21 Jan 2018

6
Sunday, January 21, 2018
Biz
Pakistan’s major edible oil imports are
from Malaysia and Indonesia: moot told
G U J R A N W A L A :
Defence Minister Khurram
Dastgir Khan has said
Nawaz Sharif is guarantor
of Pakistan development.
“Nawaz Sharif is guarantor
of Pakistan development.
Wherever I go
KARACHI: Group photo of Minister of State for SAFRON Abdul Qadir Baloch, Minister of State for Maritime Affairs
Ch. Jaffar Iqbal, Port Qasim Authority acting chairman Najaf Quli Mirza and other on the occasion 3rd Pakistan
Edible Oil Conference & Global Price-outlook -2018.
KARACHI: A one-day
3rd Pakistan Edible Oil
Conference (PEOC) was
held in Karachi on
Saturday to highlight the
issues being faced by the
industry.
At the conference, leading
and most renowned
speakers and industry
experts presented their
papers and analyzed the
market directions. All the
leading Brands of Pakistan
also set up their stalls on
the sideline of the conference
to showcase their
products. While addressing
the inaugural session
of the conference, Minister
of State for Frontier
Regions Abdul Qadir
Bloch said that with efforts
of the present government,
the security situation in the
country had improved during
the last couple of years
and Pakistan had now
become a favourite place
for the investment.
“Pakistan has fought terrorism
for many years and
conducted several operations
to eliminate the terrorists
and bring peace to
the country. Now, there is
no security issue in
Pakistan and economy is
on the pace of growth," he
added.
The minister said that a
large number of participa-
Nawaz Sharif fragrance
comes”, he said this in a
statement issued here.
He held people know
Nawaz Sharif is guarantor
of prosperity of country.
Nawaz Sharif completed
several uplift projects in
the country.
Is former president Asif
Ali Zardari guarantor of
development in the country,
he questioned.
He went on to say Tahir
ul Qadri has not a single
councilor in the country
tion of foreign delegates in
the conference was also
evidence that Pakistan’s
security situation was
much better than previous
years.
Minister for State for
Maritime Affairs
Chaudary Jaffar Iqbal said
that the government was
fully committed to facilitating
the business community
for long-term economic
growth. He said:
"Presently, three ports,
including Karachi Port,
Port Qasim, and Gwadar
Ports, are fully operational
and are providing state of
the art services to the
traders."
PEOC Chief Executive
Nawaz Sharif guarantor of development
of Pakistan: Khurram Dastgir Khan
Iftikhar re-elected VP SAARC
Chamber for consecutive 6th term
ISLAMABAD: Iftikhar
Ali Malik ,Vice President
of SAARC Chamber of
Commerce and Industry
(SCCI), an apex body of
regional chambers in the
region, sets a new record
in South Asia getting reelected
for the post unanimously
for sixth consecutive
two years term.
According to the notification
of SAARC chamber
issued here by its Secretary
General Hina Saeed
Saturday, SAARC CCI
President Suraj Vaidya, a
leading business tycoon
hailing from Nepal and
SAARC General
Assembly and Executive
Committee members from
India, Bangladesh, Sri
Lanka, Bhutan, Nepal,
Afghanistan and Maldives
with majority votes reelected
Iftikhar Ali Malik
for the sixth term.
Iftikhar also held the
offices of the Presidents
Federation of Pakistan
Chambers of Commerce
and Industry and the
Lahore Chamber of
Commerce and Industry,
took action in line with the
policy of the Federal Minister
Rana Tanveer Hussain.06
units of bottle drinking water
(BDW) M/S Al- Syed Pure
KARACHI: Pakistan
Standards and Quality
Control Authority (PSQCA)
has launched a crackdown on
illegal water companies in
Karachi. Today PSQCAteam Drinking Water,
raided Gulshan e Maymar
area and 6 plants sealed due
to sub standards and illegal
license their total stocks were
seized on the spot. PSQCA
(Al-syed
brand), M/S. R.O water. (R.O
brand), M/s. Dew Fresh
Water (Dew fresh brand),
Ms.Aqua fresh pure drinking
water (Aqua fresh
besides founder President
Pak US Business Council .
He is currently working
as Central Chairman
United Business Group
(UBG). He is also the
chairman of the Guard
Group of Industries and a
chain of Mumtaz
Bakhtawar Memorial Trust
Hospitals.
In his statement,
Iftikhar Ali Malik reiterated
to continue efforts for
greater economic integration
by fully exploiting all
indigenous natural
resources for the progress,
prosperity, development
and welfare of the people
mainly aimed at doing
away with abject poverty
in South Asia.
