Trade Chronicle March & April 2015
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www.tradechronicle.com Vol. 62 - Issue Nos. 03 & 04 - <strong>March</strong> & <strong>April</strong> <strong>2015</strong> Rs. 200/-<br />
ESTABLISHED IN MARCH 1953<br />
62 nd -YEAR OF PUBLICATION<br />
PAKISTAN’S LEADING MONTHLY MAGAZINE OF COMMERCE, INDUSTRY & PUBLIC AFFAIRS, KARACHI<br />
Federal Commerce Minister Engr. Khurram Dastgir Khan is cutting the ribbon to inaugurate the 1st Pakistan Mega Leather<br />
Show held in Lahore recently. Picture shows from (L to R) in first row, Muhammad Younus, Chariman PFMA, Muhammad<br />
Musaddiq, Chairman PTA, Chief Guest, S.M. Muneer, CEO TDAP, Mian Muhammad Idrees, President FPCCI, Mr. Gulzar<br />
Firoz, former Chairman PTA and others.<br />
National Disaster Management Authority (NDMA), Chairman, Major General Asghar Nawaz; Aamer Khanzada MD Pegasus<br />
Consultancy and others are cutting the ribbon to inaugurate the Safe Secure Pakistan 11th International Safety & Security<br />
Exhibition & Confernce <strong>2015</strong> at Pak China Friendship Centre in Islamabad, recently.<br />
IN THIS ISSUE<br />
1st Pakistan Mega Leather Show concludes successfully<br />
Pakistan and Sri Lanka sign six agreements of mutual cooperation<br />
Motorways: Backbone of Infrastructure<br />
Pakistan Day resolution and resolve<br />
Prime Minister Nawaz Sharif visits Saudi Arabia: Bilateral relations further strengthen<br />
New water reservoirs by Shakil Durrani Former Chairman of WAPDA<br />
11th International Safety and Security Equipment & Training Industry Exhibition in Islamabad<br />
TDAP to holds international exhibiiton Aalishan Pakistan in UK<br />
PICT realize note-worthy progress in 2014
Vol. 62 Issue Nos. 03 & 04 <strong>March</strong>-<strong>April</strong> <strong>2015</strong> Rs.200/-<br />
<strong>Trade</strong> <strong>Chronicle</strong><br />
PAKISTAN'S LEADING MONTHLY MAGAZINE OF COMMERCE, INDUSTRY & PUBLIC AFFAIRS<br />
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EDITORIAL<br />
1st Pakistan Mega Leather Show concludes successfully<br />
Pakistan and Sri Lanka sign six agreements of mutual<br />
cooperation<br />
Motorways: Backbone of Infrastructure<br />
ARTICLES & FEATURES<br />
Pakistan Day resolution and resolve<br />
Prime Minister Nawaz Sharif visits Saudi Arabia: Bilateral<br />
relations further strengthen<br />
Prime Minister Nawaz Sharif distributes<br />
top companies KSE awards<br />
Pakistan economy shows signs of recovery: ADB<br />
New water reservoirs<br />
by Shakil Durrani former Chairman of WAPDA<br />
1st Pakistan Mega Leather Show concludes successfully<br />
Next PMLS date sets<br />
Chief executive, TDAP inaugurated Pakistan<br />
Ptavilion at Hong Kong<br />
11th International Safety & Security Exhibition & Conference<br />
in Islamabad<br />
TDAP to hold international exhibiiton in UK<br />
Qaim Ali Shah, Sindh Chief Minister inaugurates 12th<br />
My Karachi<br />
REGULAR FEATURES<br />
Shipping and Ports<br />
People Events<br />
Automobile News<br />
Banking & Insurance News<br />
Telecommunication News<br />
Travel World
TRADE CHRONICLE<br />
We begin with the name of Allah the Magnificient<br />
1 ST Pakistan Mega Leather Show<br />
concludes successfully<br />
For the first time, all stakeholders of Pakistan Leather Industry -<br />
Pakistan Tanners Association (PTA), Pakistan Footwear<br />
Manufacturers Association (PFMA), Pakistan Leather Garments<br />
Manufacturers and Exporters Association and Pakistan Glove<br />
Manufacturers and Exporters Association have joined their hands<br />
to organize the 1st Pakistan Mega Leather Show, at the Lahore<br />
International Expo Centre in the first week of <strong>March</strong> <strong>2015</strong>.<br />
The fair concluded successfully and credit goes to all segments of<br />
leather industries and <strong>Trade</strong> Development Authority of Pakistan<br />
(T DAP) for organizing the fair in a befitting manner.<br />
From<br />
Editor's<br />
desk<br />
Earlier, PTA was organizing leather fair in Karachi and PFMA its<br />
Footwear Show in Lahore separately but both fairs fade out from<br />
the scene now due to various reasons.<br />
The three-day 1st PMLS was inaugurated by Federal Minister for<br />
Commerce, Khurram Dastagir Khan, which was aimed to promote<br />
the leather industry and accentuate the country's image worldwide.<br />
Feedbacks from organizers suggest that a good number of<br />
orders have been booked and mega fair will be held on regular basis<br />
to boost up the export of leather industry.<br />
Around 250 Pakistani companies have displayed their products at<br />
300 stalls. Businessmen from Turkey, Russia, China, India, South<br />
Africa, Taiwan and Japan visited the fair apart from a large number<br />
of local businessmen and public.<br />
This is a good sign that industry had assembled at one platform<br />
to organize a single fair instead of holding Footwear show in Lahore<br />
and Tanners show in Karachi separately as in the past. This will<br />
facilitate the organizers to minimize fair expenditure and enable<br />
International buyers to place orders under one roof in a single visit.<br />
However, we suggest that holding of mega leather show should be<br />
organized alternatively in Karachi, Lahore and other cities as<br />
tanners mostly are based in Karachi and footwear in Lahore to<br />
meet their demands respectively.<br />
ABDUL RAB SIDDIQI<br />
The organizer has set date for next mega leather show from 27-29<br />
January, 2016, which is an attractive and ideal date for international<br />
buyers who can visit Pakistan followed by India International<br />
Leather Fair (IILF), which usually takes place in 1st week of February<br />
each year, thus buyers can plan their tours accordingly.<br />
PTA and PFMA should start international publicity of next mega<br />
leather show, in international leather magazines, so that maximum<br />
publicity could be possible, instead of giving the same at the<br />
eleventh hour.<br />
PTA Chairman Muhammad Musaddiq, who was also chairman of<br />
TRADE CHRONICLE - <strong>March</strong>~<strong>April</strong> <strong>2015</strong> - Page # 04
TRADE CHRONICLE<br />
the Steering Committee for<br />
PMLS-<strong>2015</strong>, said that "This show<br />
provided a unique platform for<br />
the Pakistan leather industry<br />
including tanners, footwear<br />
manufacturers, leather garments<br />
and gloves manufacturers,<br />
chemicals companies and other<br />
vendors supplying equipment,<br />
machinery and components to<br />
the leather and its industry’’.<br />
The Group Dialogue between<br />
Pakistan and India was also held<br />
on sidelines of fair with theme<br />
"South Asia-India-Bangladesh-<br />
Pakistan: next HUB for Leather<br />
Footwear". India's Council of<br />
Leather Exports chairman M.<br />
Rafeeque Ahmed specially flown<br />
in Pakistan for the dialogue<br />
while Paksitani sides were<br />
represented by PMFA Chairman<br />
Muhammad Younas, former PTA<br />
chairman Agha Saiddain and<br />
Omar Saeed of the Service<br />
Industries. This provided an<br />
a m p l e o p p o r t u n i t y t o<br />
businessmen of both countries<br />
to share their experience for the<br />
promotion of leather industry<br />
particularly footwear.<br />
On th e oc casi on , T r ad e<br />
Developm ent A utho rit y o f<br />
Pakistan (TDAP) Chairman S.M.<br />
Muneer drew the minister’s<br />
attention to the pending ST<br />
refunds claims worth Rs.110<br />
billion of exporters. He said that<br />
the government co uld not<br />
achieve the export target of<br />
$50b b y 2018- 19 unless<br />
exporters were facilitated. He<br />
said the TDAP could enhance<br />
the country’s exports by up to<br />
$5b if the government made<br />
entire payment of refunds.<br />
We hope government would soon<br />
resolve ST Refund Claim which<br />
is impacting the performance<br />
of all export industries in the<br />
country.<br />
Meanwhile, data from Statistical<br />
Department shows that export<br />
of footwear from Pakistan rose<br />
while export of tanned leather<br />
and leather manufacturing have<br />
recorded negative trend in the<br />
period between July 2014 and<br />
February <strong>2015</strong>. The tanners<br />
during this period exported 14.9<br />
million square-metres of finished<br />
leather, bringing in export<br />
revenues of $352 million. These<br />
figures represent a year-on-year<br />
decline in volume of 18.5% and<br />
a fall in value of just over 3%.<br />
Similarly, exports in finished<br />
leather prod ucts, including<br />
garments, fell in value by 4.8%,<br />
bringing in $412.6 million in<br />
the first eight months of the<br />
current financial year. And<br />
leather footwear exports fell by<br />
7.9% in volume to 8.9 million<br />
pairs. However, the value of the<br />
country’s footwear exports<br />
increased by 18.7% over the<br />
period to reach $89.4 million.<br />
In this way, the average export<br />
price per pair of Pakistan’s<br />
leather footwear increased from<br />
$7.76 in the first eight months<br />
of financial year 2013-2014 to<br />
$10.05.<br />
In last we hope government<br />
would consider with sympathy<br />
number of PTA issues such as<br />
withdrawal of collection of 0.25<br />
percent Export Development<br />
Surcharge (EDS) from the export<br />
proceeds, curtailing power and<br />
gas load shedding, improving<br />
law and order situation, release<br />
of Sales Tax Refund and Duty<br />
Drawback worth billion of rupees<br />
as well as other challenges<br />
causing impediment to the<br />
p ro duction activities and<br />
a cceler at io n o f ex p or t s.<br />
PTA Chairman appealed to the<br />
government to take stock of the<br />
situation and stop immediately<br />
recovery of EDS to enable the<br />
genuine exporters to play their<br />
viable role in the promotion of<br />
exports to achieve the ambitious<br />
target set by the government.<br />
EDITORIAL COMMENTS<br />
Pakistan and Sri Lanka<br />
sign six agreements<br />
of mutual cooperation<br />
Pakistan is the second largest<br />
trading partner of Sri Lanka in<br />
South Asia. Sri Lanka was the<br />
first country to sign a Free<br />
T r a d e A g r e e m en t wi t h<br />
Pak ist an , wh ich be cam e<br />
operational since J une 12,<br />
2005. About 4,000 items can<br />
be imported to Pakistan from<br />
Sri L anka Pakistan and Sri<br />
Lanka. Both countrie’s bilateral<br />
relations have achieved a new<br />
milestone when Sri Lanka<br />
President Maithripala Sirisena<br />
has signed six agreements to<br />
enhance bilateral cooperation<br />
between the two countries in<br />
the fields of sports, shipping,<br />
t o u r i s m , e c o n o m i c<br />
development, anti-narcotics,<br />
d e f e n s e a n d d i s a s t e r<br />
management during his three<br />
days visit to Pakistan recently.<br />
In a joint news conference after<br />
holding talks with President<br />
Sirisena the Pakistan’s Prime<br />
Minister Sharif said Pakistan<br />
attached great importance to<br />
its relations with Sri Lanka and<br />
wants t o have st able and<br />
p ea ce f ul r e la ti o n s wi th<br />
Colombo. He added that these<br />
agreements will pave the way<br />
for further expanding bilateral<br />
ties. The two countries agreed<br />
TRADE CHRONICLE - <strong>March</strong>~<strong>April</strong> <strong>2015</strong> - Page # 05
TRADE CHRONICLE<br />
to increase the current trade<br />
of US$ 438 million to USD 1<br />
billion within the next few<br />
years.<br />
F ed er a t i o n o f P a ki s t an<br />
Chambers of Cmmerce and<br />
I nd sutr y ( FPCCI ) , L ah ore<br />
Chamber of Commerce and<br />
Industry (LCCI) and other trade<br />
bodies termed that the Sri<br />
Lankan President's visit to<br />
Pakistan would strengthen the<br />
economic ties between the two<br />
countries and help overcome<br />
p ov erty challen ges. B o th<br />
governments should evaluate<br />
collaboration in construction,<br />
sugar, cement, paper and paper<br />
board, electronics, software<br />
development, food processing<br />
an d p r es er v at io n , d a ir y<br />
products, LPG cylinders and<br />
storage tanks, mineral mining,<br />
handicrafts, gem and jewellery<br />
a nd liv es t oc k b r eed in g.<br />
The News International in its<br />
recent editorial has pointed out<br />
t h at P aki st an ’ s gr o win g<br />
isolation in the international<br />
community has been a matter<br />
of concern and adversely affects<br />
many aspects of life. Even more<br />
important is the need for friends<br />
close to home, and in this<br />
context the firm handshake<br />
retained with Sri Lanka for well<br />
over a decade is important to<br />
both countries. That handshake<br />
was made firmer as Sri Lanka<br />
became the first country in the<br />
region to sign an agreement<br />
with Pakistan on cooperation<br />
in matters of civil nuclear<br />
technology.<br />
We must point out here that<br />
despite the attack on the Sri<br />
Lankan cricket team in Lahore,<br />
relations between the two<br />
countries continue to be strong<br />
and cordial. The Prime Minister<br />
Nawaz Sharif’s government is<br />
working hard to maintain close<br />
