenditure. 

Highlights 

- Poultry industry gets a boost 

- Minimum wage raised by Rs 1,000 to 

Rs 15,000 

- Pensioners & civil servants get 10% 

raise 

- Construction to cost more 

- FED on cement raised 

- Sales tax on steel up 

- Corporate tax reduced to 30% 

- Super tax extended by one year 

- Withholding agents can file revised 

statement in 60 days 

- Provisional tax assessment order 

abolished 

- Fixed sales tax on DAP import 

reduced by Rs 1000 

- Sales tax on mobile phone reduced to 

12% from 14% 

- Tax on dividend up from 12.5% to 

15% regardless of holding period 

- Modaraba companies to be taxed in 

line with banks 

- Lower WHT on cars for filers 

- Tax credit on new listings for 4 years 

- 40% risk cover by government for 

houses up to Rs 1 million 

- Minimum turnover tax raised to 

1.25% 

Prime Minister Muhammad Nawaz Sharif approving 

Budgetary and Taxation proposals for FY 2017-18, after 

Cabinet meeting at Islamabad. 

The development expenditure outside 

PSDP has been estimated at Rs 152.2 

billion in the budget 2017-18. 

T h e s i z e o f P u b l i c S e c t o r 

Development Programme (PSDP) 

for 2017-18 is Rs 2,113 billion. Out 

of this, Rs 1,112 billion has been 

allocated to provinces. Federal 

PSDP has been estimated at Rs 1,001 

billion, out of which Rs 377.9 billion 

for Federal Ministries/Divisions, Rs 

380.6 billion for Corporations, Rs 

40 billion for Special Federal 

Development Programme, Rs 12.5 

billion for Energy for All, Rs 12.5 

billion for Clean Drinking Water for 

All, Rs 7.5 billion for Earthquake 

Reconstruction and Rehabilitation 

Authority (ERRA), Rs 5 billion for 

Special Provision for Competition 

of CPEC Projects, Rs 45 billion for 

Relief and Rehabilitation of IDPs, 

R s 4 5 b i l l i o n f o r S e c u r i t y 

Enhancement. Rs 20 billion for 

Prime Minister's Initative and Rs 25 

billion for Gas infrastructure 

Development Cess. 

To m e e t e x p e n d i t u r e , b a n k 

borrowing has been estimated for 

2017-18 at Rs 390.1 billion, which is 

significantly lower than revised 

estimates of 2016-17. 



A review of 

Punjab Budget 2017-18 

The Punjab government on June 02 

announced budget for 2017/2018. It 

would enhance public development 

investment on its large road, mass 

transit and other infrastructure 

projects by a fifth to Rs635 billion 

from the revised estimates of 

Rs440bn for the outgoing fiscal, and 

offering more money for public 

welfare schemes and subsidies to 

the tune of Rs30.4bn for different 

segments of voters. 

The consolidated budget outlay 

(inclusive of expenditure of 

Rs259.8bn on state trading in 

wheat) has been estimated at Rs1.97 

trillion, up by 17.2 percent from the 

original estimates for the outgoing 

year, with current expenditure 

projected to rise by 17.6 percent to 

over Rs1tr on a year-on-year basis. 

The bulk money of Rs1.1tr for 

m e e t i n g i t s c u r r e n t a n d 

development expenditure will come 

as Punjab`s share from the federal 

divisible pool. The rest of the cash 

will be raised by hiking the 

provincial own tax target by a quarter 

to just below Rs231bn and 

increasing non-tax revenue target 

by 22.6pc to Rs117.3bn, obtaining 

foreign debt of Rs132.7bn 

(including a Chinese loan of Rs93bn 

for metro train project in 

Lahore).Besides, the government 

plans to secure suppliers` credit of 

Rs40bn for its safe city project, and 

issue provincial treasury bills and 

saving and investment bonds a first 

by any provincial government 

worth Rs25bn in the domestic debt 

market. For its commodity 

operations, the province will raise 

Rs260bn by borrowing Rs130.3bn 

from the commercial banks (for 

wheat procurement) and Rs133bn 

by selling its wheat stocks. 

Punjab Finance Minister, Ayesha 

Ayesha Ghaus-Pasha 

Ghaus-Pasha during her speech, 

recounted the efforts of the PML-N 

government to boost inclusive 

economic growth, facilitate private 

domestic and foreign investment, 

curb terrorism, and build social and 

economic infra-structure under and 

outside the China-Pakistan 

Economic Corridor, initiative in the 

province. 

She said investors from 20 

countries, excluding China and 

Turkey, whose companies had 

already invested big amounts of 

money in Punjab, had expressed 

their desire to invest in different 

sectors in the province, which was a 

sign of confidence in the provincial 

government and its policies. 

A third of development budget will 

be spent on social sector, 27pc on 

road, irrigation, energy, and other 

infrastructure and 16pc on mass 

transit (in Lahore) and other public 

services. 

Among other major election-related 

goodies the minister announced to 

woo the voters are up-gradation of 

over 300,000 primary school 

teachers and increase in honoraria 

of secondary school teacher, 

continuation of the interest-free 

loan scheme for farmers under-the 

Rs50bn Kissan package, laptop 

scheme for students, provision of 

interest-free `orange` cabs for the 

unemployed (at a whopping cost of 

Rs35bn), interest-free loans for selfemployment 

(Rs30bn have already 

been disbursed), reduction in GST 

on construction services from 16pc 

to 5pc, provision of subsidized laser 

land levelers to growers, payment of 

sales on electricity for agriculture 

tube-wells and so on. 

The government also announced a 

10pc raise in pay and pension of its 

employees and increased minimum 

wages to Rs15,000 per month in line 

with the federal decisions. 

The minister announced launching a 

metro bus project in Faisalabad, 

publicbus system in all major cities 

and clean drinking water project in 

the remoter districts, especially in 

south Punjab. 

(Courtesy Dawn) 



A review of 

Sindh Budget 2017-18 

Sindh Chief Minister, Syed Murad 

Ali Shah on June 05, unveiled a 

Rs1,043.185 billion deficit budget 

for the financial year 2017-18 in the 

Sindh Assembly. The budget 

s h o w e d t o t a l r e c e i p t s o f 

Rs1,028.865bn and estimated 

expenditures of Rs1,043.185bn, 

indicating a deficit of Rs14.32bn. 

For the next financial year, `we 

propose to enhance the budget for 

education to Rs202.2bn from 

Rs163.12bn. Grants for universities 

and education institutions 

have been kept at Rs5bn,` he said. 

He announced a 15pc increase in the 

basic salary of all employees. 

In the health sector an allocation of 

Rs100.32bn was proposed as 

against R s79.88bn of 2016-17. The 

development programme for the 

health sector is pitched at 

Rs15.50bn com-pared to Rs14bn 

for the current financial year. 

While for law and order budgetary 

allocation was proposed at 

Rs92.91bn, reflecting an increase of 

10pc over allocation of Rs84.26bn 

during the current financial year. 

The chief minister claimed that this 

was a tax-free budget with slight 

amendments in the Stamp Act, 

Registration Act and Sindh Sales 

Tax Act with the objective to widen 

the tax net. This will allow the 

government to generate an 

additional amount of Rs400 million. 

The CM said that Sales Tax on travel 

agents and tour operators was being 

reduced from 10pc to 8pc.The 

budget proposed to reduce SST on 

services provided by speciñc class 

of indenters and call centers from 

13pc to 3pc and from 8pc to 3pc on 

the services of renting immovable 

property services. 

Mr Shah told the 

house that the 

Sindh Revenue 

Board would be 

able to collect 

Rs78bn during the 

current financial 

year. For the next 

financial year, the 

target is being 

e n h a n c e d t o 

Rs100bn as per 

t h e S i n d h Ta x R e s o u r c e 

Mobilisation Plan. 

AGRICULTURE INCOME TAX: 

Mr Shah said at present Agriculture 

Income Tax collection stands at 

Rs393m. In consultation with 

leading agriculturists, farmers and 

parliamentarians, the target of this 

tax has been increased to Rs1bn for 

the next financial year. 

He said the federal government is 

the major contributor to Sindh`s 

finances comprising of 75pc in its 

entirety. 

ENERGY: The chief minister said 

that during 2016-17 the major 

achievements in the energy sector 

include setting up of 100 MW Sindh 

Nooriabad Power Company 

established through Public-Private 

Partnership. Sindh Transmission & 

Dispatch Company has been 

established. 132KV Double Circuit 

from Nooriabad to Karachi has been 

successfully laid for Rs1.95bn to 

supply 100MW to K-Electric and 

477MW of wind power has been 

added to the national grid. Total 

installed capacity of wind power 

projects now stands at 785MW. It 

will be enhanced to 1,085MW in the 

next financial year. 

ALTERNATIVE ENERGY: In the 

alternative energy sector, he said, 

some important projects, including 

35 wind power plants for 2,685MW 

power generation, 24 solar power 

plants of 1,500MW under IPP mode 

and two 24MW run of the river 

power generation projects, have 

been approved. 

TRANSPORT: Mr Shah said that 

the rehabilitation of Karachi 

Circular Railway has been included 

in the CPEC for $2.4bn. 

He said in 2017-18 for Green Line 

BRTS Bus operation and fare 

collection `integrated intelligent 

ticketing system` would be 

outsourced through PPP mode. 

Orange Line BRTS would be 

completed by September 2017. 

AGRICULTURE: The chief 

minister proposed to increase 

allocation for the agricultural sector 

from Rs 12.75bn to Rs 14.13bn. 

(Courtesy Dawn) 



Fedral Minister for Petroleum & Natural Resources Shahid Khaqan Abbasi; President, Karachi Chamber of Commerce & Industry (KCCI) 

Shamim Ahmed Firpo and Chairman, Pegasus, Aasim Siddiqui speaking at the inauguration ceremony of POGEE Exhibition at Expo Center 

Karachi. 

Federal Minister for Petroleum & 

Natural Resources, Shahid Khaqan 

Abbasi has inaugurated Pakistan Oil 

& Gas Energy Exhibition (POGEE) 

2017 at Expo Centre in Karachi 

recently. 

Federal Minister applauded the 

efforts of Aasim A. Siddiqui 

Chairman , Pegasus Consultancy and 

his team for organizing POGEE in a 

befitting manner for the last many 

years. He assured full support to 

Pegasus in their future exhibitions. 

More than 300 companies from 

around 30 countries participated in 

POGEE: 2017 

Federal Minister for Petroleum & Natural Resources 

Shahid Khaqan Abbasi Inaugurates POGEE 

300 Companies Participates 

the 15th International Exhibition for 

the Energy Industry 'POGEE-2017.' 

The state-of-the-art equipment, 

m a c h i n e r y, t e c h n o l o g i c a l 

advancement and innovative 

services were displayed at the 

( P O G E E ) . I t a t t r a c t e d 

approximately 8,000 to 10,000 

visitors hailing from oil, gas and 

energy sectors from cities such as 

Rawalpindi, Islamabad, Faisalabad, 

A Chronicle Report 

Sialkot, Gujranwala, Peshawar, 

Hyderabad, Ghotki, Muzaffargarh, 

Sheikhupura, Multan, Lahore and 

Karachi. 

Apart from Pakistan, companies 

from China, Germany, Italy, 

Canada, Denmark, Egypt, France, 

Hong Kong, Switzerland, Poland, 

Japan, Singapore, USA, Australia, 

South Korea, U.K., Slovakia, 

Special Message 

Mr. Aasim A. Siddiqui 

Chairman 

Pegasus Consultancy (Pvt.) Ltd. 

It gives me immense pleasure to 

extend a warm welcome to our local 

& i n t e r n a t i o n a l e x h i b i t o r s , 

participating at POGEE 2017, which 

is the most well-received annual 

energy exhibition held in Pakistan. 

POGEE not only showcases the 

world’s latest technology and 

equipment solutions but also offers 

local and international companies, an 

excellent opportunity to present their 

technologies, products and expertise 

to our other participants. Moreover, it 

serves as a significant platform of 

business cooperation between 

Pakistan and international business 

community. 

P a k i s t a n ’ s 

Energy Industry 

is experiencing 

growth with farr 

e a c h i n g 

contribution to 

the industrial 

manufacturing 

and Foreign Exchange earnings. Our 

government comprehends the pivotal 

role of robust energy supply and is 

doing its utmost to address the energy 

sector challenges. As a result of its 

concrete and sincere efforts, almost 

12% growth has been observed in real 

value addition of electricity 

generation & distribution. 

Moving on to Oil & Gas sector, the 

country’s leading exploration and 

production company has targeted to 

drill 25 new wells for Oil and Gas, 

during the current financial year, let’s 

shed light on overall growth of the 

country, which has successfully, 

attracted gigantic sum of $1.162 

billion on account of FDI. 

Year-on-year POGEE proves to be a 

very important vehicle to develop 

business, meet counterparts, present 

and exchange views on up-to-date 

t e c h n o l o g y, k n o w l e d g e a n d 

innovations within the energy 

industry. 

in the end, my sincerest appreciation 

goes to the respective ministries of the 

government of Pakistan and the 

various trade bodies of the energy 

sector of Pakistan for their constant 

support in making this event a success 

year after year. I wish POGEE 2017 

exhibitors, participants and visitors a 

successful and lucrative event. 



Belgium, Malaysia, Spain, Taiwan, 

Thailand, Sweden, Netherlands, 

Turkey and Saudi Arabia have 

participated in the exhibition . 

The Minister said that due to 

increasing power generation, there 

would be no power outages in the 

country after November, 2017. 

“More than 10,000 megawatt power 

will be added to the national grid next 

year and then Pakistan will be 

outage-free country after November 

2017,” he said. 

The Minster said the import of LNG 

would also help the country to 

overcome energy shortage issue. He 

said Pakistan would be the second 

largest LNG importing country in next 

three years with total import of 20 

million tons. 

He ruled out any wrongdoing in the 

agreements of China-Pakistan 

Economic Corridor (CPEC) project, 

saying that all the rumours in this 

Special Message 

Mr. Aamer Khanzada 

Managing Director 

Pegasus Consultancy (Pvt.) Ltd. 

It gives me great pleasures and honor 

to welcome all our exhibitors, 

visitors and distinguished guests to 

the 15th Edition of the International 

Energy Exhibition, POGEE - the 

largest international energy 

exhibition of the region. 

This year, we have showcased 

POGEE in business capital Karachi, 

where much of the country’s 

economic, manufacturing, services 

and other value additional take 

palace and which also enjoys the 

privilege as port city of the country. 

As the annual leading event of this 

country’s enegry industry, POGEE 

2017 has attracted over 270 exhibitors 

from 30 countries and regions around 

the world with a magnificent 

regards were uncalled for and contained 

no truth. He said CPEC agreement is 

transparent and has no grey areas. 

“Government is trying to maintain the 

petroleum prices, whenever they go 

higher and it is the top priority that the 

impact of soaring oil prices, should not 

be passed on to the consumers,” he said, 

adding that Pakistan is a country that 

imports oil and gas and bear a big cost 

on account of energy. 

Abbasi said Pakistan is now the 

second largest consumer of furnace 

oil, as its usage is being discouraged 

elsewhere in the world, due to the 

environmental issues. He said that in 

Pakistan, the emphasis on alternative 

energy is being given and solar energy 

sector is encouraged by declaring its 

import zero-rated. He said every 

country supports the solar energy and 

our government is also encouraging 

solar power. 