The SAARC should be
more active to address
major challenges the
region faces, job creation
for the youth of South Asia
and alleviation of poverty,
he added.
brand) Director General
PSQCA Engineer
Muhammad Khalid Siddiq
said that our surveillance
teams were striving to trace
illegal manufacturers of
drinking water and strict
action would be taken
against the companies if
they were found preparing
substandard water.
and even then he has disrupted
the peace of the
entire country. This is trick
of the enemy and the people
have given their verdict
by not participating in
Lahore Mall road public
meeting.
National Bonds to
offer up to 4% profit
in 2017, says CEO
DUBAI: National Bonds
Corporation, a Shariah-compliant
saving and investment
company in UAE, will offer
nearly the same profit rate
for 2017 as in the previous
year, its chief executive said.
"At the moment, we are
aiming to offer profit rate at
nearly the same level as
2016 because we see
increasing interest rates in
the market and want to be
competitive," Mohammed
Qasim Al Ali, CEO of
National Bonds, told
Khaleej Times in an interview.
National Bonds
offered up to four per cent in
annual returns for 2016 to
bondholders.
Al Ali said the company
would invest Dh900 million
to develop real estate projects
in the UAE this year,
with the first project being
launched in Reem Island,
Abu Dhabi. The second
project will come up in
Satwa near City Walk, with
both targeted at the upper
middle class.
In order to ensure a consistent
flow of revenue,
National Bonds plans to rent
out the new developments
rather than sell it, Al Ali said.
PSQCA starts crackdown
Sub standard Bottled water
Companies sealed LAHORE: Pakistan
Railways Minister Khawaja
Saad Rafique Saturday said
that all coaches of trains
would be upgraded in the
next three years under the
upgradation plan. Talking to
the media after inauguration
of the latest upgraded rake
of 9-up/10-Down Allama
Iqbal Express train, which
runs between Karachi and
Sialkot via Narowal, at
Lahore Railway Station, he
said that the PR had spent
Rs 1.5 billion from its own
resources on upgradation of
trains and railway stations
so far.
He said that so far 636
coaches of major trains had
been upgraded while the
state-of-the-art Okara railway
station building would
be inaugurated on Monday.
It would be the second
upgraded railway station
which is being opened for
the public after Sibbi railway
station. He said that
Rasheed Jan Muhammad
said in his welcome:
"Since Pakistan is a very
significant market with
annual consumption of
around four million tons of
edible oil. I strongly
believe that this conference
will be very consecutive
for all stakeholder of
the industry.
Annual Business
Education Conference
to be held in Karachi
ISLAMABAD: The
National Business
Education Accreditation
Council (NBEAC) is
organizing the annual
two-day 5th Deans and
Directors Conference
"Creating Impact with
CPEC" from February
5-6, 2018 at Karachi.
NBEAC was established
by the Higher
Education Commission
in 2007 to assure quality
in business education
degree programmes.
The Conference,
which will bring together
over 100 Deans and
Directors of leading
Business Schools, aims
to evaluate how business
education in
Pakistan is preparing
graduates to contribute
to the local and global
economic activities and
identify unique themes
and specializations for
business education in
Pakistan, keeping local
needs and global trends
in perspective.
Islamabad: Muhammad
Naveed, Senior Vice
President, Islamabad
Chamber of Commerce and
Industry along with Baser
Daud, former President
ICCI called on Barrister
Abid Waheed Sheikh,
Managing Director, Pakistan
Bait Ul Mal (PBUM) and
lauded his valuable services
for the nation.
He said under the leadership
of Barrister Abid
Waheed Sheikh, Pakistan
Raiwind junction railway
station building was about
to complete whereas upgradation
work on
Bahawalpur, Sahiwal,
Nankana and Narowal railway
stations was under
way. The minister said that
rakes of Mehran Express,
Khyber Mail and Akbar
Bugti Express trains would
be upgraded till June 2018.
“By taking steps regarding
punctuality and with
the provision of facilities to
LCCI hopes trade policy
would be business friendly
LAHORE: Lahore
Chamber of Commerce &
Industry has expressed the
hope that upcoming trade
policy will be focused on
enhancement of export
competitiveness of the
country.
In a statement, the LCCI
President Malik Tahir
Javaid, Senior Vice
President Khawaja Khawar
Rashid and Vice President
Zeshan Khalil said that economic
challenges, particularly
low exports and high
trade deficit have underlined
the need for a well-consulted
and powerful trade policy
which can perform as driving
force for the economy.
LCCI Office-bearers
said, government should
realize that the country
needs a paradigm shift to
enable local businessmen to
become globally competitive
and can export those
products which are valued
LAHORE: A high level
delegation of Pakistan
Furniture Council (PFC)
Saturday returned home
from different European
countries including
Germany, Portugal,
Austria, Spain and Italy
after twelve days long
extensive visit aimed at
exploring new markets and
strengthening existing
bilateral trade relations
more in the international
market.
LCCI President Malik
Tahir Javaid said that today
the country’s industry is facing
multiple challenges
including high input cost,
poor innovation, low productivity,
little foreign
investment, lack of product
and geographical diversification.