diplomatic ties with its regional<br />
neighbours. The visit of the Sri<br />
L ankan Presid en t at the<br />
invitation of Prime Minister<br />
Nawaz Sharif and President<br />
Mamnoon Hussain and the long<br />
awaited visit of the Chinese<br />
President later this month<br />
sh o ws t he g ov er nm en t’ s<br />
sincerity towards improving the<br />
country’s foreign policy. This<br />
trend should continue and<br />
Pakis tan sho uld p lay an<br />
im portant role in regional<br />
politics and maintain healthy<br />
and balanced relations with all<br />
its neighbours.<br />
Motorways : Backbone of Infrastructure<br />
Pakistan Prime Minister Mian<br />
M uha mm ad Na waz Shar if<br />
during his last regime and in<br />
p resent, always lays great<br />
emphasis on development of<br />
infrastructure in general and<br />
m ot or way s in p art icular .<br />
National Highway Authority<br />
(NHA) is also playing due role<br />
in executing these projects.<br />
Importance can be assessed<br />
the way Prime Minister of<br />
Pakistan Mr. Nawaz Sharif, laid<br />
the foundation stone of first<br />
p h as e o f M -9 M o to r w ay<br />
between Karachi-Hyderabad<br />
will which later be linked with<br />
Lahore. He was also scheduled<br />
to inaugurate Faisalabad –<br />
Gojra Motorway M-4 recently<br />
but could not do so due to his<br />
e n g a g e m e n t i n o t h e r<br />
important matters of national<br />
inter es t. However, it was<br />
inaugurated by Punjab Actg.<br />
Governor R ana M uhammad<br />
Iqbal.<br />
Nawaz Sharif said that his<br />
go vern ment was lay ing a<br />
network of motorways across<br />
t he countr y, which wo uld<br />
reduce the distance between<br />
people and increase interaction<br />
and co mmercial activities<br />
amo ng the pro vin ces. B ut<br />
Govt. should also focus on the<br />
development of dams for cheap<br />
source of hyd el energy and<br />
storage of water and transport<br />
f ac ilit y t h ro ug h m o d er n<br />
Railway system.<br />
Nawaz Sharif said Pakistan had<br />
started building the motorway<br />
in 1991, but after the removal<br />
of his government in 1999<br />
work on ongoing projects was<br />
stop ped and as a result “we<br />
are standing where we have<br />
started 20 years ago, while<br />
other countries, which had<br />
initiated the projects at the<br />
same time, had left us far<br />
behind”. “We ourselves have<br />
cre ated ob sta cles in t he<br />
progress of our country. Now<br />
we have to learn from our<br />
mistakes because we could not<br />
m a ke p r o g r e ss w i t h o u t<br />
ref or m ing our selv es” , he<br />
added.<br />
Needless to say, motorways<br />
provide number of benefits<br />
including enhanced business<br />
activities, economic progress,<br />
inc reas ed em p loy m ent &<br />
business opportunities, saving<br />
of fuel & time and reduce load<br />
on N-5 Highway. The industry<br />
experts and economists have<br />
wisely stressed the need of<br />
private investment for new<br />
motorways and dams in the<br />
country. They said no country<br />
could survive without water<br />
b ut c o ul d li v e w it h o u t<br />
m o t o r w a y s , s o t h e<br />
co nst ruction of m ega dam<br />
should be the top most priority<br />
of the government.<br />
TRADE CHRONICLE - <strong>March</strong>~<strong>April</strong> <strong>2015</strong> - Page # 06
TRADE CHRONICLE<br />
Pakistan Day is celebrated to<br />
remind the Lahore Resolution on<br />
<strong>March</strong> 23 each year. The Lahore<br />
Resolution passed on 23 rd <strong>March</strong><br />
1940 is cons idered a major<br />
milestone in the Muslim struggle<br />
for an independent Muslim state.<br />
This eventually led to the<br />
construction of Minar-e-Pakistan,<br />
a monument to commemorate the<br />
Lahore Resolution. This monument<br />
symbolizes a blossoming flower<br />
a nd r ef l e ct s th e j oy o f<br />
independence and social wellbeing<br />
of the Pakistanis.<br />
After 75 years of resolution and<br />
68 years of independence many<br />
think tanks and scholars label<br />
Pakistan as a nation on collapse<br />
and a failed state. Pakistan ranked<br />
number 12 on a list of the “most<br />
failed states”, according to an<br />
annual report published by Foreign<br />
Policy magazine in 2011. The<br />
amount of corruption, at times<br />
misdirected leade rs hip a nd<br />
forecasting of so-called intellectuals<br />
would have synergized for a normal<br />
nation to actually collapse but what<br />
keeps Pakistan from sinking is a<br />
question. This can only be<br />
answered when we start looking at<br />
those factors which are contributing<br />
to a progressive and forward<br />
looking Pakistan. There is no<br />
denying the fact that Pakistan<br />
seriously suffers from poverty,<br />
illiteracy, energy crisis, over<br />
po pu la tio n, in f la tio n an d<br />
unemployment. Terr or ism in<br />
Pakistan has become a major and<br />
highly destructive phenomenon in<br />
recent years. The whole world<br />
looks at Pakistan as a land of<br />
terrorists. In 1947, Pakistan had 30<br />
million people with per capita<br />
income of 100 dollars. Agriculture<br />
Pakistan Day resolution and resolve<br />
By Waheed Hamid<br />
accounted for almost 50% of<br />
economic output with hardly any<br />
manufacturing, as all industries<br />
were located in India. This newlyborn<br />
feeble Pakistan was unable to<br />
feed 30 million people and was<br />
dependent on imports from the<br />
USA. From there on, we have now<br />
grown to a population of 180<br />
million with few stories of success<br />
and lots of stories of failures.<br />
In this challenging environment,<br />
the negativity gets more projection<br />
and the true performers stop short<br />
of letting people know their part of<br />
story. This phenomenon keeps<br />
in cr ea sin g de pr es s ion a nd<br />
despondency in the society. These<br />
are normal life cycles of any<br />
developing country. However, in<br />
the case of most of the nations,<br />
there are often good things to report<br />
and the intellectuals and researchers<br />
with support of media and<br />
government go out of way to<br />
promote these good things across<br />
the globe. The ridiculous amounts<br />
of shootings in the USA are<br />
balanced off by the success of<br />
Google, Microsoft and Apple. The<br />
financial dilemmas of Greece were<br />
lost in the marketing of the Greek<br />
Islands as a holiday destination of<br />
choice. The child slave industry of<br />
India is brushed under the carpet<br />
in favour of the nation’s growth in<br />
the global s oftwa re boom.<br />
Likewise in Pakistan the stock<br />
market has begun to improve. The<br />
index has crossed 13000, compared<br />
to ar ou nd 7 000 in 20 09.<br />
Dependence on food imports has<br />
been reduced. As per government<br />
figures we estimate our wheat crop<br />
to be 25 million tons and cotton<br />
crop will touch 13 million bales.<br />
The fights against terrorism show<br />
a visible improvement. Overall, the<br />
number of terror attacks in Pakistan<br />
rose from about 1,800 in 2008 to<br />
more than 1,900 attacks in 2009.<br />
Suicide bombings more than<br />
doubled between 2007 and 2009,<br />
jumping from 40 to 84. The suicide<br />
attac ks not only pa ralyze d<br />
government functioning but also<br />
restricted move of law enforcing<br />
agencies and security forces in few<br />
major cities. However, due to<br />
government’s decision and push of<br />
Pakistan army improvement can be<br />
visibly felt today.<br />
The month of Pakistan Resolution<br />
demands to find the ones who show<br />
resolve to help Pakistan grow and<br />
its people flourish. There are 180<br />
million people in Pakistan, 65% are<br />
under the age of 25. The youth of<br />
Pakistan is its strength; it is like a<br />
sleeping giant. At universities like<br />
NED, Hamdard Karachi , Szabist,<br />
TRADE CHRONICLE - <strong>March</strong>~<strong>April</strong> <strong>2015</strong> - Page # 07
TRADE CHRONICLE<br />
NUML, NUST and others the<br />
students are unbelievably intelligent.<br />
They spend their spare time<br />
developing Applications for Android<br />
and Apple. They are involved in<br />
cutting edge technology and no one<br />
in the world knows this. Everyone<br />
knows Abdul Sattar Edhi as a<br />
guardian for the poor but few know<br />
th at he f ounde d th e Ed hi<br />
Foundation, with an initial sum of<br />
a mere five thousand rupees. Edhi<br />
began receiving donations, which<br />
allowed him to expand his services.<br />
The Edhi Foundation is the largest<br />
welfare organisation in Pakistan.<br />
Since its inception, the Edhi<br />
Foundation has rescued over 20,000<br />
abandoned infants, rehabilitated over<br />
50,000 orphans and has trained over<br />
40,000 nurses. It also runs over three<br />
hundred and thirty welfare centres<br />
in rural and urban Pakistan which<br />
oper a te a s f oo d kitc hen s,<br />
rehabilitation homes, shelters for<br />
abandoned women and children and<br />
clinics for the mentally handicapped.<br />
The story of resolve does not end<br />
at donations only. We have<br />
examples of pr ivate business<br />
entrepreneurs which look beyond<br />
financial profitability and count<br />
their contributions for Pakistan and<br />
its people in their overall earnings.<br />
FFC the leading fertilizer producers<br />
of Pakistan, the pioneers in wind<br />
power for Pakistan has a long<br />
history of community uplift. Their<br />
f ocus of C or por ate So cial<br />
Responsibility is education and<br />
health. FFC is nationally and<br />
internationally awarded as a highly<br />
professional, reliable, socially<br />
responsible and ethically correct<br />
company which looks after the<br />
interests of all stakeholders<br />
including the community. Last year<br />
FFC was awarded by SAFA a South<br />
Asian federation for transparency<br />
and corporate governance in South<br />
Asia bringing pride to Pakistan.<br />
FFC has been listed first amongst<br />
the top 25 c ompa nies f or<br />
consecutive fourth year by Karachi<br />
Stock Exchange. FFC is one of the<br />
highest tax payers of Pakistan. It<br />
paid Rs. 43 billion tax last year.<br />
Their signif icant but silent<br />
contributions at time of calamities<br />
usually go unnoticed. Showing<br />
resolve FFC has now decided to<br />
celebrate FFC day and launch its<br />
food preservation products under<br />
the name of FFF in the month of<br />
resolution.<br />
The resolve of few contributors to<br />
uphold the spirit of resolution of<br />
23rd <strong>March</strong> 1940 goes on selflessly.<br />
The gap at gover nment and<br />
intellectual level however needs to<br />
be geared up to ensure such<br />
recognition and capitalize them to<br />
build an environment of hope<br />
showing a way forward to the<br />
Nation.<br />
(Courtesy Business Recorder)<br />
Police station dedicated<br />
for cracking down on gas theft inaugurated<br />
The first- ever Police Station<br />
especially dedicated for penalizing<br />
miscreants involved in natural gas<br />
theft was jointly inaugurated by<br />
Feroze Shah, DIG (West) and<br />
Khalid Rahman, MD, SSGC on<br />
<strong>April</strong> 10, <strong>2015</strong>. The police station<br />
set up by SSGC was the result of<br />
the Company’s year long efforts<br />
aimed at curbing gas theft. Natural<br />
gas theft is one of the primary<br />
reasons behind Unaccounted for<br />
Gas (UFG), a phenomenon that has<br />
severely affected the Company’s<br />
financial bottom-line. The police<br />
station will be responsible for<br />
conducting raids against gas thieves,<br />
lodging FIRs, evidence collection<br />
and presenting challans to the<br />
courts.<br />
I n t h e i r<br />
remarks, MD,<br />
SSGC and DG<br />
( W e s t )<br />
e x p r e s s e d<br />
their utmost<br />
commitment<br />
in wor king<br />
together to<br />
control gas<br />
theft. While<br />
appreciating<br />
S S G C f o r<br />
taking a major<br />
step forward by setting up this<br />
police station, Sindh Police has<br />
gone a step ahead in showing its<br />
determination to expose the gas<br />
theft miscreants by regularly<br />
revealing their names and pictures<br />
Khalid Rahman, MD SSGC and Feroz Shah, DIG Police<br />
(West) jointly inaugurating the first ever Police Station set<br />
up by SSGC to penalize gas thieves.<br />
in the media. The Police Station has<br />
been set up due to the efforts and<br />
constant patronage of Ghulam<br />
Haider Jamali, IG Sindh, Feroze<br />
Shah, DIG (West) and Nauman<br />
Siddiqui, SSP Central.<br />
TRADE CHRONICLE - <strong>March</strong>~<strong>April</strong> <strong>2015</strong> - Page # 08
TRADE CHRONICLE<br />
Prime Minister Nawaz Sharif visits Saudi Arabia:<br />
Bilateral relations further strengthen<br />
Prime Minister Nawaz Sharif<br />
received a warm welcome on his<br />
arrival on a three-day official visit<br />
on the special invitation of Saudi<br />
King Salman Bin Abdulaziz Al<br />
Saud. Leaving aside protocol<br />
norms and as a special gesture<br />
King Salman Bin Abdulaziz Al<br />