The chairman, Pegasus Consultancy, 

Aasim Siddiqui also spoke on the 

occasion. He said that the efforts by the 

exhibiting space of 

more than 1700 

sqm. , and earned 

wide regard as the 

largest enegry 

exhibition in the 

region. After 15 

y e a r s o f 

d e v e l o p m e n t , 

POGEE has become a highly 

recognized annual energy event in the 

industry. We appreciate all the support 

from domestic and overseas 

organizations. 

Energy is the lifeline of an economy 

and vital input to sustain industrial, 

commercial and domestic activities. 

Realziaing the imporatance of energy, 

our power sector to overcome its 

challenges. The government has also 

introudced investors’ friendly 

policies in the industry. The 

development of indigenous energy 

resourses, such as coal, hydro, 

alternative and renewable soucres, is 

critical for sustainable ecnomic 

growth, as envisaged in the Vision of 

present government for elimination of 

the menace of load-shedding are 

laudable. He said that many power 

plants are coming up and it is hoped 

that the nation would get rid of loadshedding 

by early 2018. He said his 

organization would continue its efforts 

in promoting the energy sector and 

bringing the latest machinery, 

technology and expertise in the 

country through POGEE. 

Managing Director, Pegasus, Aamer 

Khanzada said that Pegasus has given 

a new dimension and reform to the 

event organizing industry and 

Pegasus has revitalized opportunities 

for manufacturers and their related 

technology stakeholders, who have 

benefitted from the trade and 

investment channels operating in our 

vast and diversified business 

environment. He praised the 

government’s efforts for working on 

TAPI (Turkmenistan-Pakistan- 

Afghanistan-India) gas pipeline that 

is expected to be completed by 2019. 

He also lauded the FDI (foreign direct 

investment) to the tune of $1.2 billion 

Pakistan 2025. 

Pakistan is continuing its march from 

being frontier econmy to becoming an 

emerging market as it is eyeing 5.2 % 

GDP growth rate in 2017. The growth 

in econmy is evident and primarily 

inculcates investment soarign in 

enegry sector. Paksitan has 

successfully attracted foreign 

intersest in terms of $93 million (FDI) 

in the Oil % Gas exploration sector in 

current fiscal year. 

The promising futur of Pakistan does 

not limit itself just there and it takes 

real pride to share with you that, this 

year, the second highest foreign 

investment in the country was made in 

power sector expanding to $245.3 

million during last fiscal year. 

We believe POGEE will serve as a 

great platform for you to understand 

the industry, meet with business 

partners, imporve onsite cooperation 

and explore market opprtuinites. 

finally, I wish all of you a successful 

trade fair. 



POGEE 2017: Conference 

The exhibition has featured a 

highly-focused conference program 

that was aimed at bringing South 

Asia's energy industry into the 

limelight. The POGEE conference 

offered an excellent platform for 

exchange of views and information 

to the highly-targeted audience 

from oil, gas and energy industry. 

The International Conference was 

based on the theme 'paving ways to 

fulfill energy demands and supply.' 

The daylong conference was consist 

of two exclusive sessions on 

integration into energy system and 

the second session on future of coal 

& renewable energy resources in 

Pakistan. 

Eminent speakers from both local 

and international organizations and 

a s s o c i a t i o n s s u c h a s 

Schneider Electric, UAE, 

Solar Sigma Ltd (SSL) & 

S o l a r S i g m a G r o u p 

International, Malaysia, 

S i e m e n s P a k i s t a n 

Engineering Company Ltd, 

Oil And Gas Regulatory 

A u t h o r i t y ( O G R A ) , 

P a k i s t a n C o u n c i l o f 

R e n e w a b l e E n e r g y 

Technologies (PCRET), 

Energy Department, Government of 

S i n d h , P r i v a t e P o w e r a n d 

Infrastructure Board (PPIB), Centre 

for Coal Technologies, University 

of Punjab took part. 

The POGEE-2017 proved to be an 

ideal platform to display the latest 

technology, equipment and 

machinery as well as allied services, 

while providing investors with a 

definite outlook of the regional 

energy industry and an opportunity 

t o m e e t t h e i r p r o s p e c t i v e 

counterparts and business partners. 

The hosts of this recognized 

p l a t f o r m a n t i c i p a t e t h a t 

participation of each individual will 

benefit them and bring success in 

their businesses and enable the 

country to move a step forward 

towards its economic growth. 

Jang Group, Pegasus sign MoU 

for exhibition in September 

A memorandum of understanding 

(MoU) was signed between the Jang 

Group and the Pegasus Consultancy 

(Pvt) Ltd., whereby the Jang Group 

will be the media partners of 

Pegasus for an event, an exhibition 

to be held from September 8 to 10, 

2017, at the Expo Centre, in 

Karachi. 

The exhibition will feature 

electrical, electronic and consumer 

brands, plus household products on 

a single platform. 

Aamer Khanzada, managing 

director, Pegasus Consultancy (Pvt) 

Ltd., signed the MoU on behalf of 

his organisation, while Sarmad Ali 

of the Jang Group signed it on behalf 

of the media group. 

M/S Pegasus are among the leading 

event managing companies. They 

were the ones that organised one of 

Aamer Khanzada, Managing Director, Pegasus Consultancy (Pvt) Ltd, and Sarmad Ali of 

the Jang Group sign the MoU. 

the biggest exhibitions of the 

country, Ideas 2000, an expo 

featuring Pakistan-manufactured 

defence equipment. 

The accord was signed in the 

presence of Aasim Siddiqui, 

chairman, Pegasus Consultancy; 

Uzma Rizvi of the Jang Group and 

Danish Alvi, senior manager, Media 

& Communication, Pegasus. 

Talking to media, Alvi said 

Pakistan, with a population of 200 

million, was the sixth largest 

consumer base in the world, with an 

80 percent of its household 

consumption of its GDP. An 

increasing literacy rate and the 

vertical move of the poor into the 

m i d d l e c l a s s h a v e g i v e n 

consumerism a fillip and Pakistan 

m a k e s i d e a l g r o u n d f o r 

revolutionising modern living. there 

will be many side attractions at the 

event, like lucky draws, free return 

tickets, cash prizes, instant gift 

coupons, discount coupons, 

children’s fun area, food stalls and 

bumper prizes. The MoU signing 

took place at the offices of The 

News. 



PSO sets in motion its “New 

Convenience Retail Identity” for its 

fuel stations, as part of its recent 

initiatives towards continuous 

improvement and transformation. 

After taking the lead in introducing 

high quality performance fuels, 

Altron Premium, Altron X and 

Action +diesel (Euro II), PSO 

continues the journey of its Retail 

business transformation by 

rebranding its convenience retail 

identity ”Shop Stop” to broaden 

customer service scope. The Federal 

Minister for Petroleum and Natural 

Resources, Mr. Shahid Khaqan 

Abbasi, inaugurated the first 

remodeled facility at PSO's site, Al 

Askar PSO Fuel Station, Karachi. 

Commenting at the launch, Mr. 

Shahid Khaqan Abbasi said, “The 

i n i t i a t i v e i s r e f l e c t i v e o f 

government's policies aimed at 

bettering the lives of Pakistanis 

through the provision of quality 

products at competitive prices by 

deregulating the market and 

i n c r e a s i n g c o m p e t i t i v e 

environment. In this scenario 

Pakistan State Oil has played the 

role of extraordinary leadership. It is 

now continuously modernizing its 

offerings and customer service 

facilities in a highly competitive 

environment. This is being 

accomplished, despite the challenge 

Federal Minister for Petroleum & Natural Resources inaugurates 

PSO's “New Convenience Retail Identity” for its fuel stations 

o f c i r c u l a r 

d e b t ; m o r e 

over PSO is 

d e l i v e r i n g 

extraordinary 

g r o w t h i n 

profit. PSO's 

profit after tax 

has grown by 

2 0 8 % 

compared to 

last year. He 

further added 

that "MPNR is actively working 

with the ministry of water and 

power and the ministry of finance to 

resolve the issue of power sector 

outstandings of PSO so that, it can 

expeditiously embark on its much 

needed investment program to 

i m p r o v e t h e s u p p l y c h a i n 

infrastructure and enhance its role in 

the mid-stream sector." 

PSO MD, Mr. Sheikh Imran ul 

Haque stated, “The inauguration of 

this new identity of convenience 

store is a part of the company's plans 

to excel, not only in the fuelling 

business but also to diversify its 

non-fuel ventures”. He further 

elaborated that “this launch will be 

followed by more shops at other 

outlets in July with the number 

increasing every month thereafter. 

This is one of the many steps that 

contributes to the transformation of 

PSO's retail business. It is also our 

endeavor to ensure that during all 

these changes, PSO remains true to 

the foundations – to deliver 

products and services that are 

unparalleled in quality and 

accessible to all Pakistanis at its 

3600 + retail outlets. 

Head of New Initiatives, Mr. 

Murtaza Shaikh stated that “new 

products and services at our fuelling 

stations will be introduced 

nationwide including remodeled 

Shop Stops ,automated vending 

machines, quick-service-restaurants, 

financial solutions/services such as, 

branchless banking and microinsurance 

all under one roof. This all 

are part of the company's drive 

towards better serving the ever 

increasing needs and demands of 

customers. 

Asif Ikram elected 

MAP president 

Management Association of 

Pakistan (MAP) in its Executive 

C o m m i t t e e m e e t i n g , h e l d 

recently, elected Mr. Asif Ikram 

a s t h e P r e s i d e n t o f t h e 

Association for the year 2017- 

18. 

Mr. Amir Jamil Abbasi elected as 

Vice President, Mr. Sarmad Ali as 

H o n o r a r y 

Secretary and 

Mr. Talib S. 

K a r i m a s 

H o n o r a r y 

Treasurer. 

Syed Masood 

Hashmi, after 

s e r v i n g a s 

Mr. Asif Ikram 

President for (President – MAP) 

t w o y e a r s , 

stepped down. 

However, he would continue to 

Mr. Amir Jamil Abbasi 

(Vice President – MAP) 

Mr. Sarmad Ali 

(Honorary Secretary – MAP) 

serve on the Board of the 

Association. 



History of Cement Industry 

in Pakistan 

The cement industry in Pakistan has 

steadily progressed. Its history date 

back in 1921 when the first cement 

plant was established at WAH. By 

the grace of Almighty Allah, it is 

now meeting country demands as 

well as exporting it, to earn foreign 

exchange due to its certified quality. 

At the time of independence in 

1947, there were four cement 

factories with an installed capacity 

of 470,000 tonnes per annum. These 

units were located at Karachi, 

Rohri, Dandot and WAH. The major 

reason for the existence of this 

industry is the availability of the raw 

materials. Later, during the decade 

of 1948-58 the number of cement 

units increased to six. The State 

Cement Corporation of Pakistan, 

which was established in 1972, also 

played a critical role in development 

of cement industry. In1980s, 12 new 

plants established (7 by Private 

Sector and 5 by Govt). However, 

due to insufficient supply, country 

had to import cement from 1977 till 

1995. In 1990s private investors 

established Lucky Cement, Pioneer, 

Pakistan Slag (Grinding Unit), Fauji 

and Bestway and so on. From 1991 

to 2001, Industry Capacity 

increased from 8.9 mtpa to 16.1 

mtpa. Now it stands about 47 

million mtpa. 

Nationalization 

The industry was nationalized in 

1972 and the State Cement 

Corporation of Pakistan (SCCP) 

was established following the 

Economic Reforms Order, 1972. 

As a result of nationalization, a 

total of 10 cement units with an 

installed capacity of 2.8 million 

mtpa were transferred to the 

S C C P. W h i l e t h e c e m e n t 

industry was working under the 

Special Report on Cement Industry 

s t a t e c o n t r o l , t h e S C C P 

established five new units with 

an installed capacity of 1.8 

million mtpa. For the next fifteen 

years no new cement plant was 

established under the private 

sector, which resulted in acute 

shortage of cement in late 70s 

and early 80s. This gap was filled 

by the import of cement. Seven 

units were established in the 

p r i v a t e s e c t o r b e f o r e 

commencement of the process of 

privatization in 1991. 

TRADE CHRONICLE - May.~Jun. 2017 - Page # 17 

Privatization/ Deregulation 

As a part of its privatization policy, 

the Government of Pakistan, has 

privatized 8 cement plants since 

1992. Due to privatization the SCCP 

lost its control over the prices of the 

cement and as a result new cement 

plants were established under 

private sector. The units working 

under the SCCP control are old and 

reportedly inefficient using “wet 

process” whereas the units 

established in the private sector 

were new, efficient and use “dry 

process”. 

Installed Production Capacity as on May 2017 

A Chronicle Report


Pakistan: growth in local 

cement consumption unabated 

Pakistan's cement 

industry dispatches 

to domestic markets 

during May 2017 

stood at 3.399Mt 

c o m p a r e d t o 

3.065Mt during 

same month last 

year. 

The home market 

shows a healthy 

increase of 10.90 

per cent on YoY 

basis. However, 

exports during May 

2017 were 0.309Mt, 

against 0.558Mt 

during May 2016, 

showing a reduction 

of 44.58 per cent. 

Total dispatches 

(local and export) 

during May 2017 

w e r e 3 . 7 0 8 M t , 

compared to 3.623Mt during same 

month last year, showing an 

increase of 2.36 per cent. 

On cumulative basis, during the last 

11 months (July 2016 to May 

2 0 1 7 ) , d o m e s t i c c e m e n t 

consumption has increased by 

10.76 per cent to 37.589Mt, against 

35.523Mt of corresponding period 

last year. But cement exports 

declined by 21.27 per cent to only 

4.319Mt, during the same period, 

compared with 5.486Mt for the 

corresponding period last year. 

A l l P a k i s t a n C e m e n t 

Manufacturers Association 

(APCMA), in statement regretted 

that the government slapped undue 

additional taxes on cement in 

federal budget 2017-18. This 

increase may hurt the growth of the 

industry that has been posting 

healthy growth during last 18 

months. 

Pakistan Economic Survey forecasts growth in cement industry 

The performance of the Pakistan 

cement industry has been remained 

encouraging and recorded good 

growth in the fiscal year to-date. 

Going forward, the prospects 

continue to be bright, according to 

the recently-released Pakistan 

Economic Survey 2016-17, as the 

government identifies locations for 

future investment in the cement 

sector. 

The new survey, released recently, 

shows that growth in the cement 

sector has been underpinned by 

robust domestic demand, which 

has enabled local producers to 

increase capacity utilisation rates. 

The outlook remains positive due 

to the development of housing 

schemes and increased spending, 

along with anticipated China- 

Pakistan Economic Corridor 

(CPEC)-related projects. 

Locations for future investment 

In terms of areas for further 

investment, in the Mianwali district 

Pakistan FY18 budget 

'neutral' for cement industry 

Announcing its FY18 Budget, the 

Pakistan government has increased 

the allocation for its Public Sector 

Development Program (PSDP) and 

reduced corporate tax, but on the 

other hand Federal Excise Duty 

(FED) has been raised and no steps 

were taken to arrest dwindling 

cement exports. 

