22 December 2017

6
Friday, December 22, 2017
Biz
Pakistan is ideal country for
investment: Governor Sindh
LONDON: Governor
Sindh Muhammad Zubair
attended an event on
Thursday, which was
arranged by Pak-Britain
Chamber of Commerce
and Industries during his
ongoing Britain visit.
Many noted businessmen
and other active overseas
Pakistani and British
nationals from different
sectors and backgrounds
also attended this event
enthusiastically.
Zubair while addressing
the event, said that after
overcoming the security
issues and energy crisis in
Pakistan, the business and
foreign investments had
been rising in the country
day by day, but unfortunately
there was still a negative
perception about
Pakistan in the world, so to
wash it out and showcase
the soft image of the country,
many road-shows had
been arranging to attract
the business sectors in different
parts of the world.
The Governor Sindh
stated that he had attended
road shows in the USA,
UAE and Doha before
coming to Britain and had
LONDON : Governor Sindh, Muhammad Zubair and Lord Mayor of London Mr. Charles
Bowman after exchanging souvenirs at Mansion House.
also interacted with the
business class of each
respective country and told
them about the changing
environment of Pakistan in
terms of investments and
business.
“People of USA
showed their keen interest
to invest in different sectors
of Pakistan which is
the good news for
Pakistanis. The
Manchester trip is also a
continuation of those road
shows which Pakistan has
been arranging in different
countries.”
He said that the today’s
Pakistan is entirely different,
progressive and more
peaceful as compared to
2013 sitatuion. Each and
every sector of the country
has been leading towards
betterment and giving positive
results. The new economic
policies of the government
have increased
the business and investments
in the country while
the government was providing
every possible help
to the people in business
sector.
“The profitable multinational
companies of
Karachi are taking interest
in more investments due to
restoration of peace and
overcoming the energy crisis,
while the infrastructure
in industrial sector has
been reinstated.”
Zubair ascertained that
Pakistan is an ideal and
attractive country for
investment, where the government
has also provided
its full help and support to
the investors because foreign
investment is the key
to eliminate poverty and
inflation from the country.
The Sindh governor
also met and greeted overseas
Pakistanis during his
Manchester visit and also
appreciated their efforts to
serve the country despite
living outside Pakistan.
Need stressed for promoting
Pak-Uzbek bilateral trade
ISLAMABAD: Vladimir
Norov, Director, Institute for
Strategic and Regional
Studies of Uzbekistan along
with H.E.Furqat A. Sidikov,
Ambassador of Uzbekistan
to Pakistan visited
Islamabad Chamber of
Commerce and Industry and
addressing the business
community, stressed that
Pakistan and Uzbekistan
should focus on exploiting
their geographical proximity
for promoting bilateral trade
and economic relations to
achieve mutually beneficial
outcomes for their
economies. Maj. Gen.
(Retd) Khalid Amir Jaffery,
President. Center for Global
and Strategic Studies of
Pakistan also accompanied
them.
Vladimir Norov said that
Uzbekistan had US$
520million bilateral trade
with Afghanistan and our
target was to take it to US$ 1
billion. However, with
Pakistan its trade was just
around US$ 24 million
despite the fact that both
countries have great potential
to promote trade in many
areas. He urged that Pakistan
and Uzbekistan should
accord high priority to
improving two-way trade
that would bring many benefits
to the people of two
nations.
He said Pakistan and
Uzbekistan could cooperate
in many fields including textiles,
agriculture, energy,
automobiles, pharmaceuticals,
chemicals and others.
He said Uzbekistan has
established 7 Free Economic
Zones with attractive incentives
for foreign investors
and has envisaged 650 projects
involving an investment
of US$40 billion. He
emphasized that Pakistani
investors should explore
joint ventures and investment
opportunities in
Uzbekistan.
ISLAMABAD: Minister of State/Chairperson BISP MNA Marvi Memon and Secretary
BISP Omar Hamid Khan in a meeting with Country Head DFID Ms. J oanna Reid at
BISP Secretariat.
PSX continues upward journey with 508 points gain
KARACHI: The
Pakistan Stock Exchange
(PSX) Thursday continued
upward rally after gaining
huge 507.71 points to take
the tally to 38715.77 level.
The stocks recorded the
highest trading level of
38793.99 points and lowest
level of 38014.84 points,
with the volume of 179.63
million shares and value of
Rs6.92 billion. As many as
366 companies were
active; of which 196
advanced, 152 declined
and 18 remained
unchanged.