Saud, accompanied by his entire<br />
cabinet rece ived the Pr ime<br />
Minister and his entourage at the<br />
King Khalid International Airport.<br />
Also present on the ocassion were<br />
Cr ow n Pr ince Muq r in bi n<br />
Abdulaziz Al Saud, Deputy<br />
Premier, Prince Faisal bin Bandar<br />
bin Abdulaziz, Governor of Riyadh<br />
Region, Prince Mohammed bin<br />
Naif bin Abdulaziz, Deputy Crown<br />
Prince, Second Deputy Premier<br />
and Minister of Interior, a number<br />
of princes, ministers, and senior<br />
officials.<br />
The Prime Minister was presented<br />
a guard of honour by a contingent<br />
of the Royal Saudi Armed Forces.<br />
A h ig h - le v e l de le g a t i o n<br />
accompanying the Prime Minister,<br />
including Finance Minister Ishaq<br />
Dar, Punjab C hief Minister<br />
Shahbaz Sharif and his special<br />
assistants on National Affairs Irfan<br />
Siddiqui, and Foreign Affairs Syed<br />
Tariq Fatemi, was introduced to<br />
the Saudi King.<br />
Later, Prime Minister Nawaz<br />
Sharif discussed bilateral relations,<br />
regional and international issues<br />
with King of Saudi Arabia, Salman<br />
Bin Abdulaziz Al Saud during a<br />
meeting held at King's Palace.<br />
During the meeting, the two<br />
leaders emphasised the importance<br />
of Pakistan-Saudi relations and<br />
vowed to further strengthen mutual<br />
Prime Minister Nawaz Sharif being received by Saudi King Salman bin Abdul<br />
Aziz Al Saud at the King Khalid Airport recently.<br />
co-operation in various fields. PM<br />
Nawaz Sharif expressed his<br />
confidence that during the reign<br />
of King Salman bin Abdulaziz<br />
relations between the two countries<br />
w ould to uch new he ights .<br />
He said that Pakistan and Saudi<br />
Arabia are tied in bonds of shared<br />
faith and enjoy excellent relations<br />
s in ce the inde pende nce of<br />
Pakistan. Being the custodian of<br />
the two holy mosques the Saudi<br />
King has a special place in the<br />
heart of each Pakistani, he added.<br />
Nawaz said Pakistan would like<br />
to further strengthen ties with its<br />
brotherly Islamic country in all<br />
f i el ds p a r tic u la r ly tra d e ,<br />
investment, energy, infrastructure<br />
development and several others.<br />
The Prime Minister thanked the<br />
Saudi leadership for providing<br />
valuable assistance to Pakistan in<br />
the time of need. Saudi Arabia has<br />
a special place among Muslim<br />
Ummah, he added.<br />
The King said that Saudi Arabia<br />
attaches great importance to its<br />
relations with Pakistan and would<br />
l ike to s e e the m f ur t he r<br />
strengthened. He said Saudi Arabia<br />
would like Pakistan to prosper and<br />
develop. The King said that Saudi<br />
A ra bia would be happy to<br />
s trengthen its relations with<br />
Pakistan in all fields of possible<br />
co-operation. He particularly<br />
mentioned the need for increased<br />
interaction between the business<br />
communities of the two countries.<br />
Both the leaders also discussed<br />
matters relating to the region and<br />
a gr ee d that ter r or is m and<br />
extremism are common enemies<br />
and the two countries will continue<br />
to cooperate with each other in the<br />
f ield of security. The Prime<br />
Minister extended an invitation to<br />
the King to visit Pakistan which<br />
he accepted.<br />
TRADE CHRONICLE - <strong>March</strong>~<strong>April</strong> <strong>2015</strong> - Page # 09
TRADE CHRONICLE<br />
Prime Minister Nawaz Sharif<br />
distributes top companies KSE awards<br />
Prime Minister Muhammad Nawaz Sharif giving Awards to the winners at KSE Top 25 Companies Awards Ceremony in<br />
Karachi on <strong>March</strong> 25, <strong>2015</strong>.<br />
Addressing the KSE function,<br />
Prime Minister Nawaz said the<br />
Kar achi operation had been<br />
launched after consultations with<br />
all political parties and it was not<br />
against any party, but criminal<br />
elements.<br />
He said his government’s main<br />
objective was to develop and put<br />
the country on the road to progress<br />
and prosperity. The government<br />
w ould utilis e a ll available<br />
resources to bring improvement to<br />
every sector, he said, adding that<br />
policies being pursued by his<br />
government had started yielding<br />
positive results and were also being<br />
a p p r e c i a te d b y v a r io u s<br />
international institutions.<br />
Chairman Karachi Stock Exchange, Muneer Kamal Presenting a Momento<br />
to Prime Minister Muhammad Nawaz Sharif at KSE Top 25 Companies<br />
Awards Ceremony in Karachi on <strong>March</strong> 25, <strong>2015</strong><br />
He said that in the past no attention<br />
had been given to resolve water<br />
and power crises, but now “we are<br />
pursuing long- and short-term<br />
policies and working on different<br />
pr oje cts to gene r ate mor e<br />
electricity from different sources,<br />
including solar and windmills, coal<br />
and LNG”.<br />
“The people of Karachi are satisfied<br />
with the operation,” he said.<br />
Prime Minister Muhammad Nawaz Sharif giving an Award to Gaith Pharaon at<br />
KSE Top 25 Companies Awards Ceremony in Karachi on <strong>March</strong> 25, <strong>2015</strong>.<br />
TRADE CHRONICLE - <strong>March</strong>~<strong>April</strong> <strong>2015</strong> - Page # 10
TRADE CHRONICLE<br />
Pakistan’s economy shows signs of recovery: ADB<br />
Pakistan’s economy is showing signs<br />
of recovery underpinned by falling<br />
global oil prices and the expected<br />
uptick in regional economic growth,<br />
the Asian Development Bank (ADB)<br />
said in a report released recently.<br />
The Asian Development Outlook<br />
<strong>2015</strong>, ADB’s flagship annual<br />
economic publication, forecasts<br />
Pakistan’s economic growth in <strong>2015</strong><br />
to modestly improve to 4.2 percent<br />
and to 4.5 percent in 2016, “subject<br />
to steady progress in macroeconomic<br />
and structural reforms, and stable<br />
security, political, and weather<br />
conditions.” In 2014, the country<br />
exuded renewed confidence with<br />
higher foreign exchange reserves,<br />
lower fiscal deficit and moderate<br />
inflation. However, gross domestic<br />
product (GDP) growth is still below<br />
the rate required<br />
to abs or b a<br />
growing labor<br />
force, the report<br />
said.<br />
“ We e x p e c t<br />
P a k i s t a n ’ s<br />
ec o n o my to<br />
continue push<br />
forward with a<br />
modest growth<br />
t r a j e c t o r y .<br />
Pakistan needs to<br />
a t t r a c t<br />
investments to<br />
cr e a te job s ,<br />
reduce poverty<br />
a n d b o o s t<br />
economic growth, which to a great<br />
extent depends on continued stability,<br />
a better investment climate and<br />
enabling policy reforms,” said Werner<br />
Liepach, Country Director for ADB<br />
in Pakistan. “Ongoing efforts to make<br />
the power sector financially viable<br />
and reforms of public sector<br />
enterprises through restructuring<br />
and/or privatization are vital for<br />
macroeconomic gains.”<br />
Energy and security challenges<br />
continue to weigh on Pakistan’s<br />
business climate. A key risk to the<br />
fiscal performance stems from the<br />
rebuilding of circular debt, high<br />
security spending, and low revenue<br />
collection.<br />
The report said attracting higher<br />
private investment also requires<br />
policy measures to boost the export<br />
competitiveness of Pakistani<br />
manufacturers, accelerate financial<br />
sector development, increase public<br />
sector investment in infrastructure,<br />
and a competitive exchange rate.<br />
Boosting manufacturing is a key<br />
policy challenge highlighted in the<br />
A DO. Pa kis ta n’s economic<br />
transformation has largely bypassed<br />
deepening and diversification of<br />
manufacturing as it evolved from<br />
agriculture to largely low productivity<br />
services.<br />
Enhancing industrial competitiveness<br />
will require the country to address<br />
policy distortions, lower trade<br />
barriers, create a business-friendly<br />
e nvironment with a s table<br />
microeconomic framework, and<br />
improve infrastructure, access to<br />
finance, and human development, the<br />
report says.<br />
P a k i s ta n i s<br />
implementing an<br />
economic reform<br />
p r o g r a m<br />
underpinned by a<br />
$ 6. 7 bi lli on<br />
Extended Fund<br />
F a c i l i t y<br />
arrangement with<br />
the International<br />
Monetary Fund,<br />
which recently<br />
completed its 6th<br />
review for release<br />
of the 7th tranche.<br />
“ Th e r ob u s t<br />
implementation<br />
of the reform program helped entice<br />
investors’ interest and has facilitated<br />
restoration of program lending from<br />
multilateral donors including the<br />
ADB. Pakistan can use fair winds to<br />
stay on course and continue to<br />
improve its overall macroeconomic<br />
performance,” Liepach said.<br />
TRADE CHRONICLE - <strong>March</strong>~<strong>April</strong> <strong>2015</strong> - Page # 11
TRADE CHRONICLE<br />
New water reservoirs<br />
by Shakil Durrani Former Chairman of WAPDA<br />
Since the development of the Tarbela<br />
water reservoir with the capacity of<br />
nearly nine million acre feet (maf) in<br />
1976, only two new storages have<br />
been built in the country – the raised<br />
Mangla Dam additional storage of<br />
2.8 maf and the Gomal Dam reservoir<br />
of 0.9 maf, both completed in 2011.<br />
It is, therefore, heartening to note that<br />
the present government has<br />
sanctioned a huge sum of Rs55 billion<br />
for the land acquisition cost of the<br />
Diamer-Bhasha Dam. It is hoped that<br />
all remaining privately owned land<br />
measuring nearly 18000 acres will<br />
be acquired quickly and the GB<br />
administration would transfer the<br />
entire state-owned ‘ghair mumkin’<br />
areas to Wapda at the earliest. For<br />
this to happen quickly the number of<br />
land acquisition collectors would need<br />
to be increased four-folds as has<br />
already been suggested.<br />
The population of the country has<br />
risen from 31 million 60 years back<br />
to nearly 190 million today. To this<br />
we add nearly four million hungry<br />
mouths annually. The per capita<br />
availability of water has decreased<br />
five times during this period and today<br />
barely amounts to a thousand cumex.<br />
And every day it shrinks further.<br />
There is no doubt that insufficient<br />
electric power has serious economic<br />
consequences but this shortage is a<br />
mere nuisance compared to the<br />
impending water crisis which could<br />
spell disaster within thirty years.<br />
Today there is a fine balance between<br />
the availability and need of water but<br />
what will happen tomorrow? We will<br />
experience not water scarcity but<br />
water starvation. People will likely<br />
perish of thirst and hunger when the<br />
population reaches 350 million.<br />
Since the World Bank has already<br />
undertaken to provide finances for<br />
the construction of the first phase of<br />
the Dasu Dam costing $6 billion, it<br />
is hoped this work will soon be<br />
started. Even though Dasu will not<br />
store any water, it will be able to<br />
generate about seven billion<br />
electricity units annually in five<br />
years’ time.<br />
The really important project,<br />
however, remains the Diamer-Bhasha<br />
Dam which is expected to store six<br />
million acre feet of water besides<br />
generating 19 billion energy units<br />
from an installed capacity of 4500<br />
megawatt. Fortunately there is<br />
complete national consensus on<br />
building the dam as exhibited in the<br />
Council of Common Interests<br />
decision in July 2010.<br />
It is time now to arrange the finances<br />
for the construction of the Diamer-<br />
Bhasha Dam. This should not be too<br />
serious a problem once the land is<br />
acquired through the government’s<br />
own resources. Pakistan should not<br />
depend any longer on the Asian<br />
Development Bank acting as the lead<br />
donor for the project despite all its<br />
previous commitments. Experience<br />
has shown that though the ADB’s<br />
country’s office in Pakistan remains<br />
enthusiastic for this project its head<br />
off ice in Manila has many<br />
reservations.<br />
Pakistan has already lost six years<br />
talking to the ADB for such<br />
financing. Each year’s delay adds<br />
nearly half a billion dollars to the<br />
cost of the project. What could have<br />
been built for 11 billion dollars earlier<br />
would cost 15 billion today. Hark the<br />
strategist’s advice in not enforcing<br />
an error!<br />
The best course now would be to<br />
request the Chinese government to<br />
provide a loan of $4 billion for the<br />
civil works with the contract<br />
awarded to a reputable Chinese<br />
compa ny – bu t only af ter<br />
competitive bidding. Such a loan<br />
was earlier offered and this amount<br />
would take care of all civil works<br />
including the diversionary tunnels<br />
and the main dam. The electrical<br />
and mechanical equipment and the<br />
switchyard costing another $4<br />
billion could be bought from<br />