Finance Minister, Ishaq Dar, in his 

budget 2017-18 has proposed the 

a l l o c a t i o n o f P K R 1 0 0 1 b n 

(US$9.5bn) for the PSDP in FY17- 

18, of which 67 per cent will be 

dedicated to infrastructure projects. 

Meanwhile, FED has been 

increased from PKR1/bag to 

PKR1.25/bag. In addition, the Risk 

Sharing Guarantee Scheme will be 

in Punjab province, mineral 

resources of limestone, silica sand, 

fireclay, gypsum and rock salt are 

available for the establishment 

cement, glass, ceramic and 

chemical industrial plants. The 

Mianwali district also benefits 

from its strategic position near the 

CPEC route, which passes near 

Daud Khel-Kalabagh. Therefore, 

the establishment of a mineralbased 

industrial zone near the 

route's Daud-Khel interchange has 

been proposed. 

M o r e o v e r, f o l l o w i n g t h e 

completion of a study for the 

“delineation of positive and 

negative areas for installation of 

cement plants”, the directorate 

general of Mines & Minerals will 

offer solicited proposals and 

p r o c e s s a p p l i c a t i o n s f o r 

installations for new cement plants 

in the Salt Range in Punjab 

province to meet the demand of 

around 105Mt of cement in coming 

four years in wake of CPEC. 

launched to cater for rising housing 

demand which will provide 40 per 

cent credit guarantee covers to 

banks and other financial 

institutions. 

Local analysts have deemed the 

'budget' 

n e u t r a l 

f o r t h e 

c e m e n t 

industry, 

s t a t i n g 

t h a t 

increase in FED will ultimately be 

passed on to consumers. However, 

they caution that it will take time to 

pass on the increase due to existing 

pricing issues in the north of the 

country. Should local producers 

absorb the duty, earnings are 

expected to be affected by 8-9 per 

cent, they note. 



An update about expansion in cement industry 

P a k i s t a n l e a d i n g c e m e n t 

manufacturer and exporters are 

expanding their capacities in order 

to meet growing demands in the 

country. They managements 

anticipate increased domestic 

demand for cement on account of 

r i s e i n t h e P u b l i c S e c t o r 

Development Programme (PSDP) 

allocations together with robust 

construction activities in the private 

s e c t o r d u e t o u p b e a t 

macroeconomic picture and 

increased developments on China- 

Pakistan Economic Corridor 

(CPEC). 

Maple Leaf Cement (MLCF) 

MLCF's management has approved 

setting up of an additional line of 

7,300tpd grey clinker for enhancing 

grey cement capacity upto 

18,000tpd at the existing plant site 

Iskanderabad Distt. Mianwali, 

Punjab. The project is estimated to 

cost around PKR20bn with 

Commercial Operations Date of 

Dec 2018. 

D.G. Khan Cement Company 

Ltd. (DGKC) 

The erecting phase has started at 

Hub (South Cement Plant), having a 

capacity of 9,000tpd. It is slated to 

be completed at a cost of US$300m 

and is forecasted to come online in 

FY2018. The Board of DGKC has 

also initiated the process for 

setting up of a brown field project 

with a capacity of upto 2.2Mtpa 

clinker at DG Khan site. 

Pioneer Cement Ltd. (PIOC) 

PIOC is currently undertaking a 

project to boost its cement grinding 

capacity, in order to meet expected 

market demand. Order has been 

placed with a Chinese vendor for 

this project estimated at around 

PKR800m. The consequent 

additional capacity will become 

operational in 2HFY17. PIOC's 

management has recently signed a 

contract with a vendor for the supply 

of machinery, equipment etc for a 

new production line having capacity 

of 8,000tpd clinker supported by a 

12MW Coal Fired Power Plant to be 

installed at the existing site. 

Kohat Cement Company Ltd. 

(KOHC) 

Kohat Cement Company has 

informed PSX on June 06, that the 

Board of Directors of the Company, 

has decided to set up a Grey Cement 

Production Line at the existing Plant 

site, having cement production 

capacity of 7,800 tons per day along 

with a Waste Heat Recovery Power 

Plant. 

Attock Cement Pakistan Ltd. 

(ACPL) 

The Company is pursuing one 

project – Cement Grinding Unit in 

Basra, Iraq – and two projects 

within Pakistan (i) An ongoing 

expansion project (a) Place of New 

Plant: Hub, Balochistan; (b) 

Planned Clinker Capacity: 4,000tpd 

equivalent to 1.20Mty; (c) Project 

Va l u e : U S $ 1 2 0 m ; a n d ( d ) 

Completion Time: FY2018; and (ii) 

Installation of Coal Fired Power 

Plant – (a) Place: Hub, Balochistan; 

(b) Capacity: 40MW. 

Bestway Cement 

The country's largest producer, 

Bestway Cement, informed the 

Pakistan Stock Exchange in March 

2017 that it will set up a brownfield 

cement plant with a capacity of 

6000tpd clinker at its Farooqia site 

in northern Pakistan. 

Lucky Cement 

Lucky Cement has announced that it 

will expand its Karachi cement plant 

capacity by 1.25 million tons per 

annum to around five million tons at a 

cost of $30 million or Rs3.2 billion. 

This would be in addition to the 

earlier announced cement capacity 

expansion of 2.3 million tons per 

annum in Punjab region. 

Cherat Cement 

Cherat Cement the company has 

announced a third line, yielding 

expansion of some 2.34Mta. 

Pakistan cement exports 

continue to disappoint 

Pakistan exported 225,778t cement 

in April on revenues of US$13.49m, 

down 25.28 and 18.54 per cent, 

respectively compared to the 

previous month. Compared to April 

2016, export volumes were down by 

49.65 per cent from 507,958t and 

revenues fell by 49.65 per cent 

(US$26.31m) a year earlier, data 

from Pakistan's Federal Bureau of 

Statistics shows. 

In the first 10 months of FY16-17, 

the country exported 3.9Mt of 

cement at a total value of US$205m, 

considerably lower than the 5.06Mt 

a t U S $ 2 7 4 . 3 4 m i n t h e 

corresponding period of the 

previous year. This represents a YoY 

contraction of 22.91 and 25.27 per 

cent, in volume and value terms, 

respectively. Exports of cement also 

fell to US$52.51/t from US$54.18/t 

over the period. 

A breakdown of export figures 

shows that dispatches from Pakistan 

to Afghanistan were down by 29.11 

per cent to 1.49Mt, but exports to 

India rose by 43.78 per cent to 

1.051Mt. Exports via sea fell by 30 

per cent to 1.4Mt. 



DG Khan Cement 

History and ownership: 

DG Khan Cement Company 

Limited (DGKC) was established in 

Dera Ghazi Khan under the control 

of State Cement Corporation of 

Pakistan Limited (SCCP) in 1978 

and started manufacturing 

operations in 1986 with a 

production capacity of 2,000 tons 

per day (about 600,000 tons 

annually). The company was 

acquired by Nishat group in 1992 

after the government's privatization 

Lucky Cement 

Lucky Cement Limited (LCL) is one 

of the largest producers and leading 

exporters of quality cement in 

Pakistan, with a production capacity 

of 7.75 million tons per annum. The 

company is listed on Pakistan and 

London Stock Exchanges. 

Over the years, the Company has 

grown substantially and is 

expanding its business operations 

with production facilities at 

strategic locations in Karachi to 

scheme. 

In efforts to keep growing, more 

capacity was added through the 

years—going from 2,000 tons per 

day to 6,700 tons per day to later 

setting up a new plant in Khairpur 

with a capacity of 6,700 tons per day 

cater to the Southern regions, Pezu 

and Khyber Pakhtunkhwa to furnish 

the Northern areas of the country. 

Lucky Cement is Pakistan's first 

company to export sizeable 

quantities of loose cement being the 

only cement manufacturer to have 

its own loading and storage terminal 

at Karachi Port. Lucky Cement 

(approximately 2 million tons). 

Combined, the two plants have a 

capacity of 4.02 million tons 

annually, placing DG Khan in the 

nook of the other two cement giants 

today, Bestway and Lucky. 

The company has a gas fired plant 

with a capacity of 25.5MW, furnace 

oil fired plant (23.84MW), two 

waste heat recovery units (10.4MW 

and 8.6MW) and a dual fuel plant 

with a capacity of 33 MW. 

(Source: Company website/media) 

Limited has embarked on the 

journey of global expansion by 

setting up cement grinding facility 

in Basra, Iraq and a cement 

manufacturing plant in Democratic 

Republic of Congo (DRC). 

Furthermore, the company has 

diversified into power generation by 

investing in a 660 MW coal-based 

power project in Karachi. Also the 

acquisition of ICI Pakistan is 

another noteworthy move towards 

the expansion of Lucky Cement's 

industry portfolio. 




On its inauguration on 24th October 

1994,Askari Cement Limited, ACL 

was the first state of the art dry 

process cement plant of Pakistan 

d e s i g n e d , e r e c t e d a n d 

commissioned by the world 

renowned company FL Smidth of 

Denmark. However, ACL Wah 

brand was known to the people of 

Pakistan for its high quality cement 

since 1922 and the existing cement 

plant is the extension of the old 

cement plant. ACL Wah is part of the 

Fauji Foundation that is Pakistan's 

giant Industrial and welfare 

organization. 

ACL Wah is located at 40 minutes 

drive from the capital city and is the 

junction for Peshawar, Abbottabad 

and the western route of the 

upcoming CPEC. 

The production capacity of ACL 

Wah plant was initially 3000 tons 

per day clinker production, however 

later on the capacity was enhanced 

to 3500 tons per day clinker 

production. Raw mix designed is 

followed to proportionate the raw 

m a t e r i a l s w i t h t h e m o s t 

sophisticated Quality Control 

system QCX of FLS Automation. 

Kiln Feed is controlled with the 

LOW system after having proper 

Askari Cement: a symbol of trust 

among millions of consumers 

Askari Cement Limited (ACL) is 

one of the leading manufacturers of 

Cement in Pakistan with its two 

plants located at Wah, District 

R a w a l p i n d i ( P u n j a b ) a n d 

Nizampur, District Nowshera 

(KPK). It originated way back in 

1921 and since then has gained the 

trust of millions of consumers. 

homogenization of raw mix in the 

CF Silo. 

ACL Wah has always strived for 

modernization and optimization 

through BMR project so that 

sustainability and consistency is 

m a i n t a i n e d i n d e s i g n , 

maintenance, operation and 

Quality Control at all stages. 

Therefore, Askari Cement has the 

honour to be the first cement plant 

of Pakistan that acquired ISO 9001 

& ISO 14001. During 1999-2000 

when furnace oil prices were at 

peak, ACL Wah switched to Coal 

fired system at plant saving 

millions of foreign exchange. 

Taking further optimization and 

indigenous steps, ACL Wah 

started use of low price Afghan 

Coal to replace the imported 

Indonesian & South African coal. 

Presently, ACL Wah is using the 

blend of local & Afghan coal. 

ACL Wah has been used in almost 

all the mega projects of Pakistan 

including Turbela Dam, Mangla 

Dam,Warsak Dam, Ghazi Bharotha 

Dam, the Pakistan Motorways, 

projects of FWO, Nes Pak and 

housing sectors of Pakistan. The 

Chemical composition of the 

materials at ACL Wah has the 

unique low impurities that make the 

ACL Wah Cement the most popular 

name and choice number for 

domestic and institutional uses. 

Askari Cement Wah has provided 

the trained technical cement 

professionals to the cement 

industry of Pakistan and has always 

contributed to serve the nation. 

Askari Cement is also serving to 

the people of Wah through its 

Corporate Social Responsibility 

(CSR) program by arranging free 

eye camps, cricket tournaments, 

donation of cement to mosques, 

donation of fruit trees / plants, 

grant of monthly scholarships to 

b o y s a n d g i r l s s c h o o l s , 

installation of water hand pump, 

contribution of fans and furniture 

for government schools. 



A Profile of Askari Cement, 

Nizampur plant 

Askari Cement Limited (Nizampur) 

i s a d o u b l e l i n e d c e m e n t 

manufacturing plant located in 

Nizampur, District Nowshera 

(KPK). Conceived as a project of 

Army Welfare Trust (AWT), it was 

designed by M/s Tianjin Cement 

Design & Research institute, China 

and was supplied by M/s China 

Building Material Industrial 

Corporation (CBMC).Local 

Machinery was manufactured by 

Heavy Mechanical Complex 

( H M C ) Ta x i l a , P a k i s t a n . 

Construction of the Plant was 

started in 1993. Its first line of 2,000 

tons per day capacity was 

completed and started production in 

1996. Erection/installation of 

second line of 2,000 tons per day 

capacity was started in 1997 and its 

production was started with effect 

from 1st July 2003. Total Capacity 

of the plant has been enhanced by 

another 1,000 tons per day, by which 

the capacity comes to 5,000 tons per 

day w.e.f. February 2006. Another 

BMR project is recently undertaken 

in March 2017 to further enhance 

efficiency and cement production 

capacity of the plant. 

The plant was purchased by Askari 

Cement Limited from Army 

Welfare Trust on 30th July 2013. 

The Project has been acquired by 

AskariCement Limited prior to 

acquisition of the company by Fauji 

Foundation (FF) Group from AWT 

on 30th July 2013.Askari Cement 

Limited (Nizampur) is an ISO 9000 

Certified plant. Askari Cement 

brand, being the best quality 

cement, is preferred for construction 

of mega projects like dams, bridges, 

highways, commercial and 

industrial complexes and residential 

societies. Askari Cement has been 

used in all the major projects in the 

northern half such as Warsak Dam, 

Tarbela Dam, Mangla Dam, Simly 

Dam, FWO, NLC and Ghazi 

Barotha Concrete Channel. 

ACL (N) is flagship in use of low 

cost local coal as fuel. It is only 

c e m e n t p l a n t i n P a k i s t a n 

consistently using 100% local coal 

from last 03 years. Taking lead from 

ACL (N), contemporary cement 

plants in the region have also started 

to use local coal, which is not only a 

cost effective source of fuel but is 

also saving precious foreign 

exchange previously being spent on 

import of coal. The plant is not only 

depositing hundreds of million 

rupees in national exchequer as 

taxes and duties on cement but has 

also triggered new avenues of 

e m p l o y m e n t a n d r e v e n u e 

generation in KPK in the form of 

coal mining. 

Besides providing employment to 

hundreds of local families, ACL (N) 

is also serving remote region of 

Nizampur through its Corporate 

Social Responsibility (CSR) 

program by arranging free eye 

camps, cricket tournaments, 

donation of cement to mosques, 

donation of fruit trees / plants, grant 

of monthly scholarships to boys and 

girls schools, installation of water 

hand pump,contribution of fans and 

furniture for government schools. 



Bestway Group 

Bestway Cement Limited is part of 

the Bestway Group of the United 

Kingdom. It is the second largest 

cement producer in Pakistan and 

joint owner of Pakistan's third 

largest bank, United Bank Limited. 

Its rice milling facilities are one of 

the largest of its kind in the country. 

The group is the largest overseas 

Pakistani investor with investments 

in excess of US Dollars 1 billion and 

a global workforce of over 22,000 

people spread over four continents. 