TRG Pak Ltd was the
volume leader with 14.98
million shares, adding
Rs1.33 to reach Rs27.93. It
was followed by Dewan
Salman with 13.35 million
KARACHI: Chief about visionary method of
Secretary Sindh Rizwan economic development,
Memon has assured that senior economist of World
the Sindh Government Bank Amjad Basheer
would leave no stone for
betterment of the economic
introduced the delegation.
The Chief Secretary noted
development process, that all department of
with a view to improve Sindh Government are
the ranking of ease of
doing. While presiding a
tremendously performing
their duties the coordination
meeting with the World
with World Bank
Bank delegates met to him shall be appreciated to this
led by Ms. NICHA effect, he added.
SATHORNKICH of bank Chairman Planning &
of Thailand, who Development Board
addressed the meeting Sindh Muhammad
shares, shedding Rs-1 to
end at Rs1.20 and DGK
Cement with 8.80 million
shares, adding Rs2.66 to
close at Rs115.40.
The top three gainers
were Hinopak Motor with
price per share of 1010
(39), Murree Brewery with
price per share of 722.40
(34.40) and Siemens Pak
of 900.96 (31.16).
The top three losers
were Nestle Pakistanwith
price per share of 11499.99
(-565.01), Wyeth Pak Ltd
with price per share of
1238.70 (-64.51) and
Sanofi-Aventis share of
1053.55 (-46.66).
The stocks opened on
bullish note and added 32
points in early trading to
reach 38240 level. Despite
World Bank team on economic
development calls on chief secretary Sindh
BANNU: A man buying Guava in a local market.
Waseem maintained that
all out efforts are being
made by all the departments
with harmony and
devotion headed by the
Chief Secretary Sindh
Rizwan Memon.World
Bank representative Ms
Nasreen Ali, Additional
Chief Secretary
Information Technology
Shabbir Ahmed and Abrar
Shaikh the Director of
SBOI (Sindh Board of
Investment) were also
present.
volatility, the PSX
remained in green zone till
midday after gaining 98
points to reach 38306
points level.
Yesterday, the PSX
benchmark KSE 100-index
remained positive throughout
almost the whole trading
session Wednesday to
finally close at 38,208
points, gaining 289 points.
Top index point contributors
were HBL (up
5%), UBL (4.6%), MCB
(2.7%), OGDC (2%) &
BAHL (3.2%), which
added 307 points to the
index while stocks including
DGKC (down 4%),
HUBC (1.6%), SNGP
(2.2%), LUCK (0.9%) &
TRG (3.6%) held back 77
points from the index.
UN Economic and
Social Commission
signs agreement
with COMSATS
ISLAMABAD: United
Nations Economic and Social
Commission for Asia and the
Pacific (UNESCAP) and the
Commission on Science and
Technology for Sustainable
Development in the South
(COMSATS) signed a
Byco Petroleum’s
profit up by 50pc
KARACHI:
Petroleum
Limited (BPPL) declared
profit after tax of Rs.2.1
billion for the year ended
June 2017, a 50% increase
over the same period last
year. Byco’s operating
profit also registered
growth of 14% in FY17
over FY16. Byco has
shown stable earnings
growth over the last several
years. For the last 3 consecutive
years the company
posted operating profit of
Rs. 3 billion or more.
Earlier in the year,
BPPL received approval
from the High Court to
merge with its wholly
owned subsidiary and its
parent company to integrate
various parts of its
petroleum supply chain.
BPPL’s FY17 earnings per
share (EPS) of Rs. 0.26 per
share in consolidated
accounts compared to its
FY16 EPS of Rs. 0.40 per
share is a major achievement
given that following
the merger the number of
shares have increased by
542% to 5.3 Billion shares
as against 977 Million
shares last year. This shows
the positive trajectory of
the company’s results.
Ground breaking of
pipeline project
KARACHI: Prime
Minister Shahid Khaqan
Abbasi will be the chief
Byco
Pakistan
guest at the ground breaking
ceremony of White Oil
Pipeline Mogas Project by
Pak Arab Pipeline
Company Limited
(PAPCO) being held on
Dec 22, 2017 at PAPCO’s
Port Qasim station.
PAPCO intends to
implement this Project in
order to convert its existing
26" dia 786 km long
Memorandum
of
Understanding on Thursday to
provide a framework of cooperation
and to facilitate collaboration.