efficient European sources through<br />
suppliers’ credits.<br />
The remaining project costs such<br />
as the interest during construction,<br />
consultants’ supervision fees,<br />
environmental mitigation measures<br />
and development of model villages<br />
could be financed by private banks<br />
and other donors including the IDB<br />
and AID. Pakistan can ill afford<br />
further delays on Diamer-Bhasha<br />
and should proceed ahead with<br />
pur pose. At pr esent foreign<br />
consultants are undertaking the ‘due<br />
dili ge nc e’ s tu die s o f the<br />
environment and the engineering<br />
designs of the dam which would<br />
take about 18 months to complete.<br />
There is a debate on whether a roller<br />
compact concrete design or a rockfilled<br />
concrete faced design would<br />
be more suitable for the site. Those<br />
best qualified can decide this.<br />
Between now and the completion<br />
of the Diamer-Bhasha Dam the<br />
provincial governments need to take<br />
cogent steps in conserving our water<br />
resources through pricing of water,<br />
discouraging the cultivation of high<br />
water-use crops like sugarcane and<br />
rice and preventing water pollution.<br />
(Courtesy: “The News”)<br />
TRADE CHRONICLE - <strong>March</strong>~<strong>April</strong> <strong>2015</strong> - Page # 12
TRADE CHRONICLE<br />
1st Pakistan Mega Leather Show<br />
concludes successfully<br />
Pakistan leather industry has potentials for joint venture<br />
By Abdul Rafay Siddiqui<br />
1st Pakistan Mega Leather Show<br />
(PMLS) was concluded successfully<br />
with a positive note from<br />
government and organizers to hold<br />
event on regular basis. The fair<br />
received huge foreign and local<br />
response. During the inaugural<br />
speech, the Chairman, Pakistan<br />
Tanners Association (PTA) and<br />
Chairman, steering committee on<br />
PMLS, <strong>2015</strong>, Mr. Muhammad<br />
Musaddiq has announced next dates<br />
for the show, in Lahore from 27-29<br />
January 2016.<br />
The 1st PMLS took place in<br />
International Expo Centre, Lahore<br />
from 6-8th <strong>March</strong>'<strong>2015</strong>, which was<br />
jointly organized by all allied<br />
stakeholders of Leather Sector of<br />
Pakistan such as Pakistan<br />
Tanners Association - (PTA),<br />
P a k i s t a n F o o t w e a r<br />
Manufacturers Association -<br />
(PFMA) in association with<br />
Leather Garments & Leather<br />
Gloves with the assistance/<br />
patronage of Government of<br />
Pakistan, <strong>Trade</strong> Development<br />
Authority of Pakistan (TDAP).<br />
According to PTA, the outcome<br />
of the show was excellent /<br />
outstanding beyond the<br />
expectation as fully crowded<br />
during 3 days Show in Lahore<br />
w ith local & f or eign<br />
buyers/customers to have<br />
collaboration/joint ventures<br />
between foreign companies &<br />
Pakistani companies.<br />
The show was inaugurated by the<br />
Federal Commerce Minister, Engineer<br />
Khurram Dastgir Khan, which was<br />
Federal Commerce Minister, Engineer<br />
Khurram Dastgir Khan addressing during<br />
1st PMLS.<br />
attended by the Chief Executive,<br />
TDAP, Mr. S.M. Muneer, Mr.<br />
Muhammad ldrees, President, FPCCI<br />
Chairman PTA Mr. Muhammad Musadiq addressing<br />
at 1st PMLS<br />
as well as large number of foreign and<br />
local guests.<br />
Earlier, Federal Commerce Minister,<br />
Engineer Khurram Dastgir Khan<br />
congratulated PTA and Pakistan<br />
Footwear Manufacturers Association<br />
for organizing show in a befitting<br />
manner and assured government<br />
assistance to the leather industry of<br />
Pakistan, which is the second biggest<br />
export-oriented industry in the<br />
manufacturing sector and is third in<br />
its contribution towards the overall<br />
exports of Pakistan.<br />
He expressed the hope that such event<br />
would help exporters to establish<br />
relationship with international partners<br />
and explore new business avenues.<br />
He said Pakistan Export Development<br />
Fund had approved Rs.890 million for<br />
the leather sector.<br />
More than 300 exhibitors took<br />
part in the Show at Lahore in<br />
two different halls earmarked<br />
for the Show at the standard sizes<br />
of booth allocated, while some<br />
of the exhibitors have<br />
customized their booths in<br />
attractive and eye-catching mode<br />
in both halls of the Show.<br />
The turnover of local<br />
traders/buyers/businessmen was<br />
unprecedented average 3000 to<br />
4000 daily, while out of total<br />
exhibitors some of the Exhibitors<br />
have participated from abroad<br />
like Russia, Turkey, Spain, Italy,<br />
Germany, France, South Africa,<br />
Portugal, Taiwan, Japan, India,<br />
China directly or thru their sole agents<br />
in Pakistan.<br />
On the occasion, <strong>Trade</strong> Development<br />
Authority of Pakistan (TDAP)<br />
TRADE CHRONICLE - <strong>March</strong>~<strong>April</strong> <strong>2015</strong> - Page # 13
TRADE CHRONICLE<br />
Chairman S.M. Muneer drew the<br />
Minister’s attention to the pending ST<br />
refunds claims worth Rs.110 billion<br />
of exporters.<br />
The government, he said, could not<br />
achieve the export target of $50bn by<br />
2018-19 unless exporters were<br />
facilitated.<br />
Brief features<br />
In Hall No. 2 all types of gloves and<br />
gloving leather were on display.<br />
Turkish Chemical Manufacturers<br />
displayed tanning chemicals for<br />
tannery. Renowned ALPA, Shafi Reso<br />
Chem, Stahl Chemical, Gulf Chemical<br />
participated with dyes and chemicals.<br />
A photo of dais - shows Engineer Khurram Dastgir Khan Federal Commerce<br />
Minister flanked by Mr. S.M. Muneer Chief Executive Officer TDAP on his left<br />
and Mr. Muhammad Musadiq Chairman PTA on his right and other guests.<br />
Hide and Skin importers and dealers<br />
showed their products. Russian<br />
Leather also participated. Tanning<br />
machine, accessories by local and<br />
foreign were on display.<br />
Large and latest variety of leather bags,<br />
leather goods, belts was also displayed.<br />
Leather Institute from Gujranwala and<br />
National Institute of Leather<br />
Technology from Karachi, Fashion<br />
Design Institute also participated<br />
which designs leather garments and<br />
shoes for local and foreign use.<br />
Tanneries from different cities of<br />
Pakistan, from Karachi, Lahore,<br />
Multan, Sialkot, Kasur, Sahiwal<br />
participated and provided an<br />
opportunity for foreign buyers to visit<br />
one place of leather show<br />
easier to meet the manufacturers of<br />
different cities at one place.<br />
In Hall No. 1 all types of shoes,<br />
Chappal, Syndals, manufactured by<br />
renowned brand like from Stylo,<br />
EPCT, Feroze Footwear, Firhaj<br />
Footwear (Pvt) Ltd., Fircos Shoes (Pvt)<br />
Ltd. Falk Shoes International. Shoemaking<br />
Machines, accessories and<br />
components were also displayed for<br />
local shoe manufacturers.<br />
Indian pavilion was organized in<br />
footwear section which has<br />
demonstrated their shoe material for<br />
shoe manufacturers.<br />
Industrial sewing machines were also<br />
on display for leather garments, shoes<br />
and leather goods.<br />
On the sidelines,<br />
a group dialogue<br />
b e t w e e n<br />
Pak ista n &<br />
Indian was held.<br />
M r . M .<br />
R a f e e q u e<br />
A h m e d ,<br />
C h a i r m a n ,<br />
C ou nc il o f<br />
Leather Exports, India who led the<br />
Indian delegation has found most<br />
productive diaglogue between the two<br />
neighbor countries wherein a large<br />
gathering having senior members of<br />
PTA exchanged views, statistics &<br />
techniques. The aim for holding the<br />
dialogue was to have more close<br />
relations with Indian Leather industry<br />
to cater to the needs each of them.<br />
Group Dialogue on South Asia future hub for leather and<br />
footwear-Mr M. Rafeeque Ahmed, Chairman Indian Council<br />
of Leather Exports is seen addressing.<br />
TRADE CHRONICLE - <strong>March</strong>~<strong>April</strong> <strong>2015</strong> - Page # 14
TRADE CHRONICLE<br />
Firhaj Footwear: A quality shoe maker & exporter<br />
Firhaj Footwear (Pvt.) Ltd. was<br />
established and incorporated in<br />
1989. Since then it is engaged in<br />
designing, manufacturing and<br />
marketing of shoes in the local and<br />
export market. Firhaj Footwear has<br />
the manufacturing capacity of over<br />
2 million pairs per annum. The plant<br />
is based on latest footwear<br />
technology and is equipped with<br />
most modern fully automatic Italian<br />
footwear machinery. Since its<br />
inception Firhaj’smotto has been<br />
quality and customer satisfaction.<br />
Exceptional care is taken in the<br />
selec tion of r aw ma te rial,<br />
components and finished leather.<br />
Fin is he d le at he r f or t he<br />
manufacturing of shoes is selected<br />
under the supervision of highly<br />
qualified and experienced leather<br />
and tanning technologists. Designing<br />
is supervised by highly qualified<br />
international designer from Italy.<br />
Firhaj is also one of the major<br />
exporters of footwear in the country.<br />
The company is exporting shoes to<br />
all major European brands like El<br />
Corte Inglus, Next, Clarks, U.S.<br />
Polo, Wrangler and many others.<br />
We ar e a socially compliant<br />
company and are abiding to all<br />
national and international rules and<br />
regulations.<br />
Firhaj is the only approved vendor<br />
of Wolverine Wor ld Wide in<br />
Pakistan and has the manufacturing<br />
and marketing license for Hush<br />
Puppies and CATERPILLAR and<br />
distribution license of MERRELL,<br />
GEOX and Clarks footwear in<br />
Pakistan, which it retails through its<br />
60 company operated outlets plus a<br />
d eale r sh ip n etwo r k o f 90<br />
independent retailers and top selling<br />
stores in the country. Further Hush<br />
Puppies is also sold on designated<br />
displays at 150 ServisShoes stores.<br />
The company has won numerous<br />
awards for Growth in Business and<br />
Outstanding Performance with<br />
regards to Hush Puppies, we were<br />
also awarded Best Business Growth<br />
in Asia Pacific for Caterpillar.<br />
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TRADE CHRONICLE - <strong>March</strong>~A pril <strong>2015</strong> - Page # 15
TRADE CHRONICLE<br />
Chief Executive, TDAP inaugurated<br />
Pakistan Pavilion at Hong Kong<br />
The formal inaugural ceremony of<br />
Pakistan Pavilion in APLF <strong>2015</strong>,<br />
Hong Kong was jointly inaugurated<br />
by Mr. S.M. Muneer, Chief<br />
Executive, <strong>Trade</strong> Development<br />
Authority of Pakistan and Mr.<br />
Ghufran Memon, Consul General,<br />
Consulate General of Pakistan in<br />
Hong Kong which was also attended<br />
by the Chairman, Pakistan Tanners<br />
Association (PTA), Mr. Muhammad<br />
Musaddiq.<br />
About 70 Pakistani exporters had<br />
participated in APLF’<strong>2015</strong> at Hong<br />
Kong who were dealing in producing<br />
of Finished Leather of Cow, Buffalo,<br />
Sheep skins, Leather Garments,<br />
Leather Footwear, Leather Gloves &<br />
Leather Pr oduc ts /made- ups.<br />
The Chairman, PTA,Mr. Muhammad<br />
Mr. S.M. Muneer, Chief Executive/<strong>Trade</strong> Development Authority of Pakistan and<br />
Mr. Ghufran Memon, Consul General of Pakistan in HK inaugurating the Pakistan<br />
Pavilion in APLF’<strong>2015</strong><br />
Musaddiq also shared that with the<br />
help of Consulate General of Pakistan<br />
in Hong Kong the share of Pakistan’s<br />
exports of Leather has already been<br />
increased by 29.34% in Hong Kong<br />
for the period of July-June 2012-2013<br />
as compared to corresponding period<br />
of previous year.<br />
EXPORT OF LEATHER AND LEATHER PRODUCTS FROM PAKISTAN<br />
DURING JULY-DECEMBER’2013 VIS-A-VIS JULY-DECEMBER’2014<br />
VALUE = (U.S. Dollars in Thousand)<br />
COMMODITIES<br />
LEATHER<br />
LEATHER APPAREL & CLOTHING<br />
LEATHER GLOVES<br />
LEATHER FOOTWEAR<br />
OTHER LEATHER MANUFACTURES<br />
2013<br />
2014<br />
UNIT QTY VALUE QTY VALUE<br />
‘000’ SQM<br />
AUP/Sq.M<br />
‘000’ DOZ<br />
AUP/Pcs<br />
‘000’ DOZ<br />
AUP/Pair<br />
‘000’ Pairs<br />
AUP/Pair<br />
‘000’ KGS<br />
AUP/Kg<br />
JULY-DECEMBER<br />
13,869<br />
722<br />
4,174<br />
3,142<br />
624<br />
251,570<br />
18.14<br />
217,548<br />
25.11<br />
104,538<br />
4.17<br />
44,815<br />
14.26<br />
7,483<br />
11.99<br />
JULY-DECEMBER<br />
11,848<br />
517<br />
3,246<br />
3,778<br />
248,222<br />
20.95<br />
201,964<br />
32.55<br />
106,099<br />
5.45<br />
56,044<br />
14.83<br />
7,816<br />
%<br />
CHANGE<br />
-1.33%<br />
15.50%<br />
-7.16%<br />
29.65%<br />
1.49%<br />
30.51%<br />
25.06%<br />
4.00%<br />
4.45%<br />
TOTAL :<br />
625,954<br />
620,145<br />
-0.93%<br />
Source Pakistan Bureau of Statistics.<br />
TRADE CHRONICLE - <strong>March</strong>~<strong>April</strong> <strong>2015</strong> - Page # 16
TRADE CHRONICLE<br />
SRC successfully<br />
participates in 1st PMLS<br />
SRC is a member of Siddiq Shafi<br />
Group. With over 60 years of<br />
industrial experience. They have<br />