Bestway Cement Hattar 

In 1994 work was started on the 

cement plant in the under developed 

area of Hattar, Haripur in the Khyber 

Pakhtunkhwa, Pakistan. This was an 

initial investment of US$120 

million. 

Mustehkam Cement 

To further extend its presence in the 

cement industry, Bestway bought 

85.29% of equity of Mustehkam 

Cement Ltd a 0.6 million tonnes per 

annum capacity plant, following an 

offering by the Privatisation 

Commission, Government of 

Pakistan. 

Bestway Cement Chakwal-II 

In May 2006 the Group announced 

plans for the establishment of a 

second 1.8 million tonnes per annum 

capacity plant adjacent to its 

existing operations in Chakwal at a 

cost of US$180.0 million. This 

would be an identical plant to the 

existing Line-1, having 1.8 million 

tonnes capacity. 

By the end of the first quarter of 

2008, through these investments, the 

Group's cement manufacturing 

capacity is set to exceed 6.0 million 

tonnes per annum, making Bestway 

the second largest cement producer 

in the country. 


Power Cement Limited 

Power Cement Limited, formerly 

Al Abbas Cement Industries 

L i m i t e d ( A A C I L ) w a s 

established in 1981 and went 

public in 1987, and 

was acquired by a 

consortium of Arif 

Habib Group and Al 

Abbas Group. It is now 

a subsidiary of Arif 

Habib Corporation 

Limited. The company 

is listed on the Pakistan Stock 

Exchange. The Power Cement 

plant is located in Nooribabad 

Industrial Area, Jamshoro with 

two production lines with a 

combined production capacity of 

3000 tons per day i.e. 900,000 

tons capturing about 2 percent of 

Maple Leaf Cement Factory 

Limited 

Part of Kohinoor Maple Leaf Group 

(KMLG), Maple Leaf Cement 

Company (MLCF) is a subsidiary of 

Kohinoor Textile Mills Limited 

(KTML) both of which are listed on 

the stock exchanges. The history of 

the company dates back to 1956 

when it was established by the West 

Pakistan Industrial Development 

Corporation (WPIDC) with a 

capacity of 300,000 tons clinker per 

annum. Another company, White 

Cement Industries Limited (WCIL) 

was formed in 1967 with a clinker 

capacity of 15,000 tons per annum. 

The two were combined in 1974 and 

transferred to newly established 

State Cement Corporation of 

Pakistan (SCCP). Later, SCCP set up 

another production company called 


the total cement production 

capacity today. The company 

caters to the southern market 

domestically and exports to South 

and East Africa, India, UAE and 

Afghanistan. 

The company is run 

by Kashif Habib as 

CEO, son of Arif 

H a b i b . W h i l e 

majority of the shares 

of the company are 

held by Arif Habib (29.5 percent) 

and 29 percent by International 

Complex Projects Ltd (the real 

estate developers that own 

Dolmen city), 17.8 percent of the 

shares of the company are held by 

general public as at June 2016. 


Pak Cement Company Limited 

(PCCL) with a capacity of 180,000 

tons per annum. The three companies 

were then privatized in 1992 and 

merged into Maple Leaf Cement. 

MLCF went public in 1994. 

Maple Leaf plants are located in 

Iskanderabad District, Mianwali. 

Currently, the company operates two 

production lines to produce grey and 

white cement; the company holds 90 

percent of the market share in the 

latter type of cement. With its current 

3.37 million tons of cement 

production capacity, the company's 

share in the industry capacity is about 

7 percent. 

The company has exports 

markets in Afghanistan; 

Gulf States; South Asia; 

Africa; Indian Ocean Island 

Republics; and Central 

Asia. 

(Source: Company website/media)


Flying Cement Company 

Limited 

Incorporated in 1992 as a public 

limited company, Flying Cement 

Attock Cement 

The journey of Attock Cement 

started from the year 1981 and the 

company started its commercial 

production in 1988. In 25 years, 

company has shown steady growth. 

ACPL has attained new peaks 

every year through strong team 

work, continuous modernization 

of plant to improve efficiency and 

with utmost hard work. ACPL has 

cemented its place not only in the 

local market but also in the regional 

markets through selling quality 

products. 


Company is one of the smaller 

cement manufacturing firms 

capturing a small share of the 

market. The company is investing in 

d o u b l i n g i t s p r o d u c t i o n 

capacity—with existing capacity of 

600,000 per annum—while also 

working on the efficiency of its 

plant and machinery, the market it 

will be able to reach would be 2 

percent over the next few years as 

the cement industry expands, and 

given this is the only development 

we see in the company’s future 

plans. 

Flying is located in the North, in 

District Khushab, in the heart of 

Punjab Province, and despite 

remaining shaky for several years, 

has gained a positive level of 

profitability and a growing outlook. 

Aside from its existing plant and the 

new upcoming expansion, Flying 

Cement has a fleet of eight (18 

wheeler) trucks that facilitate 

cement delivery and dispatch across 

the country. The company’s 

management also launched a grid 

station of 132/6.3 KVA for the 

production of electricity with a 

capacity to generate 24.8MW of 

power. (Source: Company website/media) 

Fauji Cement Company Limited 

(FCCL) 

Fauji Cement (FCCL) is 

currently in the top five 

within the cement sector 

incorporated in 1992, and 

rallying a capacity of 3.27 

million today. It started 

with a capacity of 3,150 

t o n s p e r d a y , 

approximately 945,000 

tons per annum. The company 

raised production in 2005 and 

introduced another production line 

in 2011 that together boasted 

production capacity to nearly 7 

percent of the market capacity 

today. 

The company’s plant is located in 

Jhang Bahtar, Punjab and caters to 

mainly the northern markets; also 

exporting to central and south 

A s i a n c o u n t r i e s 

including India and Sri 

Lanka. 

T h e c o m p a n y h a s 

adopted some measures 

to gain efficiency in 

energy consumption. In 

2009, a Refuse Derived 

Fuel Processing Plant 

was set up that gave cheaper source 

of fuel as well as allowed for better 

disposing of municipal waste. 

About 200-300 tons of refuse per 

day is used in the plant which 

produces compost fertilizer as a 

byproduct. The company also set 

up a 12 MW of Waste Heat 

Recovery (WHR) unit and started 

producing electricity in 2015. 




F e c t o C e m e n t L i m i t e d 

(FECTC) 

Fecto Cement Limited (FECTC) 

is part of the Fecto group that 

started its operations 

in 1952. 

F e c t o C e m e n t 

c o m m e n c e d 

production in 1990 at 

Sangjani, a location 

close to the capital 

and the northern markets for 

cement. The company’s plant was 

built by Fuller International Inc., 

USA with a total project cost of over 

Rs2 billion. The company has the 

current capacity of 780,000 tons of 

clinker and 819,000 tons of cement 

in production annually and holds 

about 2 percent of market share 

capacity wise making it one of the 

smaller cement players in the 

industry. 


Dewan Cement Limited (DCL) 

Dewan Cement Limited (DCL) was 

established after Pakland Cement 

Limited and Saadi Cement Limited 

were acquired by Yousuf Dewan 

Group in 2004, and merged in 2007. 

DCL boosts a capacity of 2.89 

million tons of cement and 2.76 

million tons of clinker with a market 

share of 6 percent. 

Tracing back the history, 

Pakland Cement Ltd. was 

established in 1981 with 

an initial capacity of 

300,000 tons and was fully 

operational by 1985, producing 

superior Ordinary Portland Cement. 

Sulphate Resisting Pakland was 

introduced in 1987. 

The company has two production 

facilities; one in southern Pakistan 

near Karachi at Deh Dhando, 

Dhabeji, Sindh and the other in 

northern Pakistan near Kamilpur 

Hattar Industrial Estate, District 

Hattar Khyber Pakhtunkhwa. 


Thatta Cement Company 

Limited (TCCL) 

Thatta Cement Company Limited, a 

subsidiary of the State Cement 

Corporation of Pakistan (Pvt.) 

Limited was incorporated in 1980, 

setting up its manufacturing facility 

in 1982. The plant was supplied by a 

Japanese company and had an 

installed capacity of 1,000 tons per 

day. The facility was privatized 

under the second privatization wave 

of 2000s, acquired by a consortium 

of Arif Habib group and Al-Abbas 

group. 

Subsequent to privatisation, the 

capacity was enhanced from 1000 

tons per day to 1,500 tons per day, 

and later converted its plant from 

furnace oil to multi fuel firing system 

Cherat Cement Company 

Limited (CHCC) 

Cherat Cement Company Limited 

(CHCC) was established in 1981 

with its plant located near the district 

of Nowshera. The company started 

with production of 1,100 tons per day 

in 1985 which was increased to 3,300 

tons per day in 2005 after subsequent 

up gradations earlier. 

The company today has an installed 

cement production capacity of 1 

million tons of clinker, and 1.1 

million tons of cement making it one 

of the smaller cement players in the 

industry with 2 percent market share. 

However, the company plans on 

installing another cement line at the 

same location with an annual clinker 

capacity of more than 1.3 million 

tons (4,200 tons per day), which 

would bring market share for Cherat 

up. 

(coal, gas and furnace oil). 

The company’s current production 

capacity is 450,000 tons annually 

which accounts for one percent of the 

market share. 

It exports markets primarily include 

Sri Lanka, India, Middle East and 

some African countries including 

Sudan. 


The company commissioned its first 

Waste Heat Recovery (WHR) for 

power generation in 2010, a Tyre 

Derived Fuel Processing Plant in 

2012 and a Refuse Derived Fuel 

Processing Plant in 2013 to boost 

energy efficiency by using 

alternative fuel, generating one-third 

of its electricity free of cost. 

Cherat Cement is a Ghulam Faruque 

Group (GFG) Company that held 20 

percent of its shares as at June 2015. 

Work on the expansion of second 

production capacity is in progress 

and the new line was expected to be 

commissioned by early 2017. The 

Company has also placed an order 

for a WHR plant 

(worth Rs1 billion) 

t h a t w o u l d b e 

functional for the 

second line. 

(Source: Company 

website/media) 



Fertiliser manufacturers have 

asked the government to 

extend the urea export 

deadline until December 

2017 to be able to get rid of 

their surplus production. 

“We urged the government to 

extend the deadline in April, 

but they haven’t responded,” 

Engro Fertilizers Limited 

CEO Ruhail Mohammed said in a 

company statement recently. 

The government had allowed local 

manufacturers to export 300,000 

tons of urea by the end of April 2017. 

At the end of the first quarter of 

calendar year 2017, only Engro 

Fertilizers had exported the urea to 

Engro Polymer launches 

community health campaign 

As part of CSR strategy, Engro 

Polymer & Chemicals has started a 

Community Health Campaign with 

the aim at improving health 

conditions of poor communities by 

o r g a n i s i n g f r e e 

h e a l t h / m e d i c a l 

c h e c k u p c a m p s 

regularly throughout 

the year on different 

d i s e a s e s l i k e , 

Maternal & Neonatal 

Health/Nutrition, Eye, Skin, 

Diabetes, Free Blood Tests, Bone 

Mass Density, Hypertension & 

Dental issues etc. The first medical 

camp was organised by Engro 

Polymer with a professional medical 

team of Sehat Kahani-specialized in 

female healthcare services provider, 

catering 11 doctors, gynaecologist & 

ultrasound technicians for the 

community/villagers of Ghaghar 

Phattak, National Highway. 

The medical camp was inaugurated 

by Jahangir Waheed - Vice 

Company News 

Eastern Africa 

r e g i o n a t a n 

estimated Freight 

on Board (FOB) 

price of $230-240 

per ton. 

Local producers 

are looking at 

e x p o r t 

opportunities in 

various regions including East 

Africa, Afghanistan and India 

amongst others. The international 

urea prices are expected to remain 

under pressure after a short-lived 

relief at the beginning of the year 

due to increase in demand from 

North America ahead of corn 

season in the region, according to 

President Manufacturing (EPCL) 

along with local community 

leaders. Apart from conducting 

free medical checkup free 

ultrasound facility was also 

provided to the community 

patients. Medical team also guided 

them about best practices to 

improve mother and 

child health and to 

p r e v e n t s e v e r a l 

d i s e a s e s . 

Approximately 300 

p a t i e n t s w e r e 

benefitted with free 

medical checkup while 125 

patients were provided free 

ultrasound facility. 

These health camps in the remote 

and poor localities like villages of 

Ghaghar Phattak area will not only 

create awareness amongst the 

community about preventive 

measure to counter different 

diseases but would also analyze the 

trend of the diseases to plan the long 

term health strategy to improve 

community health conditions. 

CEO of Engro Fertilizers wants 

extension in export deadline 

a Taurus Securities report. 

“There is no reason to panic if the 

government allows the export of 

500,000 tons to 600,000 tons of 

surplus urea. At present, the industry 

has an inventory of about 1.5 million 

tons of urea,” said Ruhail 

Mohammed. He added that the urea 

demand is expected to remain 

similar to last year or around 5.5-5.6 

million tons by the end of this year. 

Farmer economics improved in 

2016 compared to 2015 and the 

situation is expected to remain the 

same in 2017 which would keep the 

urea demand flat, he added. 

PPL: Kandhkot 

gas sales increases 

In line with its commitment to 

Government of Pakistan to 

enhance gas production, Pakistan 

Petroleum Limited (PPL) achieved 

a breakthrough by increasing gas 

from Kandhkot Gas Field (KGF) to 

230mmscfd ahead of time and is 

ready to ramp it up further to 

250mmscfd when required. 

The field was earlier 

supplying an average of 

180mmscfd gas to Guddu 

Thermal Power Station. 

The company has plans to 

drill seven development 

wells in KGF during this 

year. 

PPL has recently increased 

production through optimizing 

r e s e r v e s r e p l a c e m e n t a n d 

development efforts from mature 

fields, including Sui, Kandhkot 

and Adhi, notably achieving a 

major milestone of net production 

crossing the 1 bcfe/day. 



People & Events 

Yousaf Acting President 

of Faysal Bank 

The board of 

directors in its 

meeting held 

recently, has 

a p p o i n t e d 

Y o u s a f 

Hussain, Senior Executive Vice 

President (SEVP) and Chief Risk 

Officer FABL as the acting CEO of 

Faysal Bank subject to regulatory 

approvals. 

Newly appointed acting president 

Yousaf Hussain, having over 22- 

year of professional experience, is 

working with Faysal Bank since 

August 2008. 

Bawany takes over as 

DG NAB Karachi 

Mohammad Altaf Bawany has 

assumed the charge of Director 

General, National Accountability 

Bureau (NAB), Karachi. 

After taking over as DG, Bawany 

spoke to his 

officers and 

told them that 

NAB Karachi 

would make 

efforts to its 

m a x i m u m 

l e v e l t o 

e r a d i c a t e 

c o r r u p t i o n 

f r o m t h e 

society acting 

u p o n z e r o 

tolerance policy, in this regard. He 

urged the officers at the NAB 

Karachi to perform their official 

duties professionally with the 

realization that eradication of 

corruption was their national duty. 

Jameel made SBP’s 

deputy governor 

The federal government has 

appointed Jameel Ahmad, 

presently working as Executive 

Director, State Bank of Pakistan, as 

deputy governor, SBP for a period 

of three years with effect from 11th 

April, 2017. Jameel's illustrious 

career as an 

accomplished 

central banker 

spans over 26 

years working 

a t s e n i o r 

positions at the 

State Bank of 

Pakistan and the Saudi Arabian 

Monetary Agency (SAMA). 