They said that the
high utility prices are the
major factor therefore the
government should focus on
the issue that has not only
jacked up the cost of doing
business in the country but
also fast making us uncompetitive.
They said that the
government would have to
tackle pressing supply side
constraints including cost of
capital on priority basis for
enhancing competitiveness
as Pakistani merchandise
are fast losing their due
place in the global market
only because their high
with their counterparts in
furniture industry during
business to business contacts.
Talking to newsmen on
his arrival here today, PFC
Chief Executive Mian
Kashif Ashfaq said this
business tour provided
them ample chances to
explore new avenues by
sharing vision, expertise
for formulation of future
prices.
They urged the government
to focus on South
America and African Union
where competition is low
and profits are high. They
said that country’s exports
can become an engine of
growth and prosperity in
Pakistan, if relevant institutions,
both in public and private
sectors implement a
well tailored, well consulted
and widely discussed strategy.
They also suggested
introduction of a new
scheme for exports under
which zero-rated import of
some inputs should be
allowed. They said that a little
attention towards to identification
of new markets for
Pakistani merchandise can
do a lot for the country and
in this regard, Pakistani missions
abroad and the Lahore
Chamber of Commerce and
Industry is ready to play a
proactive role.
PFC delegation returns home after 12-day
business tour of five European countries
policies, economic studies,
sectoral and project specific
reports besides promotional
efforts. He was of
the view that economic and
trade relations between
Pakistan and Europe possessed
great potential and
there was dire need for
Pakistani business community
to focus on improving
their competitiveness in the
European market.
KARACHI: Chairman of Karachi Chamber’s Banking & Insurance Sub-Committee Shaikh
Danish Iqbal presiding over the first meeting of his Sub-Committee at Aiwan-e-Tijarat. In
the Picture, President KCCI Muffasar Atta Malik is seen addressing the meeting while,
Senior Vice President KCCI Abdul Basit Abdul Razzak, Former President Iftikhar A.
Vohra, Deputy Chairman Sub-Committee Hilal Shaikh, former VP Saqib Naseem, Advisors
of the Sub-Committee Pervez Ashfaq, Ateeq ur Rehman, Abdur Rahim ACII, Altaf Hussain
and Secretary General S.M. H. Rizvi are also present at the meeting.
ICCI lauds services of MD Pakistan Bait Ul Mal for society
Bait Ul Mal was taking good
initiatives for poverty alleviation
from the country by
providing various social
safety net services to vulnerable
& under-privileged
people.
He said it was encouraging
that Barrister Abid
Waheed Sheikh has promoted
transparency, efficiency
and accessibility in Pakistan
Bait Ul Mall by introducing
IT integrated system and e-
governance that has greatly
All train coaches to be upgraded in 3 years: Kh Saad
passengers, trust in the railways
has been improved,”
he added. He said that two
more dedicated tenure were
needed for complete rehabilitation
of railways, as it
had become a destroyed
department in 2013.
“But we have saved it
from privatisation with the
efforts of railways workers
and a good team of officers,”
he added. He appreciated
the role of employees.
He said that PR would
facilitated the needy people
including those in need of
urgent medical treatment.
He appreciated Barrister
Abid Waheed Sheikhfor
running some valuable
projects to provide various
social safety services to
orphans, widows, disabled
and other needy persons. It
said it was laudable that
PBUM has established
hundreds of vocational
schools for women empowerment
and national centers
cross the limit of Rs 50 billion
revenue in June 2018.
He said that expenditures
of the department had been
raised; however, there was
a visible stability in the
deficit and earnings.
He said that construction
work of the quarters for
employees was at the last
stage and the current regime
had focused on lower staff
instead of building houses
for the officers. He hoped the
next elected government
for rehabilitation of child
labor to provide free education.
He said PBUM was
disbursing a huge sums of
money to the needy persons
including cancer patients
which was highly laudable.
He hoped that under the
dynamic leadership of
Barrister Abid Waheed
Sheikh, Pakistan Bait ul
Mal would launch many
new projects for the welfare
of needy and deserving
persons.
would also work with the
same spirit for the railways.
To a question about cursing
the parliament by Pakistan
Tehreek-e-Insaf (PTI)
Chairman Imran Khan and
Sheikh Rashid, he said that
all institutions had their
respect as well the parliament;
therefore using abusive
language for the parliament
by any politician meant
cursing himself. About work
on Main Line-1 under
China-Pakistan Economic
Corridor, the minister said
that the PR administration
did not want any haste in
upgradation of ML-1.
“Chinese are our friends but
we have to be careful in signing
any agreement with
them. That’s why a delegation
of four high-level officers
are on making negotiations
with the Chinese side
for and only those decisions
would be made in larger
interest of Pakistan and railways,”
he added.