focused on delivering innovative and<br />
technology based solutions while<br />
maintaining its commitment to<br />
honesty & consistency. SRC leading<br />
portfolio of specialty chemicals<br />
delivers a broad range of technology<br />
based products and solutions to clients<br />
for Leather, Shoe, Textile, Adhesive,<br />
Water Treatment and Fr uit<br />
Preservation. They have extensive<br />
portfolio of over 350 products.<br />
A view of seminar organized by SRC in 1st PMLS.<br />
SRC was the platinum sponsor for<br />
the Pakistan Mega Leather Show.<br />
SRC showcased some of new and<br />
exciting products, such as upgrading<br />
skills for leather to save your cost and<br />
earn more profit, Autolux 601,<br />
Splendida P/29, Valvet Shield, leather<br />
tanning machinery and leather lab<br />
drums. SRC and SGS organized a<br />
seminar on REACH & Restricted<br />
Substances on second day of PMLS<br />
15. SRC organized a seminar with the<br />
collaboration of PIFD on the occasion<br />
of Pakistan Mega Leather Show <strong>2015</strong>.<br />
The topic was turning leather into a<br />
fashion statement. A huge number of<br />
Leather industrialists and experts<br />
attended both the seminars.<br />
TRADE CHRONICLE - <strong>March</strong>~<strong>April</strong> <strong>2015</strong> - Page # 17
TRADE CHRONICLE<br />
11th International Safety & Security Exhibition<br />
& Conference in Islamabad<br />
“The risk of disaster happening can be reduced<br />
with better preparation,” said Chairman, NDMA<br />
Pakistan leading event management<br />
company-Pegasus Consultancy<br />
(PVT.) Ltd, has successfully<br />
organised the 11th International<br />
Safety & Security Exhibition and<br />
Conference at Pak-China Friendship<br />
Centre, Islamabad from 10-12<br />
<strong>March</strong> <strong>2015</strong>. It was inaugurated by<br />
Maj Gen. Asghar Nawaz,<br />
Chairman, National Disaster<br />
Management Authority (NDMA).<br />
Maj Gen. Asghar Nawaz, Chairman<br />
NDMA, in his address of welcome<br />
said, “Being a disaster managers<br />
we cannot prevent the disasters but<br />
the risk of happening can be<br />
reduced with better preparation in<br />
response to its effects. The country<br />
is in security crises and this<br />
exhibition is a timely effort”.<br />
Chairman NDMA, appreciated the<br />
role of organiser, Pegasus<br />
Consultancy by bringing together<br />
250 companies from 31 different<br />
countries.<br />
Dr. Rizwan Naseer, Director General,<br />
Punjab Emergency Services &<br />
Emergency Services Academy, guest<br />
of honor, appreciated the role of<br />
Rescue 1122. ”They have managed<br />
thousands of f ire incidents<br />
successfully, but we still need more<br />
professionalism in the safety and<br />
security industry”, he added. “Such<br />
international exhibitions bring an<br />
interactive platform for the exchange<br />
of industry knowledge”, he further<br />
said.<br />
Mr. Anwar A. Ghauri General<br />
Secretary Fire & Security Association<br />
of Pakistan and guest of honor at the<br />
Major General Asghar Nawaz<br />
Aamer Khanzada MD of Pegasus<br />
exhibition appreciated the role of<br />
Pegasus consultancy in organizing the<br />
event and bring local & international<br />
exhibitors third time in Islamabad. ,”<br />
we have witnessed lots of latest<br />
development of technology in fire ,<br />
security and surveillance industries.<br />
In his welcome address, Mr. Aamer<br />
Khanzada Managing Director, Pegasus<br />
Consultancy, extended his pride for<br />
11 years of success of Safe Secure<br />
Pakistan. The safety and security<br />
market holds a significant potential as<br />
several security projects are underway<br />
by law enforcement and private sector<br />
organizations. To strength these<br />
organizations, a U$$ 1.65 billion<br />
import of security and safety<br />
equipment has been witnessed in the<br />
last year. ” Safe Secure Pakistan aimed<br />
to address the Safety and Security<br />
needs of the region by bringing<br />
together major International and Local<br />
Exhibitors to display latest Technology<br />
and Advancement of Homeland<br />
Security, Workplace Safety, Fire<br />
Fighting, Mobility, Rescue and<br />
Emergency”, he further stated.<br />
In concurrence with the exhibition,<br />
there was a Safe Secure Pakistan<br />
Conference which commenced on 11th<br />
<strong>March</strong> <strong>2015</strong> at Pak China Friendship<br />
Centre Islamabad. This international<br />
conference was based on the theme<br />
“Redefining Security with Latest<br />
Technologies”. More than 250<br />
companies from 31 different countries,<br />
including, Australia, Austria, Canada,<br />
China, Czech Republic, Denmark,<br />
Finland, France, Germany, Greece<br />
Hong Kong, Indonesia, Italy, IRAN<br />
KOREA, Malaysia, Norway, JAPAN<br />
Pakistan, Portugal, RUSSIA,<br />
Singapore, South Africa, Sweden,<br />
Spain, Switzerland, Taiwan, Turkey,<br />
UAE, UK, and USA, have displayed<br />
their Brands at the Safe Secure<br />
International exhibition.<br />
The products displayed in the<br />
exhibition include, intelligence<br />
equipment, firefighting equipment,<br />
industrial safety equipment, alarm<br />
s y s te m s , a c c e s s c on t r o l<br />
systems,surveillance cameras, thermal<br />
Imaging cameras, fire resistant door,<br />
industrial safety shoes, fire protection<br />
paints and security soft wares. Later,<br />
Chairman, NDMA, along with the<br />
guests of honors and dignitaries visited<br />
various stalls after formally<br />
inaugurating the show.<br />
TRADE CHRONICLE - <strong>March</strong>~<strong>April</strong> <strong>2015</strong> - Page # 19
TRADE CHRONICLE<br />
Exhibitors received good orders<br />
at 11th International Safety and Security Exhibition<br />
Foreign exhibitors<br />
s ee l ots of<br />
potential for their<br />
products and<br />
technology in the<br />
g r o w i n g<br />
requirement for<br />
S a f e t y a n d<br />
Security market in<br />
Pakistan, saying<br />
that they had<br />
received good<br />
business on the<br />
2nd Day, at Safe<br />
Secure Pakistan-<strong>2015</strong>, exhibition<br />
which was held at Pak-China<br />
Convention Centre, Islamabad.<br />
In concurrence with the exhibition,<br />
an International Safe Secure,<br />
conference was also held at Pak-China<br />
Convention Centre,featuring the<br />
theme, “Redefining Security with<br />
Latest Technologies”.<br />
The 5th edition of the conference had<br />
an exclusive session on security of<br />
aviation industry along with other<br />
A view of stall at Safe Secure Pakistan-<strong>2015</strong>, Exhibition held at Pak-China<br />
Convention Centre.<br />
sessions which included, building safer<br />
cities through unified communication<br />
systems, technological advancement<br />
for safer cities, Pakistan in the recent<br />
fire & industrial safety environment:<br />
Problems & Challenges.<br />
Eminent speakers had presented their<br />
Papers fr om both local and<br />
international organizations like Civil<br />
Aviation Authority, Pakistan<br />
International Airlines, Emergency<br />
Services Punjab, Security 2000, Tajs<br />
West Coast, Havelsan Inc. Turkey,<br />
P r o l i n e<br />
I n f o r m a t i o n<br />
Systems-Turkey,<br />
M o t o r o l a<br />
Solutions-UAE,<br />
SchrackSeconet<br />
A g - A u s t r i a ,<br />
I n s ti tu t e o f<br />
B u s i n e s s<br />
Resilience-UAE<br />
a n d B u t l e r<br />
E ng i n e e r i n g<br />
UAE.<br />
Mr. Furkan Celebi, international sales<br />
& investment director from Turkey,<br />
representing, Proline Information<br />
Systems,sees lots of potential in the<br />
local market for the technology his<br />
company is offering.“We are here in<br />
the exhibition for the first time, we<br />
have introduced safe city concept in<br />
Pa ki s ta n , ou r co m pa n y is<br />
offering,safe city parameters, gate<br />
securities”, he added. “Pakistan is<br />
now in the current security situation<br />
seems to be a big market for us”,<br />
he observed.<br />
Safe and Secure Exhibition concludes successfully<br />
The three-days 11th International Safe<br />
Secure Pakistan-<strong>2015</strong>, exhibition<br />
concluded at Pak-China Convention<br />
Centre, Islamabad, on a very<br />
successful note.<br />
The positive presence of foreign<br />
exhibitors at the exhibition view<br />
Pakistan as a potential market for this<br />
sector as the local market has become<br />
quality conscious and are investing in<br />
latest safety, security and surveillance<br />
technology, they are glad over positive<br />
response during the exhibition.<br />
Visitor Profile Includes: ex-Prime<br />
Minister of Pakistan, Syed Yousuf<br />
Raza Gilani, DG DEPO, (Defense<br />
Export Promotion Organization), DIG<br />
Motorway Police, Additional I G<br />
Police Azad Jammu Kashmir, CEO<br />
Lady Reading Hospital, Peshawar,<br />
Deputy Commandant FC, DIG<br />
Logistics, KPK.<br />
Diplomats from Russia, France,<br />
Bangladesh, Italy, Denmark, Australia,<br />
& Ukraine, have also visited the<br />
exhibition and showed keen interest<br />
in latest displayed technology and<br />
appreciated the Third sequel of Safe<br />
Secure Pakistan-<strong>2015</strong>.<br />
<strong>Trade</strong> Visitors took interest in the<br />
products being siplayed at Safe<br />
Secure Pakistan-<strong>2015</strong>, Exhibition<br />
held at Pak- China Convention<br />
Centre.<br />
TRADE CHRONICLE - <strong>March</strong>~<strong>April</strong> <strong>2015</strong> - Page # 20
TRADE CHRONICLE<br />
Qaim Ali Shah, Sindh Chief Minister<br />
inaugurates 12th My Karachi<br />
The 12th sequel of My Karachi<br />
Oasis of Harmony exhibition of<br />
the Karachi Chamber of Commerce<br />
and Industry (KCCI) concluded on<br />
12th <strong>April</strong>, <strong>2015</strong><br />
at Karachi Expo<br />
Center in which<br />
local and foreign<br />
e x h i b i t o r s<br />
showcased their<br />
pr oducts a nd<br />
services.<br />
The three-day<br />
long exhibition<br />
p r o v i d e d a<br />
perfect platform<br />
for business-tobus<br />
ines s a nd<br />
b u s i n e s s - t o -<br />
consumer meetings, besides<br />
providing recreational facilities to<br />
K a r a c h i i t e s w h o h a d<br />
overwhelmingly participated in<br />
this glittering event.<br />
The inauguration ceremony was<br />
presided over by the Chief<br />
Minister Sindh, Syed Qaim Ali<br />
Shah. The session was attended<br />
by a large number of business<br />
tycoons, diplomats and a large<br />
number of representatives of<br />
media for the coverage of the<br />
event.<br />
Zubair Motiwala, a leading<br />
business figure of the city, on<br />
this occas ion inf orm ed the<br />
audience that for the first time,<br />
they had receive so much support<br />
from international countries, as 19<br />
countries had shown interest in<br />
participating in this exhibition.<br />
Responding to the burning issue<br />
of scarcity of water raised by the<br />
b us in es s co mm un ity,C h ie f<br />
Minister Sindh Qaim Ali Shah<br />
said, “We have initiated K-4 mega<br />
water supply project; 50% of its<br />
Chief Minister Sindh Qaim Ali Shah is cutting ribbon to inaugurate My<br />
Karachi Oasis of Harmony.<br />
cost have to be provided by the<br />
federal government and the rest by<br />
Siraj Kassam Teli,<br />
Former President KCCI<br />
t h e S i n d h g o v e r n m e n t .<br />
Government of Sindh has provided<br />
the money and we have started<br />
working on it but we still expect<br />
from the federal government to<br />
provide due finance in order to<br />
complete the project within time<br />
as the project is pending since last<br />
20 to 25 years”.<br />
TRADE CHRONICLE - <strong>March</strong>~<strong>April</strong> <strong>2015</strong> - Page # 21<br />
Highlighting the journey of My<br />
Karachi exhibition, Chairman<br />
Businessmen Group & Former<br />
President KCCI, Siraj Kassam Teli<br />
r e ca lled tha t<br />
d u r i n g h i s<br />
western media.<br />
t e n u r e a s<br />
President KCCI<br />
in 2004, he felt<br />
there was a need<br />
to change the<br />
n e g a t i v e<br />
perception about<br />
K ar ach i city,<br />
w hich mainly<br />
emerged due to<br />
n e g a t i v e<br />
pr ojection by<br />
t h e m e d i a ,<br />
particularly the<br />
KC C I h as be e n r e gu lar l y<br />
organizing this exhibition without<br />
any commercial objective but with<br />
a vision to promote the positive<br />
image of Karachi and the tag line<br />
of ‘Made in Pakistan’ worldwide,<br />
he added.<br />
President KCCI Iftikhar Ahmed<br />
Vohra said that My Karachi<br />
exhibition <strong>2015</strong> had provided an<br />
excellent chance to explore true<br />
trade potential of Karachi in<br />
particular and Pakistan in general,<br />
which was home to natural beauty,<br />
traditions and cultural heritages.<br />
Chairman Special Committee for<br />
My K a r a c h i E x h ib i t io n ,<br />
Muhammad Idrees stated that<br />
more than 300 stalls showcasing<br />
Pakistani products and services<br />
had been established at this year’s<br />
exhibition which was spread over<br />
all six halls of the Expo Center.