Prior to his appointment as deputy 

governor, he was serving as 

Executive Director, Banking 

Supervision Group and Financial 

Stability. He has also served as 

Group Head, the Operations, 

Banking Policy & Regulations, 

Development Finance, and 

Financial Resource Management. 

Jameel is a member of SBP's 

Monetary Policy Committee and 

various other management 

committees of the bank. 

Atiq Ahmed Kochra appointed Head of 

FPCCI's Committee on 

Light Mechanical Industry 

P r e s i d e n t , 

Federation of 

P a k i s t a n 

C h a m b e r s o f 

Commerce and 

Industry (FPCCI) 

Zubair F Tufail 

has appointed 

Atiq Ahmed Kochra, Chairman 

of FPCCI's Standing Committee 

on Light Mechanical Industry for 

the year 2017. 

Saleem assumes 

additional charge as PIO 

Senior Officer of 

M i n i s t r y o f 

I n f o r m a t i o n , 

Broadcasting and 

N a t i o n a l 

H e r i t a g e , 

Director General, 

Directorate of 

Electronic Media and Publications 

(DEMP) Muhammad Saleem has 

assumed additional charge as 

Principal Information Officer (PIO), 

Press Information Department. 

An office order issued recently said, 

Muhammad Saleem has been 

assigned to look after the 

responsibilities of DG/PIO, PID, 

Islamabad, in addition to his own 

duties, with immediate effect and 

until further orders. 

Meanwhile Nuzhat Yasmin, Press 

Registrar, I&B Division has been 

transferred as Director General (PR) 

Regional Information Office, PID 

vice Mian Janangir Iqbal, who has 

been transferred as DG Cyber Wing, 

while I&B Division vice Naila 

Maqsood has been appointed as 

Press Registrar, I&B Division. 

Tariq Mehmood made 

Secretary Interior 

According to the 

s p o k e s m a n o f 

Ministry of Interior, 

A d d i t i o n a l 

Secretary Interior 

Tariq Mehmood 

Khan has been given 

t h e c h a r g e o f 

secretary interior 

and the Prime Minister has 

formally approved it. 



NHA Executive Board meets 

The Executive Board of the National 

Highway Authority (NHA), approved 

award of work for Rehmani Khel to Kot 

Belian section (Package 2A) on the 

Western Route of China-Pakistan 

Economic Corridor (CPEC) during a 

meeting held at NHA head office 

recently with Chairman Shahid Ashraf 

Tarar in the chair. 

The approved project forms an 

i m p o r t a n t s e c t i o n o f H a k l a - 

D.I.Khan Motorway and was 

awarded to the lowest evaluated 

bidder, a joint venture (JV) of M/s 

SKB & M/s KNK at their evaluated 

bid price of Rs. 9.232 billion. 

Chairman, National Highway Authority Mr. Shahid Ashraf Tarar presiding over the NHA’s 

Executive Board Meeting. 

The Chairman NHA informed the 

meeting that timely completion of the 

western route of CPEC was among top 

priorities. 

Federal Secretary Communications Mr. Shahid Ashraf Tarar and Country Director Asian 

Development Bank (ADB) Ms. Xiaohong Yang addressing Seminar on “Road Management: 

Enabling economic corridors through sustainable transport sector devlopment”. 

Pakistan gets first 

female ADB head 

The Asian Development Bank has 

appointed Ms Xiaohong Yang as the 

first woman country director for 

Pakistan. 

The appointment of a Chinese national 

reflects ADB’s support to the country’s 

development goals through initiatives, 

such as China-Pakistan Economic 

Corridor and the Central Asian 

Regional Cooperation (CAREC). 

After assuming charge Ms Yang said 

Pakistan has a fast improving economy 

led by a youthful and dynamic 

workforce. Ms Yang’s professional 

experience in development spans over 

three decades, 

during which she 

managed complex 

infrastructurer 

e l a t e d 

a s s i g n m e n t s 

covering a diverse 

portfolio including highways, railways, 

waterways, cross border logistics 

p r o j e c t s a n d p u b l i c - p r i v a t e 

partnerships. 

Leader of the Business Community and 

f o r m e r P r e s i d e n t F P C C I 

Mr.S.M.Muneer said that Canada’s halal 

food market is currently estimated to be 

a $1 billion industry, and the demand for 

halal options has increased along with 

Canada’s Muslim population, which 

grew 82 per cent over the last decade, 

and is expected to triple by 2031. This 

was stated at the event organised by 

President Universal Promotion, 

Mr.Amir Shamsi. At the occasion 

Pakistani Consul General in Toronto 

Mr.Imran Siddiqui, President Flato 

Mr.Shakir Rehamatullah, Mr.Qamar 

Kem Siddiqui , Mr.Aftab Rizvi, 

Mr.Navaid Bukhari , Mr.Muqaddam 

Khan and others were also present. 

S.M.Muneer is very positive about 

upcoming 4th largest Mississauga Halal 

Foods festival in Canada .He hopes that 

it will help to capture Halal food 

industry in North American Market and 

will enhance its export . 

Canada’s halal food market is currently 

estimated to be a $1 billion industry 

Mr.Amir Shamsi hosted dinner in the honour of Mr.S.M.Muneer. Seen in the picture are 

Mr.Imran Siddiqui; Mr.Shakir Rehmatullah; Mr.Qamar Kem Siddqui; Mr.Navaid Bukhari; 

Mr.Aftab Rizvi; Mr.Javed Mughal; Mr.Aftab Shamsi; Mr.Muqadam Khan and others. 

Mr.Amir Shamsi President Universal 

Promotion said that upcoming 4th 

Mississauga Halal Food Festival will be 

held on 20th May, 2017 at Celebration 

Center, Square One, Canada.This event 

will reflect the increase in demand for 

halal products and will show that event 

will become a destination for people 

looking to sample and learn about halal 

food options in Canada. 

He said that Mississauga Halal Food 

Festival is a celebration of Toronto’s 

diverse and delicious food trends and he 

wants to share this experience with the 

community. 



Thar power projects to be completed 

ahead of schedule 

Thar coal mining and 660MW power project in Thar 

Block II will be completed ahead of the scheduled 

rd 

time, the commissioning date is set at 3 June 2019, 

said the Sindh Engro Coal Mining Company 

(SECMC) Chief, Shamsuddin Ahmed Shaikh in a 

statement recently. 

“Despite declaring Gorano reservoir project 

technically and environmentally sound by the judicial 

committee of Sindh High Court, we are ready to talk 

with the protesters to remove their concerns which 

were created by misinformation”, he was addressing 

to an Iftar Dinner ceremony held in Mithi the other 

evening. 

Mrs. Sadia Rashid, President Hamdard Foundation Pakistan, is giving award 

on Best Documentary Feature at Film Festival Award Ceremony. Mr. Farrukh 

Imdad, Director General, Hamdard Foundation Pakistan is also present on 

Sharing the details of the coal mining project, Mr. 

Shaikh said that the company has achieved 40 percent 

of mining and 33 percent progress on the power 

projects in 15 months after the financial closure 

achieved in April 2016. 

“The total duration envisaged for completion of the 

project was set at 42 months, but the pace of the work 

ensures us of its completion in 38 months instead,” he 

added. He asserted that he strongly believes that 

benefits from the coal projects in Thar should go to the 

locals of Thar before the rest of the country and, that's 

why, he added, the company has started interventions 

in education, health, livelihood, and drinking water 

sectors for the people of the area – and the schemes 

have already started benefiting the locales. 

Member of Sindh Assembly from district Tharparkar, 

Dr. Mahesh Malani said that Thar Coal Block II 

project is one of the largest of the energy schemes of 

Pakistan and it is a blessing for the people of Thar. Dr. 

Malani assured that Sindh Government through its 

elected representatives is ready to guarantee that no 

damage would occur to the locales living around the 

Gorrano Reservoir. He also said that the government 

was considering a package for the Gorrano 

community which would be announced soon. 

Addressing the question pertaining to the 

technicalities of the Gorrano reservoir, he said that the 

feasibility study has been prepared by the reputable 

international firms and it is in no one's favour to 

challenge their reports which have been carefully 

drafted after comprehensive research considering all 

aspects. 

He said that contrary to the misconception spread by 

certain elements, the project shall benefit the Thar and 

Tharis on a large scale which would surely change the 

face of the area from being a poverty-stricken to a 

prosperous region. 

Mr. Usama Qureshi, Managing Director & CEO, Hamdard Laboratories Waqf 

Pakistan is giving interview, on the occasion of launching ceremony of ARY FILM 

Festival at a local hotel. 

Mrs. Sadia Rashid, 

President, Hamdard 

Foundation Pakistan 

along with Usama 

Qureshi, Managing 

Director and CEO, 

H a m d a r d 

Laboratories (Waqf) 

Pakistan, distributing 

Ramadan ration bags 

among the poor and 

the needy at Al- 

M a j i d H a m d a rd 

Centre, Nazimabad, 

Karachi. 



Shahid Afridi, Thar Foundation 

inks MoU for Thar’s social uplift 

planned to construct up to 50 Solar 

RO Plants that include pretreatment 

and mineralization units 

With an aim to make sustainable and 

productive social interventions in 

one of the poorest districts of 

Pakistan, the Thar Foundation (TF) 

and Shahid Afridi Foundation 

(SAF) has formally entered into an 

agreement to work together in the 

areas of health, education and 

d r i n k i n g w a t e r. B o t h t h e 

organizations will work together in 

establishing and running schools, 

hospitals and build safe drinking 

water infrastructures in targeted 

areas of Tharparkar district in Sindh 

province. 

In this connection, a Memorandum 

of Understanding (MoU) was 

signed by Chief Executive Officer 

(CEO) of TF Shamsuddin A. Shaikh 

and Advisor to SAF, Zeeshan Afzal 

at a ceremony held recently. The 

MoU was co-signed by Engro 

President, Ghias Khan and SAF 

chief Shahid Afridi. 

According to the collaboration 

agreed between two entities in the 

health sector, TF has planned to 

construct a 100 bed, state-of-the-art 

hospital in Islamkot to be managed 

by the Indus Hospital. SAF will 

sponsor the construction of Mother 

and Child Block, which shall be 

named as ‘Shahid Afridi Foundation 

Block’. 

In the drinking water sector, TF has 

a l o n g w i t h o p e r a t i o n a n d 

maintenance cost, whereas SAF 

will sponsor the construction of as 

many RO Plants as possible. 

In the education sector, TF will 

build 8 schools one each in Taulka 

of district Tharparkar and shall be 

run through The Citizen Foundation 

(TCF), whereas SAF has shown an 

intent and willingness to consider 

sponsoring one of the TCF schools. 

Mr. Alamgir Firoz, Chairman, FPCCI Standing 

Committee on Diplomatic Affairs welcomed Mr. Atadjan 

Movlamov, Ambassador of Turkmenistan at Federation 

of Pakistan Chambers of Commerce and Industry; and 

stated that PM Nawaz Sharif and Turkmenistan 

President signed trade MOUs and PM Nawaz Sharif 

declared that “Pakistan's priority is to expand trade and 

economic relations" and Turkmenistan President said 

that " both countries share similar views on regional 

peace and stability".Mr. Yaqub Tabani, Mr. Maher Alam 

Khan & others attended the meeting. Photo shows chief 

guest is receiving FPCCI ‘s crest. 

Seen in the picture, Engro Powergen Thar Limited 

(EPTL) CEO, Ahsan Zafar Syed and PESSDCC 

CEO Brig (Retd) Raja Muhammad Ali after signing 

an agreement to execute 3-year diploma course for 

associate engineers. 

TRADE CHRONICLE- May.~Jun. 2017 - Page # 30


Commercial Counsellor of 

Vietnam visites KATI 

Commercial Counsellor and 

Head of Trade mission of 

Vietnam Nguyen Hong Tien has 

said that bilateral trade of 

Pakistan and Vietnam can be 

promoted by strengthening 

business to business contact 

b e t w e e n t h e b u s i n e s s 

communities of both countries. 

He was talking to a meeting 

during his visit to Korangi 

Association of Trade & Industry 

(KATI). On this occasion 

President of KATI Masood Naqi 

has welcomed the Counsellor 

and briefed him about the scope 

of industry in Korangi Industrial 

Area. 

He said that many of industries 

were being relocated to 

Vietnam from Japan, China and 

other countries due to low cost 

and other factors. Masood Naqi 

said still some sectors are 

available in Pakistan where we 

can explore a lot of opportunity 

to relocation of industry and 

there is a wide scope of 

investment for investors of 

both countries. Head of KATI's 

committee on Diplomatic 

affairs Danish Khan also 

welcomed the commercial 

counsellor of Vietnam and 

urged to enhance bilateral trade 

relation of both countries. He 

said that Senior Vice President 

of KATI Ghazanfar Ali Khan is 

playing remarkable role for 

strengthening trade relation 

between Pakistan and Vietnam. 

Senior Vice President of KATI, 

Ghazanfar Ali Khan also briefed 

about the opportunities and 

mutual efforts for trade and 

business enhancement between 

both countries. 

President Karachi Chamber of Commerce & Industry (KCCI) Shamim Ahmed Firpo presenting 

Chamber’s crest to Honourable Governor Sindh Mohammad Zubair, during his visit to KCCI. 

Chairman Businessmen Group and Former President KCCI Siraj Kassam Teli; Vice Chairmen 

BMG, Tahir Khaliq, Haroon Farooki and Anjum Nisar, Principal Secretary to Governor Sindh 

Muhammad Sueleh Ahmad Farooqui, Senior Vice President KCCI, Asif Nisar, Vice President 

KCCI, Muhammad Younus Soomro and former Presidents KCCI A.Q. Khalil and Younus M. 

Bashir are also present at the picture. 

Mr. Zubair F. Tufail, President FPCCI is Presenting FPCCI Crest to Mr. Muhammad Zubair, 

Governor Sindh. Mr. S. M. Muneer, Former CE TDAP and Former President FPCCI, Mr. Amir 

Ata Bajwa, Senior Vice President FPCCI, Mirza Ishtiaq Baig and Mr. Saqib Fayyaz Magoon, 

Vice Presidents FPCCI also seen in the picture. 

Mr. Zubair F. Tufail, President FPCCI is presenting FPCCI Crest to Mrs. Jeanette, 

Ambassador of Netherland. Mr. Aamer Ata Bajwa, Senior Vice President FPCCI, Mr. 

All Hajj Dhani Bukhuh Memon, Vice President FPCCI, Mr. Alamgir Firoz, Chairman 

Diplomatic Affairs FPCCI, Mr. Salman Tufail, Senior Vice Chairman Diplomatic 

Affairs FPCCI, Mr. Kamal A. Mehmoodi, Mr. Waseem Wohra and others also seen in 

the picture. 

Mrs. Syed Naseem Ahmad cutting the ribbon of 26th Annual Eid Card Competition at Bait al 

Hikmah, Karachi,organized by Hamdard Public School & Hamdard Village School. Mrs. Sadia 

Rashid, President Hamdard Foundation Pakistan, Prof. Dr. Hakim Abdul Hannan,Vice 

Chancellor HU, Dr. Khalid Nasim, administrator HPS, Syed Naseem Ahmad and Mehreen 

Masud are present on the occasion. 