UN Under Secretary for
ESCAP Dr Shamshad Akhtar Byco’s significant
and Executive Director COM-
SATS Dr. S. M Junaid Zaidi
signed the MoU in a ceremony
growth in profitability has
been the result of significant
efforts in the improvement
held here.
of the company’s
Federal Minister for logistics and imports of
Science and Technology Rana
Tanveer Hussain was the chief
products at market competitive
pricing.
guest on this occasion while
Yasmeen Masood, Federal
Secretary, Ministry for Science
and Technology, Ambassadors
of various countries, UN
Resident Representative and LAHORE: Chief
diplomats from various missions
Minister Gilgit-Baltistan
were present to witness Hafiz Hafeez-ur-Rehman
this important milestone for has invited the private sector
COMSATS. According to to join hands with the government
agreement, ESCAP and COM-
of Gilgit-Baltistan
SATS will promote cooperation
and start flight operation for
in areas of research and this area.
Pakistan
joint publications; organizing While talking to the
and participating in joint events LCCI President Malik Tahir
and conduct capacity building Javaid, Senior Vice
and training workshops. President Khawaja Kharar
ESCAP will also undertake Rashid and Vice President
measures and initiatives to Zeshan Khalil, Chief
strengthen the activities of Minister Gilgit-Baltistan, he
COMSATS including said that Gilgit-Baltistan is
Network of Centres of abundant with huge opportunities
Excellence and consider joint
in tourism, energy
publications and exchange of and infrastructure sectors.
information and documents on He said that PIA operation
issues of mutual interest and
for Gilgit-Baltistan is
experts in various fields. not enough to cater to the
KARACHI: Delegates and research
scholars, around the globe including East
and West Africa, China, Uganda, Spain,
Mauritius, USA and Pakistan are attending
the Conference.
The aim of the Conference is to fill the
White Oil Pipeline (WOP)
for Multi-product use. It is
a strategic nature of project
which involves construction
of new HSD and
Mogas storage tanks,
Gantries for product delivery
and Transmix
Processing Facility including
related civil, mechanical,
electrical, instrument
and control works.
After completion of
WOP MOGAS project,
storage of 255,000 Tons of
fuel capacity will be added
in to system. The project
has significant advantages
for the country and the
energy sector, including
reduced cost of transportation
for Mogas from
Karachi to Mahmood Kot
by less than 50%, bringing
in efficiency, safety, reliability
and improvement in
the logistics system of the
country and reduction in
degradation of road infrastructure,
says a release.
Moot on sustainable business begins
gap between the academia and the industry.
It will provide an opportunity for the
academicians, Research Scholars and
Business Professionals from diverse
fields to share their Research and generate
academic discourse.
RAWALPINDI: People are buying carrots from a vendor at a local market as fresh and
juicy are available during the season.
CM GB for investment in northern areas
needs therefore private sector
should come forward
and avail this opportunity.
Former LCCI President
Mian Shafqat Ali also spoke
on the occasion.
He said that China
Economic
Corridor (CPEC) has generated
lucrative investment
opportunities that must be
availed by the local
investors. Under this project
industrial and economic
zones are being established
which will create ample
employment opportunities
for the people of this area.
On the energy sector,
CM GB said that Gilgit-
Baltistan is not linked with
the national grid which is
the major hurdle of taping
the power generation potential.
He said that GIZ and
WAPDA have identified the
potential of 40,900 MW
through feasibility reports.
He said that establishment
of first grid in Gilgit-
Baltistan is at tender stage.
He said that no serious
work had been done in past
for Diamir Bhasha Dam but
now situation is quite different.
He said that land acquisition
for Diamir Bhasha
has been completed through
transparent way. All record
in this regard is available in
this regard and a huge
amount of Rs. 12 billion is
saved through transparency.
He said that Diamir Basha,
Bujni and Dasu would generate
4500 MW, 7500 MW
and 5000 MW of cheap and
environment friendly electricity
of respectively that
would reduce the oil import
bill.
The LCCI President
Malik Tahir Javaid said that
the region of Gilgit-
Baltistan has immense
importance in geo-economic
and geo-strategic terms.
Geographically, Gilgit-
Baltistan shares borders in
the northeast with China, in
the extreme north with
Wakhan corridor of
Afghanistan, in the west
with KPK province and in
the south and southeast with
Azad Kashmir.