TRADE CHRONICLE<br />
TDAP to hold international exhibition Aalishan Pakistan in UK<br />
In order to get maximum benefits from<br />
the GSP Plus status, <strong>Trade</strong><br />
Development Authority of Pakistan<br />
(TDAP) has planned to hold an<br />
international exhibition in UK to attract<br />
European buyers. S.M. Muneer, Chief<br />
Executive (CE) TDAP during his visit<br />
at Karachi Press Club recently said<br />
that "Aalishan Pakistan" exhibition<br />
will be held in June this year in London<br />
and Prime Minister Mian Nawaz<br />
Sharif has been requested for<br />
inauguration of this mega event.<br />
"This exhibition will help Pakistani<br />
exporters to get maximum benefits<br />
from GSP plus status, granted by EU<br />
for ten years", he added. Talking the<br />
major hurdles in the economic revival,<br />
he said that uncertain economic<br />
policies, poor law and order situation,<br />
energy crisis and political uncertainty<br />
are directly hurting the industrial and<br />
economic growth. However, he<br />
appreciated the federal government's<br />
efforts to end energy crisis and said<br />
that govt has initiated several new<br />
power projects, which will help to<br />
enhance domestic industr ial<br />
productivity.<br />
Muneer said that delay in refund<br />
payment is hampering Pakistan's<br />
exports. The country can enhance its<br />
exports by 4 to 5 billion dollar in next<br />
couple of years by settling pending<br />
refund claims, he added. He said that<br />
TDAP has been making efforts for<br />
timely release of refund claims and<br />
hopefully this issue will be resolved<br />
soon. Replying, a question he said that<br />
Karachi operation is a good initiative<br />
by the federal and provincial govt and<br />
all law enforcement agencies are<br />
making efforts to restore peace in the<br />
economic hub of the country. With<br />
these efforts target killing has been<br />
reduced in the city, while kidnapping<br />
S.M. Muneer<br />
and ransom cases have also been<br />
declined significantly. Talking about<br />
the Expo Pakistan exhibition, CE said<br />
that recently TDAP has successfully<br />
organised the Expo Pakistan at a lower<br />
cost compared to previous year.<br />
Overall some Rs 150 million has been<br />
spent on this event as against Rs 250<br />
million last year, while this year some<br />
790 foreign delegates attended this<br />
mega event and placed orders worth<br />
$1.3 billion. "Despite worsening law<br />
and order situation and internal security<br />
issues, foreigners are ready to invest<br />
and establish business relations with<br />
Pakistani exporters and traders", he<br />
added.<br />
On the occasion, Rahim Jano senior<br />
vice chairman the Federation Pakistan<br />
Chamber of Commerce and Industry<br />
(FPCCI) said that despite decline in<br />
the rice prices worldwide, Pakistan's<br />
rice exports will maintain its last year<br />
level. Presently, Pakistani exporters<br />
are facing a tough competition as India<br />
and Vietnam have also cut their rice<br />
prices to capture the international<br />
market.<br />
Zubiar Tufail vice president FPCCI<br />
said that declining world oil prices has<br />
given an opportunity to reduce our<br />
import bill and to overcome the<br />
energy crisis. He said that overseas<br />
Pakistanis are contributing in the<br />
economic development by sending<br />
billions of dollar remittances<br />
annually. "Overseas Pakistanis have<br />
sent some $11 billion during this<br />
fiscal year and expected to send some<br />
$8 billion in remaining five months.<br />
It has been estimated that overall<br />
remittances will reach about $19<br />
billion by the end of this fiscal year<br />
compared to $15 billion last fiscal<br />
year", he added. Tufail said that still<br />
billions of dollars are being remitted<br />
through illegal channels and govt can<br />
divert these remittances toward legal<br />
channels by offering a better exchange<br />
rate to overseas Pakistan.<br />
Khalid Tawab former vice president<br />
FPCCI said that govt should include<br />
business community and federation's<br />
proposals in the next budget. He said<br />
that govt can bring the economy on<br />
right track by implementing FPCCI<br />
budget suggestions.<br />
Ubaidullah Qadri leading gem and<br />
jewellery exporter said that Pakistan<br />
has billions of dollars mines of<br />
precious stones in the northern areas;<br />
however it is being exported without<br />
value addition. "Even India's gem<br />
export is higher than Pakistan's total<br />
exports.<br />
Gulzar Feroz spokesman of UBG said<br />
that after successful experience of<br />
TDAP, govt should depute reputed<br />
businessmen in other loss making<br />
institutions to improve their<br />
performance. On the occasion<br />
President KPC Fazil Jamili, Secretary<br />
A H Khanzada, vice president Nawab<br />
Qureshi, member governing body<br />
Sajjad Abbasi, Kafiluddin Fezain,<br />
Siddique Chaudary and others were<br />
also present.<br />
TRADE CHRONICLE - <strong>March</strong>~<strong>April</strong> <strong>2015</strong> - Page # 23
TRADE CHRONICLE<br />
PROMOTION OF SCIENCE AND TECHNOLOGY STRESSED<br />
Ms. Shamim Kazmi addressing on “Natural Resources–rich country and rapid advancement towards progress and<br />
development”, under the presiding over by Justice (Rtd) Haziqul Khairi at a local hall. Mrs. Sadia Rashid, President,<br />
Hamdard Foundation Pakistan and Mahdi Masud, former ambassador of Pakistan are also present on this occasion.<br />
Speakers at the meeting of Shura<br />
Hamdard Karachi chapter urged the<br />
government to promote education<br />
of science and technology as without<br />
the help of science & technology the<br />
country would not be able to explore<br />
and utilize its tremendous natural<br />
resources.<br />
The meeting was held on <strong>March</strong> 12,<br />
<strong>2015</strong> on the theme: “Natural<br />
Resources–rich country and rapid<br />
advancement towards progress and<br />
development”, presided over by<br />
Justice (Rtd) Haziqul Khairi at a<br />
local hall. Speaking on the occasion,<br />
Justice (Rtd) Haziqul Kairi said, the<br />
biggest human resource in the world<br />
is human brain and by using this<br />
Japanese have made tremendous<br />
progress though they do not have<br />
any mentionable natural resources<br />
even then they achieved the status<br />
of most developed nation in the<br />
world. ‘They have a monopoly on<br />
manufacturing and selling of motor<br />
cars in the world to such an extent<br />
that American roads are now filled<br />
with Japanese cars and as a result of<br />
this development the American car<br />
manufacturing industry has gone<br />
down, he added.<br />
Mrs. Sadia Rashid, President,<br />
Hamdard Foundation Pakistan said<br />
that according to a saying of Hakim<br />
Said “Pakistan was bestowed upon<br />
with all those bounties and natural<br />
resources, mentioned in Holy Quran<br />
by Allah Almighty”. But utilization<br />
of all these bounties and natural<br />
resources could not be turned to<br />
account effectively without applying<br />
k nowledge of sc ie nce and<br />
technology. So it was imperative that<br />
education of science and technical<br />
education should be encouraged and<br />
introduced from primary classes and<br />
onwards, she asserted.<br />
Mahdi Masud, former ambassador<br />
of Pakistan said that human character<br />
was more important than brain,<br />
because without good character<br />
human brain could not be positively<br />
used. National character plus chain<br />
of command were responsible for<br />
national growth and prosperity.Prof.<br />
Mohammed Rafi was of the view<br />
that ours was an Islamic society even<br />
then tell a lie, corruption, deception,<br />
dishonesty and extremism were on<br />
high pedestal in the society though<br />
Islam strictly had prohibited all these<br />
things, because of our negligence<br />
that we did not follow true Islam.<br />
Wrong use of natural resources was<br />
also a negation of God’s bounties,<br />
he maintained. Commodore (Rtd)<br />
Sa eed A nwa r Malik while<br />
highlighting the natural resources of<br />
Pakistan said that we didn’t have the<br />
skills to develop raw material so that<br />
our crude marble was being sold on<br />
20 fold prices after polishing it in<br />
Italy and that’s what was being<br />
happened to our other minerals and<br />
natural products. Our biggest natural<br />
resource was our strategic position,<br />
but we didn’t take full advantage out<br />
of this yet, he contended.Dr. Shahid<br />
Hassan Siddiqui, an economist said<br />
that God given us natural resources<br />
with great generosity. But no<br />
governments had ever made longterm<br />
plans to explore and utilize<br />
them, because of lack of political<br />
will. International monetar y<br />
institutions had also discouraged us<br />
in this regard, he observed.Haq<br />
Nawaz Akhtar, former Chairman,<br />
Pakistan Steel Mills said that a good<br />
natural resource of Kalabagh Dam<br />
was lost on the alter of provincial<br />
polarization, resulting in heavy loss<br />
of waters coming down from floods<br />
and rains. This water also spoiled<br />
our fertile lands by increasing<br />
salinity and getting ground water’s<br />
level up, he added. In spite of making<br />
motorways it was more useful to<br />
draw a railways’ network around the<br />
country, he suggested.Ms. Shamim<br />
Kazmi, M. Abul Fazal and Anwar<br />
Aziz Jakartawalla also spoke.<br />
TRADE CHRONICLE - <strong>March</strong>~<strong>April</strong> <strong>2015</strong> - Page # 24
TRADE CHRONICLE<br />
PICT realizes<br />
note-worthy progress<br />
in 2014<br />
Pakistan International Container<br />
Terminal Limited (PICT) has<br />
realized note-worthy progress during<br />
the year 2014 in every function of<br />
the organization. Capt. Haleem A<br />
Siddiqui Chairman of PICT has said<br />
“By the grace of ALLAH and with<br />
t h e<br />
com bined<br />
effort and<br />
capability<br />
o f o u r<br />
employees,<br />
t h e<br />
C om p an y<br />
handled the<br />
h i g h e s t<br />
volume of<br />
6 9 9 , 8 5 2<br />
T E U s<br />
( T w e n t y<br />
F o o t<br />
Equivalent<br />
Container<br />
Units ) in<br />
P I C T ’ s<br />
history”.<br />
He stated<br />
that despite<br />
t h e<br />
competitive economic and trade<br />
conditions globally and within the<br />
country, the efforts were made by<br />
the Management of PICT for<br />
achieving growth in the containers<br />
handled together with sustained<br />
revenues and profits of the Company<br />
in the financial year 2014.<br />
PICT endeavors to achieve more<br />
business volumes and ensur e<br />
business enhancement, keeping in<br />
view the same priority to add<br />
Shipping & Ports<br />
shareholder value by reinvesting<br />
part of our earnings in the<br />
Company to support our expansion<br />
plans in order to maintain and<br />
capture a significant share in<br />
growth in Pakistan’s container<br />
volume.<br />
The Directors of the company have<br />
recommended final cash dividend<br />
@35% (Rs.<br />
3. 5/ - pe r<br />
o r d i n a r y<br />
share) for<br />
t he y e a r<br />
e n d e d<br />
De ce mbe r<br />
31, 2014.<br />
It said 2014<br />
was another<br />
year of good<br />
performance<br />
for PI CT,<br />
thanks to a<br />
consis tent<br />
strategy, a<br />
s t a b l e<br />
m a n a g e -<br />
ment team,<br />
suppor tive<br />
c l i e n t s ,<br />
cus tomer s<br />
and shareholders.<br />
The<br />
Board remains confident in the<br />
continuous success of the Company<br />
in years ahead.<br />
Future Plans<br />
Consistent with the historical<br />
achievements, the Company<br />
endeavors to maximize efficiencies<br />
and improve its services to its<br />
customers through streamlined<br />
systems and to achieve higher<br />
standards of productivity.<br />
Janmohammed<br />
nominated chairman<br />
PSC of FPCCI<br />
Abdul Rasheed Janmohammed has<br />
been nominated as Chairman,<br />
Pakistan Shippers’ Council (PSC) of<br />
FPCCI for the year <strong>2015</strong> by the<br />
President of Federation of Pakistan<br />
Chambers of Commerce & Industry<br />
(FPCCI) Mian Adrees.<br />
PQA invites bids<br />
for new boats<br />
Port Qasim Authority (PQA) has<br />
issued tender for procurement of four<br />
(04) new boats (RHIB type) for<br />
security / patrolling & escorting of<br />
LNG vessels in PQA channel /<br />
approaches. PQA invited offer for<br />
supply of 04 Nos. new boats (RHIB<br />
Type) from experienced Firms /<br />
Suppliers / Ship Building Yards which<br />