Karamat Chughtai appointed 

COO Adetude Advertising 

Karamat Ali Chughtai having 

extensive experience and 

knowledge of 

a d v e r t i s i n g 

industry has been 

a p p o i n t e d a s 

Chief Operating 

O f f i c e r a t 

A d e t u d e 

Advertising Pvt (Ltd). 

Chughtai has a well-proven 

background of serving in various 

advertising agencies for 30 years. 

He has already pledged to play his 

role untiringly and accordingly 

through opportunities and 

challenges lying ahead. 

His acquaintances and wellwishers 

have felicitated and also 

wished him good luck for his 

future endeavours. 

Sima Kamil becomes 

President & CEO UBL 

Sima Kamil has assumed the role 

of President & CEO UBL on June 

1. she joined UBL as Deputy 

CEO on 28 March 2017. 

Sima started her career at 

American Express Bank and 

went on to work at ANZ 

G r i n d l a y s a n d S t a n d a r d 

Chartered. She served at Habib 

Bank for the last 16 years. 

She is also the Chair of the Board 

of Governors of Karachi 

Grammar School and on the 

Board of the NotreDame Institute 

of Education. She has a degree in 

b u s i n e s s f r o m K i n g s t o n 

University, UK, and an MBA 

from City University, London. 

She is the first woman to head a 

major commercial Bank in 

Pakistan's 70-year history. 

Mr. Zubair F. Tufail, President FPCCI is Presenting FPCCI crest to Maj General Muhammad 

Saeed, Director General, Pakistan Rangers (Sindh). Mr. S.M. Muneer, former CE TDAP and 

former President FPCCI, Mirza Ishtiaq Baig, Mr. Saqib Fayyaz Magoon, Vice Presidents 

FPCCI, Mr. Nadeem Khan, Chairman FPCCI SC on Law & Order, Sheikh Khalid Tawab, 

Former Senior Vice President FPCCI, Dr. Mirza Ikhtiar Baig, Mr. Salman Tufail, Eng. M. A. 

Jabbar, Shakeel Ahmed Dhingra and others also seen in the picture. 

Chairman Businessmen Group and former President Karachi Chamber of Commerce & 

Industry (KCCI) Siraj Kassam Teli and President KCCI Shamim Ahmed Firpo presenting 

Chamber’s crest to Head of Commercial for Pakistan, U.S. Department of Commerce, Mr. Steve 

Knode during his visit to KCCI. Vice Chairman BMG and former President KCCI Haroon 

Farooki, Senior Vice President KCCI Asif Nisar, Vice President Muhammad Younus Soomro, 

Tashfeen Mehdi, Malik Atiq and Members of Managing Committee KCCI are also present at the 

picture. 

Al Hajj Dhani Bukhsh Memon, acting President FPCCI is presenting FPCCI Crest to Mr. Nisar 

Ahmed Khuhro, Senior Minister Sindh. Syed Nasir Hussain Shah, Minister Transport & Mass 

Transit, Senator Ilyas Ahmed Bilor, Gulzar Firoz, Mirza Ikhtiar Baig, Mumtaz Sheikh, Eng, 

Jabbar and Shakeel Ahmed Dhingra also seen in the picture. 

K-Electric has signed a 25-year Energy Purchase Agreement (EPA) for the 50MW solar power project with 

Oursun Pakistan Limited. The agreement was signed by Tayyab Tareen, Chief Executive Officer, K-Electric 

and Nadeem Babar, Chief Executive Officer, Oursun Pakistan Limited during a ceremony held at the KE 

House, being developed at Gharo, District Thatta, the solar photovoltaic (PV) project is spread over an area 

of 144 acres and is expected to commence commercial operation during the second quarter of 2018. 



Ports & Shipping 

Pakistan's first Mechanized Coal/Clinker 

Cargo Terminal Handles 81,000 Tons Coal Ships 

Pakistan's first state-of-the-art 

mechanized, coal, clinker and 

cement bulk cargo terminal at Port 

Qasim has commenced its hot 

commissioning to become fully 

operational and achieved a 

significant milestone by handling 

the first coal cargo vessel of 

41,000 tons to call the Terminal. 

T h e S h i p M V A F R I C A N 

FINFOOT which was 200 meter 

long and 32 Meters wide, with a 

Dead Weight Ton (DWT) of 

61,219MT and a maximum draft 

of 12.5 meters transported the coal 

cargo of 41,510 metric tons 

belonging to Awan Trading (Pvt) 

Ltd, at PIBTL Terminal at Port 

Qasim this recently. 

PIBTL is a public listed company 

quoted on Pakistan Stock 

Exchange and is sponsored by the 

Marine Group of Companies and 

also partly financed by the 

International Finance Corporation 

(IFC), the private sector arm of the 

World Bank Group. The company 

has invested around 

US$ 285 million in 

the establishment of 

the county's first and 

only common user 

Coal, Cement and 

Clinker handling 

terminal at Port 

Qasim. 

PIBTL, under a 30 year BOT 

agreement with Port Qasim 

Authority, has built its own jetty 

and is equipped with two coal ship 

unloading cranes and one 

cement/clinker loading crane. 

PIBT is capable of handling 12 

million tons of cargo per annum 

and has a storage yard spread on 62 

acres. 

The second coal vessel named 

MV IRIS OLDENDORFF has 

also docked at PIBTL recently, 

carrying 39,550 metric tons of 

coal with a DWT of 63,453 

metric tons and the cargo 

handling activities have already 

been commenced. 

A coal cargo ship with similar 

tonnage of cargo currently takes 

around seven days at KPT while 

the same cargo can be handled 

within two days at PIBTL due to 

the modern and mechanized 

handling system. 

A fully operational PIBTL will 

b r i n g e f f e c t i v e n e s s a n d 

efficiencies for the port sector as 

well as for the trade and industry to 

match Pakistan's port throughputs 

with the international standards of 

excellence. PIBTL will not only be 

easing off the existing port 

congestions at KPT and PQA but 

a l s o b e m i t i g a t i n g t h e 

environmental and efficiency 

concerns. 

Hutchison Ports Pakistan sets 

new vessel handling record 

Hutchison Ports Pakistan, the 

country's first deep-water 

container terminal, has received 

the first call of the Hyundai 

Splendour, the largest container 

ship to have ever visited the 

terminal. 

During the 8,600-TEU vessel's 

stay, the terminal set a new 

productivity record for Karachi, 

handling 3,191 moves in just over 

23 hours, or 140.18 moves per 

hour. A total of 4,296 TEUs were 

handled. 

The terminal operator broke its 

own previous record of 129 

container moves per hour, 

achieved during the call of the 

6,200 TEU MSC Lucy on 17 

January 2017. The port has already 

broken its productivity record 

twice since starting test operations 

on 9 December 2016. 

"We are happy with the way things 

are progressing at the terminal," 

said CEO Captain Rashid Jamil. 

"This ship marks the beginning of 

a new era for mega vessels calling 

at Pakistan. We have broken our 

own previous productivity record 

within a short span of time which 

shows that we are succeeding in 

bringing the efficiencies we had 

aimed for. We will continue to do 

so in the future as well. 



Building of additional oil storage 

capacities at Keamari 

oil installation area 

A high level meeting was chaired by 

Senator Mir Hasil Khan Bizenjo, 

Federal Minister for Ports & Shipping 

to discuss “Building of 

Additional Oil Storage 

Capacities at Keamari Oil 

Installation Area” held at 

Pakistan National Shipping 

Corporation recently. 

This meeting was attended 

by government stakeholders 

including Chairman PNSC, 

Chairman KPT, officials 

from Ministry of Defence, Pakistan 

Navy, Pakistan State Oil, PARCO, 

PRL, NRL, OCAC and other 

stakeholders from private sector. 

The Federal Minister for Ports & 

Shipping emphasized the importance 

of increasing and efficiently utilizing 

already available oil storage capacity 

in the country as these are critical to 

security and the growth of the national 

economy. 

Further, he highlighted the losses 

being incurred by the national 

economy as a result of inefficiencies 

in the crude oil and oil products 

discharge and storage/handling 

capacity of oil at KPT and the 

Keamari Oil Installation Area (OIA). 

he stressed the need to urgently 

address these inefficiencies in the 

national interest through consensus 

between the stakeholders. 

The Minister directed KPT to identify 

the available land for utilizing it towards 

increasing of storage capacity at 

Keamari. He said increase would 

facilitate in increasing import 

efficiencies. The Minister also instructed 

OMCs to find ways and means of 

increasing efficiencies at their end. 

At the end Minister 

i n f o r m e d t h e 

participants that he 

will take up the 

matter with the Prime 

Minister of Pakistan 

on the importance of 

improving crude oil 

and oil products 

handling at Keamari. 

He said that the matter of NOC would 

be taken up with National Security 

Council (NSC) and shall be duly 

reviewed by the Cabinet Committee 

on Defence Planning to allow 

exemption to PNSC for increasing 

storage/handling capacity of oil at 

Keamari, which will resultantly 

improve the port infrastructure. 

Three multifunctional piers 

create 20,000 jobs for locals 

Gwadar, the third deep-water port in 

Pakistan, now operates three 

multifunctional piers with an annual 

throughput capacity of between 

50,000 and 70,000 20-foot equivalent 

units, as well as bringing 20,000 jobs 

to locals. 

KPT earns Rs1.3bn this 

year, Senate panel told 

Karachi Port Trust (KPT) has 

earned Rs1.3 billion in 2016-17 so 

far, while total revenue generated 

in 2014-15 and 2015-16 stood at 

Rs1.89 billion and Rs1.6 billion, 

respectively. 

The port will also serve as a trade 

gateway for East and Central Asian 

countries to other parts of the world, 

according to Chairman, China 

Communications Construction Co 

(CCCC) Liu Qitao. 

After the completion of the 

construction, CCCC will also be 

responsible for a series of follow-up 

projects, such as the operation of a 

free-trade zone at Gwadar Port, he 

told local media. After completion of 

60 percent of first-phase construction 

of Gwadar's free zone, the Chinese 

engineers and their Pakistani 

counterparts are hoping to open the 

free zone for operation as early as 

possible, Hu Yaozong, deputy general 

manager of the Gwadar Free Zone 

Company said. 

Karachi Port Trust Chairman, Vice 

Admiral, Shafqat Jawed (Retd), 

informed this to Senate Standing 

Committee on Ports and Shipping 

recently. 

Chairman KPT distributes cash award cheques of 2 lac rupees amongst the KPT cricket team 

players for winning the KCCA trophy for Karachi Port Trust. 



Telecommunication News 

Cellular companies hail tax 

relief in budget 

Cellular companies operating in the 

country have thanked Minister of 

State for Information Technology and 

Telecommunication Anusha Rehman 

for making concerted efforts to 

promote the telecom industry in the 

country, says a press release issued 

recently. 

Mr. Li Wenyu, CCO Zong along with other senior officials cutting cake to inaugurate stateof-the-art 

customer service center in Quetta. 

In a joint letter written to the minister, 

the telecom companies including 

PTCL, Jazz, Telenor, Ufone and Zong 

thanked the minister for extending 

outstanding support to the industry in 

seeking relief on various tax issues in 

the Federal Budget 2017-18. They 

said it was the result of the 

collaborative efforts made by the 

M i n i s t r y a n d P a k i s t a n 

Telecommunication Authority (PTA), 

under the leadership of Anusha 

Rehman, that the industry had been 

granted some relief on withholding 

tax and federal excise duty. They said 

the telecom industry has always been 

e n c o u r a g e d b y t h e p r e s e n t 

government's progressive and 

empowering support, which is 

acknowledged by all stakeholders. 

“This is just the start of creating a 

positive enabling environment for the 

sector. There are still some 

outstanding taxation issues that will 

require us to work together. As you 

very kindly offered, and as the 

Finance Minister stated during his 

budget speech, we request your 

continued support for raising the 

harmonization of tax issues with the 

provinces." 

Zong and Silkbank officials pose for a photography after signing MoU for provision of MBB 

solution for bank customers and employees. 

Zong and UBL officials pose for a photography after signing MoU for provision of MBB 

solution for UBL customers and employees. 

Advance Telecom to launch Nokia Smart Phone:Left to Right (standing): Abdul Rehman 

(Business Controller - Advance Telcom), Rehan Sheikh (Head of Marketing - Advance Telcom), 

Aamir Hameed (Head of Sales - Advance Telecom), Usman Shahid (Head of Sales - HMD 

Global), Ammar Ahmed (head of Marketing - HMD Global), Faisal Ishrat (operator Account 

Manager - HMD Global) left to Right (sitting): Rizwan Majid (CEO - Advance Teleocm), 

Kamran Khan (Head of Near East - HMD Global) 



Telenor Microfinance Bank's mobile 

money platform, Easypaisa, and 

Inov8 Limited have signed a strategic 

agreement to offer Easypaisa's vast 

d i s t r i b u t i o n n e t w o r k t o a l l 

commercial banks who are signed up 

with Inov8 technology. The 

agreement was signed by the 

P r e s i d e n t & C E O Te l e n o r 

Microfinance Bank, Ali Riaz 

Chaudhry and Co-Founder and Co- 

CEO Inov8 Limited Bashir Sheikh, in 

presence of respective management 

teams. Under the agreement, Telenor 

Microfinance Bank has licensed 

Inov8 Limited's latest financial 

technology product, I8 ServiceBus 

(I8-SB), which will allow the mobile 

financial services provider to 

integrate with all Inov8 Limited 

deployments, offering their industry 

leading agent network for use by other 

banking players. The first bank has 

already been integrated as part of the 

implementation with others to follow 

soon. 

Easypaisa has the largest agent 

network across Pakistan, while Inov8 

Telenor Microfinance Bank & Inov8 join hands 

to further promote the mobile financial services industry 

Limited has the most widely deployed 

technology in the country for mobile 

and branchless banking, making this a 

natural synergy that can help the 

industry grow. 

Sharing his thoughts at the signing 

ceremony, Ali Riaz Chaudhry, 

P r e s i d e n t & C E O , Te l e n o r 

M i c r o f i n a n c e B a n k , s a i d : 

“Easypaisa's mission is to provide the 

underbanked of the world with instant 

access to relevant, convenient and 

affordable financial services. In that 

respect, we are delighted to partner 

w i t h I n n o v 8 ' s c u t t i n g e d g e 

technology used by multiple Banks. 

This is our way of showing that 

Easypaisa, world's largest bank-led 

mobile money program, supports all 

Commercial Banks in offering their 

customers the country's largest 

distribution network. Together, we 

can empower our societies much 

faster.” 

Bashir Sheikh, Co-Founder and Co- 

CEO Inov8 Limited, stated:“We 

created I8-SB to allow seamless 

integration between MFS platforms. 

One of the biggest use cases in our 

market is connecting new branchless 

and digital banking players to agent 

networks. We are proud to have the 

largest agent network in the country 

and one of the largest MFS providers 

in the world, Easypaisa, as a 

partner.” 