are technically and financially sound.<br />
The offered boats should possess<br />
characteristics and other details as<br />
per tender document. Security Boat<br />
complying the specifications given<br />
in this tender, should be capable for<br />
sustained / uninterrupted operation<br />
at 35 to 40 knots on both voyage from<br />
service jetty to PQA outer channel,<br />
having overall length of 8 to 10<br />
meters, Beam 2.5 ~ 3 meters, newly<br />
built, RHIB type, of proven design,<br />
robust structure.<br />
TRADE CHRONICLE - <strong>March</strong>~<strong>April</strong> <strong>2015</strong> - Page # 25
TRADE CHRONICLE<br />
Gwadar Port: GPA<br />
Chairman highlights<br />
snags in project<br />
China expresses interest<br />
in KPT projects<br />
A high-level Chinese expert group<br />
during their visit to Karachi Port<br />
recently expressed keen interest in<br />
future projects, especially in the<br />
c on s t r u c tio n of el e va t e d<br />
expressway to provide connectivity<br />
to Pakistan Deep Water Container<br />
P o r t<br />
( P D W C P ) .<br />
Headed by Hu<br />
Dong sheng ,<br />
D e p u t y<br />
D i r e c t o r -<br />
Ge ne r al of<br />
C h i n a<br />
Development<br />
Bank, the 21-<br />
member delegation, comprised<br />
member s f r om the Chines e<br />
ministry of f or eign aff airs,<br />
transport, agriculture, industry,<br />
information technology, planning<br />
and research.<br />
Karachi Port Trust (KPT) chairman<br />
Vice Admiral (retd) Shafqat Jawed<br />
and Ports and Shipping Director-<br />
General Abdul Malik Ghauri<br />
informed the delegates about<br />
KPT’s role and contribution in<br />
country’s trade and commerce.<br />
The KPT chairman stated that the<br />
Karachi Port would be capable of<br />
handling bigger post-Panamax<br />
mother ships by the end of this<br />
year when the first phase of deepwater<br />
container port is expected to<br />
be completed.<br />
He said that the new port would<br />
open up avenues for trade and<br />
commerce of<br />
the country<br />
and pave way<br />
for the port to<br />
b e c o m e<br />
transshipment<br />
hub of the<br />
region.<br />
The chairman<br />
said that the<br />
decision to develop deep-water<br />
container port was timely as the<br />
Karachi Port was strategically<br />
located and would meet the needs<br />
of growing Asian economies.<br />
Responding to some of the question<br />
raised by the visiting Chinese<br />
delegation members, the KPT<br />
cha ir man said the elevated<br />
expressway project besides giving<br />
connectivity to PDWCP would also<br />
address the traffic forecasts and<br />
congestion at the port.<br />
The G wadar Por t Authority<br />
(GPA) has admitted that the port<br />
is enjoying free zone status, with<br />
huge incentives, including a 100<br />
percent tax exemption on import<br />
an d e xpo r t, but f aile d i n<br />
attracting investment. This was<br />
stated by GPA Chairman Dostain<br />
Jamaldini while br iefing the<br />
National A ssembly Standing<br />
C o mm it te e on P o r ts a n d<br />
Shipping, which met with Syed<br />
Ghulam Mustafa Shah in the<br />
chair recently.<br />
Th e Minis try of Por ts an d<br />
Shipping as well as GPA also<br />
admitted that Gwadar Port would<br />
not be fully operational shortly<br />
due to absence of basic utilities,<br />
allied inf rastr uctur e and rail<br />
connectivity.<br />
Th e minis tr y of Por ts an d<br />
Ship ping a nd its at tac he d<br />
departments proposed 17 projects<br />
un d e r t he P u bl ic S e c to r<br />
Development Program (PSDP) in<br />
the fiscal year <strong>2015</strong>-16 worth Rs<br />
17.225 billion including a n<br />
equivalent of Rs 14.6 billion<br />
foreign exchange component and<br />
Rs 2.52 billion local component.<br />
The ECNEC has approved the<br />
construction of the Ea stba y<br />
Exp r e s s wa y, B r ea k wa te r s ,<br />
Capital Dredging of Berthing<br />
Area & Channel for additional<br />
Terminal, Pak-China Technical<br />
& Vocational Institute at Gwadar<br />
and establishment of CPEC PMU<br />
in GPA/Ministry of Ports and<br />
Shipping.<br />
TRADE CHRONICLE - <strong>March</strong>~<strong>April</strong> <strong>2015</strong> - Page # 26
TRADE CHRONICLE<br />
Arif Elahi assumes charge<br />
of PNSC Chairman<br />
Arif Elahi,<br />
a n e x p e -<br />
r i e n c e d<br />
C i v i l<br />
Servant, has<br />
assumed the<br />
ch ar ge o f<br />
P a k i s t a n<br />
N a t i o n a l<br />
Arif Elahi<br />
S h i p p i n g<br />
Corporation<br />
(PNSC) Chairman here recently.<br />
The se as one d b ur ea ucr a t's<br />
appointment finalised as Chairman<br />
Siddiqui Memmon transferred to<br />
Sindh government.<br />
A former secretary at provincial<br />
Labour department, Elahi's last<br />
assignment was chair man of<br />
Ex po r t P r o c es s i ng Zo n es<br />
Authority (EPZA).<br />
Abbas Raza appointed<br />
NTC Chairman<br />
Abbas Raza has been appointed<br />
C ha i r ma n N a tio na l Ta r iff<br />
C ommis s ion ( NTC) on th e<br />
r e c o m m e n - d a t io n o f t h e<br />
selection committee headed by<br />
Finance Minister Ishaq Dar, said<br />
a p r e s s r e le a s e r e ce n tl y.<br />
Mr Ra za has a wide- r ang e<br />
experience in tariffs and federal<br />
taxes, tariff policy and protection<br />
analysis, GATT/WTO and trade<br />
remedy laws, matters pertaining<br />
to Pakistan’s trade and industry,<br />
applied governance and anticorruption<br />
initiatives.<br />
People & Events<br />
Siddique Memon assumes<br />
as Sindh Chief Secretary<br />
Mohammad<br />
S i d d i q u e<br />
M e m o n<br />
assumed his<br />
r e s p o n s -<br />
ibility as the<br />
new Chief<br />
Secretary of<br />
S i n d h<br />
recently.<br />
Muhammad<br />
Siddique Memon<br />
Muhammad Siddique Memon is the<br />
54th Chief Secretary of Sindh, since<br />
1936, the year when Sindh was<br />
separated from Bombay presidency<br />
and also the 38th to assume the charge<br />
since abolition of one unit in the<br />
country on July 1, 1970.<br />
Hameed Haroon<br />
re-elected APNS president<br />
The Annual<br />
Meeting of<br />
the APNS<br />
G e n e r a l<br />
Council held<br />
on <strong>March</strong> 31,<br />
2 0 1 5 a t<br />
APNS House,<br />
Karachi, has<br />
Hameed Haroon<br />
elected the<br />
Ex e c ut iv e<br />
Committee for the year <strong>2015</strong>-16 which<br />
unanimously elected Hameed Haroon<br />
(Daily Dawn) as President, Rameeza<br />
Majid Nizami (Daily Nawa-i-Waqt)<br />
as Senior Vice President, Mumtaz A.<br />
Tahir (Daily Aftab) as Vice President,<br />
Sarmad Ali (Daily Jang) as Secretary<br />
General, Rahmat Ali Raazi (Weekly<br />
AZM/Daily Taaqat) as Joint Secretary<br />
and Humayon Tariq (Daily Business<br />
Report) as Finance Secretary of<br />
Society.<br />
Khalid A Mirza appointed<br />
as LSE BoDs Chairman<br />
Khalid A Mirza<br />
Former chief of the Competition<br />
Commission of Pakistan (CCP)<br />
and Securities and Exchange<br />
Commission of Pakistan (SECP)<br />
Kh alid A Mirza has b ee n<br />
appointed as Chairman of the<br />
Lahore Stock Exchange Board of<br />
Directors.<br />
Moin Fudda appointed<br />
ISE board chairman<br />
The Board<br />
of Directors<br />
o f<br />
I sl am ab ad<br />
S t o c k<br />
Ex c h a n g e<br />
has unanim<br />
o u s l y<br />
e l e c t e d<br />
Moin Fudda<br />
M o i n M<br />
F u d d a ,<br />
nominee Director of the Securities<br />
and Exchange Commission of<br />
Pakistan, as its new Chairman.<br />
Moin M Fudda is the Country<br />
D i r e c t o r o f C e n tr e f o r<br />
International Private Enterprise,<br />
enga ged in Pr iva te Sec tor<br />
Development and Market Oriented<br />
Reforms in Pakistan since 2005.<br />
TRADE CHRONICLE - <strong>March</strong>~<strong>April</strong> <strong>2015</strong> - Page # 27
TRADE CHRONICLE<br />
PM Nawaz extends DG<br />
IB’s term by one year<br />
Prime Minister Mian Mohammad<br />
Nawaz Sharif has extended Director<br />
General of Intelligence Bureau Aftab<br />
Sultan’s term in office by one year,<br />
media reported. Following the<br />
extension, the contract of Aftab Sultan<br />
will now end on <strong>April</strong> 2, 2016. The<br />
senior Police officer Sultan was<br />
appointed as DG IB in June 2013.<br />
This was second time that he was<br />
hired for same post. Previously, Sultan<br />
had served as DG of the Intelligence<br />
Bureau in 2011.<br />
Sindh police get first<br />
female spokesperson<br />
For the first time, the Sindh police<br />
has appointed a female spokesperson<br />
for the department. According to an<br />
official notification issued recently,<br />
Sindh IGP Ghulam Hyder Jamali<br />
approved the appointment of SP Erum<br />
Awan as the force’s spokesperson.<br />
Muhammad Zubair<br />
elected President KTBA<br />
The Karachi Tax Bar Association<br />
(KTBA) has elected Muhammad<br />
Zubair as president for the term <strong>2015</strong>-<br />
16. The office-bearers for the term<br />
include Vice President Mohammad<br />
Rehan Siddiqui, General Secretary<br />
Muhammad Aleem, Joint Secretary,<br />
Arshad Ali Siddiqui, and Librarian<br />
Syed Zafar Ahmed.<br />
“ M i a n R a z a<br />
Rabbani, Member,<br />
Senate of Pakistan,<br />
has been elected as<br />
Chairman of the<br />
Senate on 12th<br />
<strong>March</strong>, <strong>2015</strong>,” says<br />
a notification of the<br />
Senate Secretariat.<br />
A Profile:<br />
Chairman Senate Mian Raza Rabbani<br />
His brief profile<br />
follows: Senator<br />
M i a n R a z a<br />
Rabbani, 60, is a senior politician from<br />
Sindh who earned fame for<br />
constitutional reform and social<br />
progress. A committed leader of the<br />
Pakistan People’s Party, he entered<br />
politics in 1981 as an activist of<br />
People’s Student Federation and rose<br />
to the position of Additional Secretary-<br />
General of PPP and Parliamentary<br />
Maulana Abdul<br />
Ghafoor Haideri<br />
was elected as<br />
Deputy Chairman<br />
of the Senate of<br />
Pakistan with<br />
heavy mandate on<br />
12th <strong>March</strong> <strong>2015</strong>.<br />
He was born on<br />
June 1957 to an<br />
eminent tr ibal<br />
personality, Muhammad Azam Lehri,<br />
of sub tehsil Gazag district Qalaat. He<br />
completed his religious education in<br />
1979 from Tando Allayar and thus<br />
passed various examinations from the<br />
Examination Board of Wafaq-ul-<br />
Madaris Al-Arabia with outstanding<br />
marks. In 1974 he vehemently<br />
participated in the Tehrik-e-Khatm-e-<br />
Nabowat (Movement for the Finality<br />
of Prophethood) and was consequently<br />
Mian Raza Rabbani<br />
Chairman Senate<br />
Leader in the<br />
Senate. Chairman<br />
R a bb an i wa s<br />
a w a r d e d t he<br />
highest civil award,<br />
Nishan-e-Imtiaz,<br />
f o r h i s<br />
pa r lia me nta r y<br />
s e r v ic e s . I n<br />
addition, he was<br />
awarded the Bacha<br />
Khan Award for<br />
the Defence of<br />
Provincial Rights. The Human Rights<br />
Society of Pakistan selected him for<br />
the 2006 award for his invaluable<br />
services for human rights. Senator<br />
Rabbani has authored numerous books<br />
including “A Biography of Pakistani<br />
Federalism” and “LFO: A Fraud on<br />
the Constitution.” He contributed to<br />
the book, “Blind Justice.”<br />
A Profile:<br />
Deputy Chairman Senate Maulana Abdul Ghafoor Haideri<br />
detained. In 1981<br />
h e f o r m a l l y<br />
la un ch ed his<br />
political career<br />
from the platform<br />
of JUI and at the<br />
s a m e t i m e<br />
remained engaged<br />
as a teacher at<br />
different religious<br />
s e m i n a r i e s<br />
(Madaris). From 2008 onward he has<br />
been a regular member of the Senate<br />
of Pakistan. During this period he<br />
remained Chief Whip (Coalition<br />
government) and leader of the<br />
opposition in Senate for two years. In<br />
2013, he was appointed Minister of<br />
State for Postal Services by the PML-<br />
N government and took marvelous<br />
measures for the revival of the Postal<br />
Department.<br />
TRADE CHRONICLE - <strong>March</strong>~<strong>April</strong> <strong>2015</strong> - Page # 28
TRADE CHRONICLE<br />
Riazuddin assumes charge<br />
of SBP Deputy Governor<br />
President administers oath to two federal ministers<br />
President Mamnoon Hussain administering the oath of offices to Senators Pervaiz<br />
Rashid and Mushahidullah Khan as federal ministers at the Presidency<br />
Riaz Riazuddin<br />
Riaz Riazuddin has assumed the<br />
charge of the office of Deputy<br />
Governor (DG), State Bank of Pakistan<br />
(SBP). The Federal Government<br />
notified appointment of Riazuddin as<br />
DG, SBP on <strong>March</strong> 28, <strong>2015</strong> for a<br />