Samsung & Jazz Partners – Galaxy S8 & S8+ 

with Free Internet for a Month 

Samsung and Jazz have partnered 

together with the objective of 

launching the much-anticipated 

flagship devices Galaxy S8 and S8+ 

all over Pakistan. As a result of the 

partnership, customers can now get 

their hands on the latest Samsung S8 

and S8+ devices from their closet 

Jazz retail outlets for Rs.87,000/- 

and Rs.97,000/- respectively. 

Moreover, all Jazz & Warid 

customers can avail access to free 

3G and LTE for a month on the 

purchase of every Samsung Galaxy 

S8 and S8+. This way the loyal 

Samsung fans will be able to get the 

best internet experience, on the best 

and most innovative device yet. 

Mr. J H Lee – President of Samsung 

E l e c t r o n i c s , P a k i s t a n & 

Afghanistan stated: “A growing 

number of urban smartphone users 

love Samsung Galaxy products as 

they inspire millions 

of people worldwide. 

As we join hands 

with Jazz, our aim is 

to unleash a similar 

inspirational spirit 

for our fans in 

Pakistan.” Head of 

Data and Devices, 

J a z z – M r . 

M u h a m m a d A l i 

Khan said: “The partnership 

between Jazz and Samsung is truly a 

remarkable development. As we 

move ahead with ushering a digital 

revolution in the country, such 

enterprises will reap stimulating 

benefits for our customers.” 



Banking & Insurance 

The National bank of Pakistan 

recorded a pre-tax profit of Rs. 6.7 

billion i.e. 7.8% up against Rs. 6.2 

billion for the corresponding three 

months period of 2016. After-tax 

profit for the period was Rs. 4.2 

billion i.e. 4.1% higher than Rs. 4.0 

billion for the corresponding three 

months period of 2016. This 

translates into earnings per share of 

HBL declares profit 

of Rs9.1bn 

HBL has declared a consolidated 

profit after tax of Rs 9.1 billion for 

the first quarter of 2017, with 

earnings per share of Rs 6.16. Along 

with the results, the Bank declared a 

dividend of Rs 3.5 per share (35 

percent). 

HBL’s balance sheet has grown by 

two percent over December 2016 to 

reach Rs 2.6 trillion. Despite a 

decline in the market, the Bank’s 

deposits continued to grow, with 

market share rising to 14.2% and 

total deposits crossing Rs 1.9 

trillion. Domestically, HBL grew its 

CASA deposits by Rs 30 billion 

during the quarter and the CASA 

ratio improved to 87.1%. 

Average domestic current accounts 

increased by 16% compared toQ1 

2016, enabling the Bank to further 

reduce its cost of deposits. Lending 

activity has remained robust, with 

average domestic loans increasing 

Rs.1.98 as against Rs.1.90 for the 

corresponding quarter of 2016. 

Meeting of the Board of Directors 

(BoD) of National Bank of Pakistan 

(bank) was held recently at Bank’s 

Head Office in Karachi in which the 

BoD approved the financial 

statements of the bank for three 

months period ended March 31, 

2017. 

Bank’s net interest / mark-up 

income increased by 2.2% to Rs. 

12.3 billion against Rs. 12.0 billion 

for Q1 of 2016. This was achieved 

through maintaining an efficient 

asset-mix of high-yield loans and 

investments. Similarly, growth was 

by 24% over the first quarter of last 

year as all business segments 

delivered excellent performance. 

The Bank was thus able to overcome 

most of the spread compression 

caused by low interest rates, 

recording net interest income of 

Rs20.1 billion. 

With excellent performance from 

treasury related activities, nonmarkup 

income increased by 26% to 

R s 8 . 3 b i l l i o n . F e e s a n d 

Commissions for the quarter grew 

by 9% to Rs4.8 billion with 

continued strong performances by 

t h e B a n c a s s u r a n c e , a s s e t 

management and consumer finance 

businesses. HBL’s prudent risk 

NBP maintains growth pre-tax 

profit up by 7.8pc in Q1 

also achieved in non-mark-up / 

interest income for the period which 

increased by 13.1% YoY to Rs. 7.4 

billion. 

While the balance sheet footing 

dropped by 2% compared to year 

end 2016, the bank recorded a 

healthy YoY growth in both 

deposits and advances. As of March 

2017 bank’s deposits amounted to 

Rs. 1,588 billion being 25% up 

against that of March 2016; 

whereas the net advances also 

increased to Rs. 648 billion i.e. 17% 

up YoY. 

management resulted in a reduction 

in non-performing loans with 

provisions also decreasing by 26% 

over the first quarter of 2016. The 

Bank’s infection ratio fell further, to 

9 . 1 % , w h i l e t h e c o v e r a g e 

strengthened, to nearly 92%.HBL’s 

reach now includes more than 2,000 

ATMs and over 14,800 POS 

machines, augmenting its network 

of 1,678 branches, to provide access 

and convenience to its customers 

across Pakistan. 

The consolidated Capital Adequacy 

R a t i o ( C A R ) a s a t 

March2017was15.5%, with the Tier 

1 CAR at12.1%, both well above 

regulatory requirements. The 

Bank’s local credit ratings remain in 

the highest possible AAA/A-1+ 

categories for long term and short 

term respectively. During the 

quarter, HBL continued to receive 

several important awards including 

the Best Domestic Bank in Pakistan 

by Asiamoney, and the Best Retail 

Bank in Pakistan, by The Asian 

Banker. 



UBL inaugurates Contact 

Centre in Islamabad 

UBL, Pakistan’s Best Bank 2016, 

inaugurated its state-of-the-art 

Contact Centre in Islamabad 

recently. Located in G6, Islamabad, 

Wajahat Hussain, President & CEO 

UBL inaugurated the Contact Centre. 

He was accompanied by Sima Kamil, 

Deputy CEO UBL and other senior 

executives of the Bank. 

The visiting group was given a 

SBP signs pact 

with Iranian bank 

In a major move to 

establish banking channel 

for trade, the State Bank of 

Pakistan (SBP) has signed 

an agreement with Bank 

Markazi Jomhouri Islami Iran for 

banking and payment arrangement. 

Wajahat Hussain, President & CEO, UBL inaugurates UBL’s Contact Centre in Islamabad. 

this contact centre is UBL’s third and 

offers multiple banking service 

options to the customers of the Bank. 

With a capacity of 130 seats, the 

centre offers Inbound, Telesales, 

Callback Mailroom and Social 

Media Services. 

detailed overview on the Contact 

Centre’s services and how it has now 

emerged as one of the leading Banking 

contact centres in Pakistan. Later, the 

group was given an extensive tour of 

the centre where they observed the 

contact centre team’s operations. 

The SBP has revealed that an 

agreement on BPA has been signed 

between the State Bank and Bank 

Markazi Jomhouri Islami Iran (BMJII) 

in Tehran. Riaz Riazuddin, Deputy 

Governor, SBP and Ghulam Ali 

Kamyab, Vice Governor BMJII signed 

the agreement on behalf of their 

respective central banks. the objective 

of the BPA is to provide a trade 

settlement mechanism to promote trade 

between Pakistan and Iran. This 

mechanism will be used for payment of 

trade conducted via letter of credit (LC) 

and in accordance with international 

laws and regulations. 

The Federation of Pakistan 

Chambers of Commerce & Industry 

The Federation of Pakistan Chamber 

of Commerce & Industry (FPCCI) has 

organized a symposium on Health 

Care Insurance in Karachi recently. 

Mr. Saifuddin N. Zoomkawala, 

Chairman, Eastern Federal Union 

Insurance Co. (EFU) was the key note 

speaker on the occasion. Mr. Irfan 

Ahmed Sarwana, Vice President 

FPCCI welcomed Mr. Saifuddin N. 

Zoomkawala, Chairman EFU at the 

H e a d o ff i c e o f F P C C I a n d 

appreciated the efforts of FPCCI 

Standing committee on Medical 

consultant for organizing this 

symposium on the HealthCare 

Insurance, whose objective is to 

create an awareness regarding the 

importance of healthcare, which is the 

main issue of people of Pakistan and 

particularly industrial workers, 

unfortunately, like the other social 

sector, health is not a priority area of 

the Pakistan government. 

Mr. Irfan Ahmed Sarwana, Vice President FPCCI is presenting FPCCI crest to Mr. Saifuddin 

N. Zoomkawala, Chairman EFU. Mirza Ishtiaq Baig, Mr. Saqib Fayyaz Magoon, Vice 

Presidents FPCCI, Mr. Hanif Gohar, Former Vice President FPCCI and others also seen in 

the picture. 

Mr. Irfan Sarwana further added that 

Health insurance is an approach of 

paying all the costs of healthcare. It 

protects insured persons from paying 

high treatment costs during all types of 

sickness. The history of Health 

Insurance is as old as the history of 

mankind. Currently, according to World 

Bank, the system is practiced in more 

than 80 countries all over the world. 

In Pakistan, the Private Health 

Insurance was introduced more than 

three decades back, but its 

significance was never fully 

acknowledged. However the past few 

years has seen a growing interest in 

b o t h i t s u n d e r s t a n d i n g a n d 

acceptance. In urban Areas, People 

have generally awareness of the 

scheme but in rural areas, the people 

are generally unaware about this 

scheme. The holding of these types of 

seminar and symposium, is to create 

awareness and impress upon need of 

ensuring adoption of health insurance 

scheme for in industrial workers. 

While concluding Mr. Irfan Ahmed 

Sarwana, Vice President FPCCI 

thanked Chairman of FPCCI Standing 

Committee on Medical Consultants 

for organizing this important seminar, 

in order to create awareness regarding 

health insurance in Pakistan. 



Standard Chartered Bank (Pakistan) Limited 

announces its Q1 2017 results 

The Bank reported a Profit before 

tax of PKR 4.1 billion compared to 

PKR 4.9 billion for the same period 

last year. Revenue was lower by 

PKR 942 million primarily due to 

reduced margins. The impact of 

margin compression on revenue 

was partially offset by a stable nonfunded 

income and decreasing cost 

of funds. 

Administrative costs continue to be 

well managed through operational 

efficiencies and disciplined 

spending, leading to a 1per cent 

decrease from Q1 2016. Further, 

strong recoveries of bad debts, 

coupled with lower impairments led 

to a net release of PKR 340 million 

in the current period. 

All businesses have positive 

momentum in client income with 

The Board of Directors of Meezan 

Bank, in its meeting held in Karachi 

r e c e n t l y a p p r o v e d t h e 

unconsolidated financial statements 

of the Bank and its consolidated 

financial statements for the quarter 

ended March 31, 2017. 

The meeting was presided by 

Riyadh S.A. A. Edrees, Chairman of 

the Board and Faisal A. A. A. Al- 

Nassar, Vice Chairman of the 

Board. 

By the Grace of Allah (SWT), 

Meezan Bank has continued its 

growth momentum and recorded 

strong growth in underlying 

drivers. This is evident from a 

pickup in advances, which have 

grown by 21per cent since the start 

of this year. This was the result of a 

targeted strategy to build 

profitable, high quality and 

sustainable portfolios. With a 

diversified client base, the Bank is 

well positioned to cater for the needs 

of its clients. 

On the liabilities side, the bank’s 

total deposits grew by 3per cent 

since the start of this year. The 

continuous increase in low cost 

deposits has significantly supported 

the Bank’s performance with 

current and savings accounts 

comprising 92per cent of the deposit 

base. 

Commenting on the results Shazad 

good results for the quarter ended 

March 31, 2017. Profit after tax 

increased to Rs 1,512 million from 

Rs 1,337 million earned in 

c o r r e s p o n d i n g 

period last year, 

primarily due to 

growth in earning 

assets. The Bank 

recorded Earnings 

per Share (EPS) of 

Rs 1.51. 

T h e B a n k 

continued to enhance its financing 

exposure in all sectors while 

simultaneously ensuring that all 

risk parameters are met. Fee and 

commission income of the Bank 

grew by 68 percent over the 

corresponding period last year 

while the trade business (Import 

and Export) volume handled by 

Dada, Chief Executive, Standard 

Chartered Bank (Pakistan) Limited, 

said, “These results demonstrate the 

diversity and resilience of our 

business. We will continue to make 

investments in our people and 

infrastructure to grow safely and 

capture the business opportunities 

in the country. 

Having worked hard to secure our 

foundations we are now focused on 

realising their potential. We are fully 

committed to delivering sustained 

growth by consistently focusing on 

our clients and product suite to bring 

to them best in class services.” 

Meezan Bank announces result 

for first quarter 2017 

the Bank, at Rs 165 billion, was 

higher by 37 percent over the 

corresponding period last year. 

The Bank maintained its position as 

the country’s leading Islamic bank 

and the 8th largest bank of Pakistan 

(among both conventional and 

Islamic banks) with a branch 

network of more than 570 branches 

in 146 cities. 

The JCR-VIS Credit Rating 

Company Limited, an affiliate of 

Japan Credit Rating Agency, Japan 

has reaffirmed the Bank’s long-term 

entity rating of AA (Double A) and 

short-term rating at A1+ (A One 

Plus) with stable outlook. The shortterm 

rating of A1+ is the highest 

standard in short-term rating. The 

rating indicates sound performance 

indicators of the Bank. 



State Bank grants banking 

licence to Bank of China 

State Bank of Pakistan (SBP) has issued 

a banking licence to the Bank of China. 

The bank will commence its business in 

branch mode after meeting other 

regulatory requirements. 

The Bank of China is a subsidiary of 

China Central Huijin, investment arm 

of the Government of China. The Bank 

of China is not only operating in the 

Chinese main land, but its footprints 

have reached to 50 countries. Nineteen 

of those countries are located across 

Chinese “One Belt One Road” 

initiative. At the end of 2015, the Bank 

had a total of 11,633 institutions 

including 644 in overseas markets. 

The Bank of China is the 4th and 5th 

largest global bank in terms of Tier-1 

Capital and total Assets respectively. It 

is listed on the Shanghai Stock 

Exchange and the Hong Kong Stock 

Exchange. 

The bank will initially bring US$ 50 

million to fulfill the Minimum Capital 

Requirements of SBP. The long term 

objective of the Bank of China is to 

increase its market penetration by 

opening branches in major cities of 

Pakistan aiming to be one of the largest 

foreign banks in Pakistan. 

The Bank of China aims to provide 

differential and specialized banking 

services to effectively serve the 

financing needs of China Pakistan 

Economic Corridor (CPEC) related 

projects by leveraging on its experience 

and global technology platform. 

The Bank of China is the second 

Chinese bank entering in Pakistan. The 

Bank of China's entry into Pakistan 

represents growing confidence of 

international investors on the country's 

banking sector and stable economic 

outlook. 

Governor State Bank of Pakistan Mr. Ashraf Mahmood Wathra inaugurated the Heritage Meeting Rooms building at SBP Headquarters I.I 

Chundrigar Road Karachi. 

Bank Alfalah wins Best Loyalty 

and Rewards Program award 

P a k i s t a n ' s l e a d i n g b a n k i n g 

institution, Bank Alfalah has won 

the'Best Loyalty and Rewards 

Program Award' for its Orbit Rewards 

Program at the 2017 Mastercard 

MENA Leadership Forum that took 

place in London, UK. 

Hosted by Mastercard, a leading 

technology company in the 

global payments industry, the 

F o r u m b r o u g h t t o g e t h e r 

executives from a number of 

leading banks in the region, to 

discuss the future of the payments 

industry and celebrate the success 

of financial organizations in 

maximizing the reach of Mastercard's 

solutions and programs among their 

customers. 

“We are delighted that Alfalah Orbit 

Rewards has been recognized at this 

prestigious forum. As a first of its 

kind rewards program in Pakistan, 

Alfalah Orbit Rewards is a unique 

offering that allows customers to 

earn points on their entire banking 

relationship while also providing 

unparalleled and innovative 

redemption options. 

The Asian Development Bank 

(ADB) has approved a loan of USD 

20 million to enable Khushhali 

Micro finance Bank (KMBL) to 

expand access to credit for 

agriculture-related borrowers and 

small businesses. On this occasion, 

Ghalib Nishtar, President & Chief 

Executive Officer, KMBL is seen 

shaking hands with Christine 

Engstrom, Director Financial 

Institutions Group, ADB. 



Hyundai – a famous automotive 

pioneer recognized all over the 

world, has now joined hands with 

Al-Haj Group with the purpose of 

introducing top-of-the-line heavy 

commercial vehicles through a 

technology transfer contract (TTC), 

under the subsidy Al-Haj Hyundai 

Pvt. Ltd. Hyundai's excellent 

quality and product support, and Al- 

Haj Group's dedication and name in 

the market since 1960, will aim to 

upgrade the standards of high 

qualitycommercial vehicles. 

The China Pakistan Economic 

Corridor (CPEC) has the potential 

to facilitate 4% of the global trade 

Automobile News 

Hyundai to Join Hands with Al-Haj Group 

to produce Heavy Commercial Vehicles 

volumes to pass through Pakistan by 

the year 2020. It will accelerate the 

economic growth of Pakistan and 

several other countries in the 

surrounding region, through the 

development of a 21st century 

Maritime Silk Road, encompassing 

a modern trade and infrastructure 

network. 

Mr. Bae Kyungsik, Chairman 

Hyundai said, with the demand of 

heavy duty vehicles on a sharp rise, 

Al-Haj Hyundai Pvt. Ltd. will 

initially introduce; a heavy duty 

truck XCIENT, with different 

variant, UNIVERSE Luxury buses, 

for intercity travel, and MIGHTY 

medium and light duty trucks. Later 

on, Al-Haj Hyundai also plans to 

introduce various other products of 

HYUNDAI in Cargo and passenger 

handling segments. 

The CEO of Alhaj Hyundai Pvt. Ltd 

- Mr. Bilal Khan Afridi stated: “This 

joint venture with Hyundai Motors 

is a wonderful business opportunity 

for both the companies and will not 

o n l y p r o v i d e e m p l o y m e n t 

opportunities, but will also upgrade 

the standards of Local Commercial 

Product segments with advance 

Technology and High Quality 

products. ” 

AL-HAJ HYUNDAI also plans to 

construct a state-of-the-art 

manufacturing cum assembling 

plant, for HYUNDAI-HCV 

vehicles. For the plant, the company 

has already purchased 30 acres of 

land on the main National Highway, 

near Pakistan Steel. The first phase 

of the plant will be operational by 

May 2018. Hyundai operates the 

w o r l d ' s l a rg e s t i n t e g r a t e d 

automobile manufacturing facility 

in Ulsan, South Korea, which has an 

annual production capacity of 1.6 

million units, covering 193 

countries. 

Al-Ghazi Tractors renews 

pact with CNH Italia 

Al-Ghazi Tractors Ltd (AGTL) has 

renewed its industrial collaboration 

agreement with CNH Industrial 

Italia for the next 10 years to 

assemble and sell New Holland 

CNHI tractors in Pakistan. AGTL in 

a filing with the Pakistan Stock Exchange 

(PSX) recently, stated that 

under the new agreement, the 

company would also export tractors 

to Afghanistan. 

c o m p o n e n t s b y t r a c t o r 

manufacturers to match the output 

rate. This would help the industry to 

reduce yearly refunds to the tune of 

Rs1 billion. As sales tax on imports 

is directly collected by the 

government at the import stage and 

no other intermediaries are 

involved, therefore it is advisable 

for the authorities to implement this 

measure; avoiding the hassle of 

refund processing, suggested the 

tractor industry to the special 

adviser. 

one unit of tractor the amount of 

input tax is always higher than the 

output tax. 

The outcome is an anomally on 

perpetual basis, such that refunds 

are consistently accruing and 

increasing on a regular basis, tractor 

makers informed Mr Akhtar. 

Meanwhile, recently a delegation 

from the tractor industry met 

Haroon Akhtar, Special Assistant to 

the Prime Minister on Revenue, 

requesting him to consider their 

proposal to rationalise the rate of 

input tax on purchases of 

It may be mentioned that 

agricultural tractors are subjected to 

sales tax at the rate of five per cent, 

whereas on procurement of required 

parts, both locally as well as 

imported, sales tax at standard rate 

of 17pc is levied; consequently, in 


P a k i s t a n A u t o m o t i v e 

M a n u f a c t u r e r s A s s o c i a t i o n 

(PAMA) had already requested the 

government to abolish customs 

duty, additional customs duty and 

reduce the rate of input tax on 

tractors.


Travel World 

PIA to start direct flights to 

Central Asian states 

In addition to the commitment for 

shared economic prosperity and to 

enhance regional connectivity, 

Advisor to PM on Aviation Sardar 

Mahtab Ahmad Khan stated that 

direct connectivity of PIA flights to 

Central Asian States will be started 

soon, which will not only open new 

chapters of regional linkages and 

will also enhance the economic and 

PIA mulling to automate 

agents’ related system 

Pakistan International Airlines 

(PIA) is planning to automate its 

agents' related system in order to 

facilitate them at optimum level. 

This was stated by acting CEO 

PIA, Nayyar Hayat during his 

meeting with a group of leading 

travel agents in Lahore. He said 

that travel agents were playing an 

important role in promoting PIA's 

sales and the national flag carrier 

considered them as its trade 

partners. 

The Chinese national airline ‘Air 

China’ is contemplating to 

commence daily flight to 

Pakistan, said GM Air 

China. 

During meeting with 

Former Chairman of Travel 

A g e n t s A s s o c i a t i o n 

Pakistan (TAAP) and 

Managing Director, Polani 

Group, Muhammad Yahya Polani at 

his office, Andy Hao, General 

Manager, Air China along with 

other members of the delegation 

said that the airline was poised to 

facilitate TAAP at maximum. He 

trade related activities with the 

countries of this region. 

He expressed these views during 

meeting with Federal Minster for 

Commerce and Trade, Engineer 

He emphasised travel agents for 

promoting sales for Europe, UK and 

Americas with full PIA cooperation 

and also 

expressed satisfaction 

over the performance 

of PIA's Lahore sales 

team and asked to 

continue working 

d i l i g e n t l y f o r 

achieving even better 

results in future. 

Moreover, Nayyar 

said PIA's management was 

working hard for improving the 

service standards of the national 

carrier, so that a better product was 

further said they were already 

contemplating to increase the 

number of flights to Pakistan and 

added that daily flight schedule 

would be announced soon. 

Earlier, Yahya Polani said that 

improved law and order situation in 

the country was now providing 

Khurram Dastgir Khan. 

Minister for Commerce and Trade, 

Khurram Dastgir praised the 

ingenuities and steps taken by PIA, 

under the leadership of Sardar 

Mehtab Ahmad and appreciated the 

different endeavors particularly 

flights punctuality, latest equipment 

and modern technology, improved 

competitiveness and modifications 

of infrastructures in PIA to make it 

parallel to international standards. 

made available to the passengers. 

Acting Chief Commercial Officer 

Tahir Niaz, District Manager, Asad 

Ullah Ghauri and officials from 

Lahore station were also present on 

the occasion. 

Air China contemplating 

daily flight to Pakistan 

favorable environment to 

foreign investors to do business 

in Pakistan. He further said that 

CPEC project would help 

reviving tourism and aviation 

industry that would lead socioeconomic 

development in the 

country and urged the delegation to 

increase its flight operations as 

flight operation on a daily basis 

would enable more passengers 

especially businessmen to travel to 

and from China conveniently at 

affordable fare. 



Shaheen Air Inducts fourth 

Airbus A319 into its Fleet 

In line with its commitment of offering 

the best services to its passengers, 

Shaheen Air International (SAI) has 

inducted a fourth Airbus A319 into its 

fleet. The new aircraft allows SAI to 

expand on its local and international 

routes, while providing passengers 

highest standards of service and 

reliability. 

The Airbus A319 has been customfitted 

with thin and linear seats to 

provide added comfort to passengers. 

Due to this, it can accommodate around 

150 passengers in its all-economy 

segment. It has a brand new interior, 

thereby giving a refreshing experience 

to people choosing to travel by Shaheen 

Air. 

Upon the induction of 

the new aircraft, Zohaib 

Hassan, Chief Marketing 

Officer, Shaheen Air 

International remarked, 

“The addition of the 

fourth Airbus into our 

fleet is a testament to our 

commitment towards our 

passengers and the local 

aviation industry. Fleet 

expansion allows us to 

grow internationally by way of new 

routes, while also increasing frequency 

of local flights. Moreover, it ensures our 

passengers enjoy the experience of 

flying with us.” 

In March of this year, SAI had 

rebranded itself by launching a new 

logo that aptly complimented its vision 

and innovation in setting new standards 

in the field of aviation. The airliner 

Shaheen Air International takes delivery of the 4th Airbus A319 

at Jinnah International Airport. 

began its journey as Pakistan’s first 

private airline 24 years ago and quickly 

garnered the privilege of being 

Pakistan’s second national carrier. Now 

with 25 planes under its auspices, SAI is 

looking towards a brighter tomorrow, 

not just for itself, but for the industry as 

well. 

The airline is also slated to receive three 

more aircraft of the similar model in the 

coming months. 

Etihad Airways and Airbus employees celebrate the handover of the 

airline’s 10th and final Airbus A380 at Hamburg Finkenwerder. 

Employees from Etihad Airways and 

Airbus gathered at the European 

p l a n e - m a k e r ’ s H a m b u r g 

Finkenwerder plant in Germany, 

w h e r e t h e 

aircraft was 

o f f i c i a l l y 

handed over 

to the UAE 

n a t i o n a l 

a i r l i n e 

b e f o r e 

commencing 

its delivery 

flight to Abu 

Dhabi. 

The airline’s 

award-winning double-decker A380s are 

the most customised aircraft of their kind 

in commercial service and feature unique 

Etihad Airways celebrates the 

delivery of its 10th A380 

innovations such as The Residence - a 

three-room living space for up to two 

guests, including a living room, a private 

shower-room, and a bedroom. The 

aircraft also boasts nine First Apartments, 

70 Business Studios, a Lobby Lounge, 

and 415 Economy Smart Seats. 

Etihad Airways operates its fleet of 

Airbus A380s on flights from the UAE 

capital to London, Sydney, New York, 

and from 1 July, Paris. 

Turkish Airlines extends its 

'Stopover' Services in Istanbul 

Transfer passengers now will have an 

opportunity to discover Istanbul, the 

seamless hub of the global carrier, 

through its new 'Stopover' service. 

Turkish Airlines, the carrier that flies to 

more countries than any other airline in 

the world, has now extended its 

'Stopover' service for its transfer 

passengers, departing from Pakistan, 

Kazakhstan, Australia, Russia and 

Belarus to arrive to the U.S., Europe, 

South American countries, U.K., 

Ireland, Far East, Middle East, North 

Africa and Asia. 

Passengers from these 

countries who have over 20 

hours of connection time in 

Istanbul can avail this 

service which was earlier 

offered to passengers 

travelling from Pakistan 

only. 'Stopover' services 

o f f e r p a s s e n g e r s a 

complimentary accommodation and a 

great opportunity to discover the unique 

beauties of Istanbul during their transit. 

T r a v e l l e r s w i l l r e c e i v e a n 

accommodation cheque from Turkish 

Airlines' authorised staff after 

completing the flight booking 

process for the passenger. This 

cheque will allow economy 

class passengers to stay for one 

night at a 4-star hotel; and for 

business class passengers to 

stay 2 nights at a 5-star hotel in 

Sultanahmet and Taksim, 

generally described as the 

central points of Istanbul. 

Mr Ahmet Olmuştur, Turkish Airlines' 

Chief Marketing Officer, said: "After 

receiving positive response from our 

passengers we are excited to extend our 

'Stopover' programme to other 

countries. 



PTA hails the lucrative 

Federal Budget 

for the year 2017-18 

Mr. Anjum Zafar, Chairman, Pakistan 

Tanners Association (PTA) hailed the 

Federal Budget for the year 2017-18, 

wherein all major demands of Leather 

Sector of Pakistan have been accepted 

& incorporated in the budget, which are 

as follows :- 

01. Removal of Custom Duty on import 

of basic raw materials for the Industry 

(Raw hides & skins/pickled and wet blue) 

this step by the Government will help a 

lot in reviving the dying Leather Industry 

back and compensate for the lost 

production capacities for export, but it is 

also requested that farming and breeding 

of animals should be encouraged on 

URGENT basis for future of our industry 

and basic protein and milk requirements 

of public in general . 

02. Removal of Duty on Stamping 

Foils, which is the new technology in 

Leather tanning Industry to produce 

high quality fashion leather/articles. 

Leather Industry 

This will help to gain additional share in 

international export market and to 

compete with other countries 

manufacturers. 

03. Announcement for the release of all 

Pending Claims specialy RPO's for the 

Sales Tax to Leather Sector of Pakistan 

on or before 14th Aug, 2017 would 

obviously facilitate our member 

exporters to avert their financial 

stringenices to have working capital for 

the smooth execution of exports orders 

with convenience, which was the dire 

need of the Industry. 

04. Retained Leather Sector of Pakistan 

being one of the core sectors of the 

industry as "continous zero rating" 

Industry of the country, among others. 

05. Mr Anjum Zafar Chairman PTA 

also requested that Minimum turnover 

Tax of 1.25% announced in budget 

should not be levied on export sector 

under final tax regime 115(4) which is 

1% presently and is already much 

higher than normal taxation and export 

sector is already under lot of pressure of 

high cost of doing business. 

06. The Chairman, PTA, Mr. Anjum 

Zafar also requested to allow exemption 

of Duties on import of Tanning 

Machineries, as has already been 

allowed/exempted for Textile & 

Poultry, as this specific Leather Sector, 

desparately needs upgradation with 

new machines/new technology to 

produce innovative fashion & 

attractive leather. 

The Chairman, PTA, Mr. Anjum Zafar 

already appreciated earlier incentives 

for DLTL against local taxes & levies, 

which was announced by the 

Honourable Prime Minister of Pakistan 

on 10.01.2017, which is really very 

supportive to Leather Sector of Pakistan 

and enabling our member exporters to 

compete in International market in 

comparison with regional competitors, 

while the announcement for the above 

incentives would certainly motivate the 

leather sector exporters of Pakistan to 

play their pivotal role in fetching 

precious foreign exchange for the 

national exchequer as per aspiration of 

the Honourable Prime Minister of 

Pakistan. 

EXPORT OF LEATHER AND LEATHER PRODUCTS FROM PAKISTAN 

DURING JULY-APRIL 2015-16 VIS-JULY-APRIL 2016-2017

Trade Chronicle May June 2017

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