period of three years from the date he<br />
assumes charge.<br />
Prior to assuming charge as DG, Riaz<br />
has been serving as Chief Economic<br />
Advisor, State Bank and leading its<br />
monetary policy group of departments.<br />
Riazuddin brings around 20 years of<br />
central banking experience to his new<br />
assignments. Before joining SBP in<br />
1994, he has served at Applied<br />
Economics Research Centre (AERC),<br />
University of Karachi as Assistant<br />
Professor/ Research Economist. He<br />
holds Master's degrees from the<br />
University of Karachi and Boston<br />
University, USA in Statistics,<br />
Economics and Economic Policy.<br />
He has been representing SBP at<br />
various forums such as Chairman,<br />
Working Group on Monetary Policy.<br />
Riaz Riazuddin has presented many<br />
scholarly papers at various conferences<br />
and seminars and his work has been<br />
published in various journals at the<br />
national and international levels.<br />
President Mamnoon Hussain<br />
administered the oath of offices to<br />
senators Pervez Rashid and Mushahid<br />
Ullah Khan as federal ministers in a<br />
ceremony held at Aiwan-e-Sadr<br />
recently.<br />
Later, both the newly-sworn in<br />
T h e f e d e r a l<br />
government has<br />
appointed Syed<br />
Wamiq Bokhari as<br />
managing director<br />
and chief executive<br />
officer of Pakistan<br />
Petroleum Limited<br />
with effect from<br />
<strong>March</strong> 16, <strong>2015</strong>, in<br />
place of Secretary<br />
Petroleum Arshad<br />
Mirza, who held additional charge<br />
since July 8, 2014.<br />
A seasoned oil and gas professional,<br />
Bokhari has over 30 years of<br />
management experience mainly with<br />
three international majors: Kuwait<br />
Foreign Petroleum Exploration<br />
Company (KUFPEC), a subsidiary of<br />
Kuwait Petroleum Corporation, Eni<br />
SpA and Atlantic Richfield Company,<br />
USA.<br />
Bokhari’s professional engagements<br />
have entailed assignments in several<br />
ministers Pervez Rashid and Mushahid<br />
Ullah Khan called on President<br />
Mamnoon Hussain. The President<br />
congratulated both the senators on<br />
becoming federal ministers and hoped<br />
that they would continue to effectively<br />
discharging their responsibilities for<br />
betterment of the common man.<br />
Syed Wamiq Bokhari appointed MD PPL<br />
countries spanning<br />
five continents, the<br />
last as KUFPEC’s<br />
Regional Manager<br />
overseeing the<br />
Canada and South<br />
East Asia region.<br />
H e h a s a<br />
Syed Wamiq Bokhari Bachelor’s and<br />
M a s t e r ’ s i n<br />
P e t r o l e u m<br />
Engineering from University of Texas,<br />
USA and has attended numerous<br />
executive management programmes<br />
at prestigious institutes.<br />
Bokhari has served as chairman of<br />
Pakistan Association of Petroleum<br />
Geoscientists and been a member of<br />
Society of Petroleum Engineers and<br />
Pakistan Petroleum Exploration and<br />
Production Companies Association in<br />
addition to being on the advisory board<br />
of the Petroleum Engineering<br />
Department at NED University of<br />
Engineering and Technology, Karachi.<br />
TRADE CHRONICLE - <strong>March</strong>~<strong>April</strong> <strong>2015</strong> - Page # 29
TRADE CHRONICLE<br />
Automobile News<br />
Auto industry should offer more choices<br />
President Mamnoon Hussain has<br />
called upon the automotive industry<br />
to offer more choices and quality<br />
products to consumers at affordable<br />
prices. He was addressing the<br />
inaugural session of the Pakistan Auto<br />
Show <strong>2015</strong> organised by Pakistan<br />
Association of Automobile Parts and<br />
Accessories Manufacturers (Paapam).<br />
‘We cannot afford to ignore the fact<br />
that the automotive industry has<br />
emerged to be a role model of<br />
development and growth for other<br />
sectors, the president said. However,<br />
there is a need to see why consumers<br />
are resorting to imported used<br />
vehicles and why can‘t local<br />
manufacturers give the consumers an<br />
affordable quality car.<br />
‘These are important questions which<br />
the industry should ponder over while<br />
moving forward,‘ he said, while<br />
referring to the case when<br />
President Mamnoon Hussain Presents Memento to Organizer of Pakistan Auto<br />
Show <strong>2015</strong> at Expo Centre Karachi on 6-3-<strong>2015</strong><br />
manufacturers of locally-produced<br />
motorcycles were compelled to bring<br />
down their cost due to easy availability<br />
of low-cost Chinese bikes. He further<br />
sought increased indigenisation of<br />
critical value-added parts, saying this<br />
was the only way to reduce prices.<br />
The president said the government is<br />
working to provide required support<br />
to the auto industry through adequate<br />
policy measures and the industry<br />
should respond by overcoming the<br />
challenges to offer choice and value<br />
for money to the consumer.<br />
I am confident that the new auto<br />
policy would open up an environment<br />
for increased competition by<br />
attracting new investors in this<br />
potential sector, he said.<br />
Auto policy to boost investment: Dastagir<br />
The government will soon announce<br />
automobile policy which will create<br />
a balance in the interests of all<br />
stakeholders, said Commerce<br />
Minister Khurram Dastagir Khan.<br />
“The new policy will focus on<br />
attracting more investment and<br />
generating maximum jobs,” said<br />
the minister while addressing the<br />
members of automobile industry<br />
after visiting various stalls at the<br />
three-day Pakistan Auto Show at<br />
the Expo Centre.<br />
The minister also witnessed signing<br />
of two MoUs between Paapam and<br />
Engr. Khurram Dastgir khan<br />
Federal Minister for Commerce<br />
Iraq’s Chamber of Commerce and<br />
Industry for promoting Pakistani auto<br />
parts. Besides, he distributed export<br />
trophy awards among Paapam<br />
members.<br />
Paapam Chairman Siddique Mistri<br />
apprised the minister of issues faced<br />
by the auto industry mainly increase<br />
in duties on steel imports.<br />
He also called for allocation of funds<br />
from EDF for setting up auto parts<br />
testing centres, and for establishing<br />
display centres to showcase their<br />
products.<br />
Khurram assured that the chairman of<br />
Paapam would be placed as member<br />
of the board of Export Development<br />
Fund (EDF) for 2016-17.<br />
TRADE CHRONICLE - <strong>March</strong>~A pril <strong>2015</strong> - Page # 30
TRADE CHRONICLE<br />
Banking & Insurance News<br />
AGM held: NBP highlights yearly performance to shareholders<br />
National Bank of Pakistan held its 66th<br />
Annual General Meeting at a local<br />
hotel recenly. The meeting was well<br />
attended by the shareholders. The<br />
Chairman NBP Muneer Kamal and<br />
President NBP Syed Ahmed Iqbal<br />
Ashraf also attended the meeting. The<br />
bank's performance during the year<br />
was highlighted to the shareholders. It<br />
was stated that the Board of Directors<br />
in their meeting held on February 26,<br />
<strong>2015</strong> have proposed final cash dividend<br />
of Rs 5.5 per share (55 percent) for the<br />
year ended December 31, 2014 which<br />
translates into 86 percent dividend<br />
payout of the bank's distributable profit<br />
for the year 2014 (after statutory reserve<br />
allocation) and is the highest in the<br />
banking industry. This high payout<br />
shows bank's strong capital position<br />
with continuous focus on increasing<br />
stakeholder value by capitalising on<br />
opportunities to drive strong<br />
performance for the organisation and<br />
even higher payouts to the shareholders<br />
in the years ahead.<br />
The shareholders approved dividend<br />
payout of 55% cash dividend (Rs 5.50<br />
per share) as recommended in the<br />
Board of Directors of the bank. The<br />
shareholders were informed that the<br />
bank's profit before tax increased by<br />
211 percent in 2014 and stood at Rs<br />
22 billion. Profit after tax increased by<br />
173 percent from Rs 5.5 billion in year<br />
2013 to Rs 15 billion in year 2014.<br />
Earnings per share were Rs 7.06 in<br />
year 2014 as against Rs 2.59 of last<br />
year, an increase of 173 percent.<br />
Net interest income increased from Rs<br />
38.2 billion in 2013 to Rs 44.2 billion<br />
in 2014 reflecting an increase of 16<br />
percent due to balance sheet reprofiling<br />
and growth. Non-interest<br />
income increased by 23 percent from<br />
Rs 25.6 billion in 2013 to Rs 31.5<br />
billion in 2014. Total deposits increased<br />
by 12 percent from Rs 1,101 billion at<br />
December 31, 2013 to Rs 1, 234 billion<br />
at December 31, 2014. The current and<br />
savings account (CASA) ratio was 72<br />
percent at December 2014 compared<br />
to 69 percent at December 31, 2013<br />
which helped in reducing the cost of<br />
funds and in improving profitability<br />
of the bank. Net NPL ratio (after<br />
provisions) improved to 3.62 percent<br />
from 4.21 percent at December 31,<br />
2013.<br />
Customized ICT Solutions Ufone signs MoU with NBP for provision of services<br />
The National Bank of Pakistan (NBP)<br />
and Pak Telecom Mobile Ltd (Ufone)<br />
have signed a Memorandum of<br />
Understanding (MoU) for provision<br />
of services pertaining to Customized<br />
ICT Solutions recently.<br />
According to the agreement the Ufone<br />
will provide extension of SMS<br />
notification portal for the NBP with<br />
customization for different pull and<br />
push notification. The Ufone will<br />
handle the SMS and mobile application<br />
for banking related initiatives. It will<br />
also assist the NBP for contact center<br />
services, which includes provision of<br />
a CMS (Complaint Management<br />
System) and Call Center related<br />
services. The Ufone will collaborate<br />
on MFS Solutions with the NBP for<br />
providing the solution of salary<br />
accounts and transfers, bill payments,<br />
advance salary loans, loans repayments<br />
and renewals. The Ufone will also<br />
assist the NBP in pension disbursement<br />
and brand promotion through various<br />
co-branding initiatives e.g. Debit Card.<br />
NBP representatives Mudassir H Khan,<br />
SEVP & Group Chief Commercial &<br />
Retail Banking Group (C&RBG), S H<br />
Irtiza Kazmi, EVP & Coordinator<br />
PMYBL, C&RBG, and Nageen Rizvi,<br />
VP & Unit Head Marketing &<br />
Promotions PMYBL, C&RBG<br />
witnessed the event. From the Ufone<br />
side PTML Jamal Eddine Trache<br />
(Chief Officer - Contracts &<br />
Procurement, Yousef Al Zaabi (Chief<br />
Officer HR, Admin & Security), and<br />
also acting CEO Ahmad Kamal (Chief<br />
Officer - Customer Operations),<br />
Naveed Khalid Butt (Chief Officer -<br />
Government & Regulatory Affairs),<br />
Atif Ishaque (General Manager<br />
Customer Operations) and Taimur Faiz<br />
Cheema (General Manager Marketing)<br />
were present.<br />
TRADE CHRONICLE - <strong>March</strong>~<strong>April</strong> <strong>2015</strong> - Page # 31
TRADE CHRONICLE<br />
Deal signed with SLIC,<br />
GBA NBP to act as<br />
distributor for<br />
Bancassurance products<br />
National Bank of Pakistan (NBP)<br />
has inked a tripartite agreement with<br />
the State Life Insurance Corporation<br />
of Pakistan (SLIC) and GBA<br />
Services (Private) Limited for<br />
Bancassurance products and<br />
services.<br />
The agreement was inked for the<br />
distribution of insurance products<br />
through NBP branches and SLIC<br />
will be insurance risk taker and<br />
provide products and services.<br />
Mudassir H Khan, SEVP Group<br />
Chief C&RBG NBP and Gian<br />
Ch and Kew alrama ni, Hea d<br />
B a nc a s s ur an c e SLIC a n d<br />
Muhammad Naseem Rawther COO<br />
GBA signed the agreement on<br />
beh alf o f the ir r es pec tiv e<br />
organisations.<br />
Talking to media, NBP President<br />
Syed Ahmed Iqbal Ashraf said in<br />
order to facilitate our existing<br />
customers and broaden our<br />
customer base, the bank will act as<br />
a distributor for Bancassurance<br />
products through NBP's existing<br />
branch network and introduce a<br />
cross sales/cross sell cultur e<br />
throughout the organisation.<br />
Nargis Ghaloo, Chairperson State<br />
Life Insurance Corporation of<br />
Pakistan thanked the NBP President<br />
for selecting State Life as a business<br />
partner saying that the target market<br />
of Bancassurance products and<br />
services are spread across all lines<br />
of bank business.<br />
It pays to advertise in<br />
<strong>Trade</strong> <strong>Chronicle</strong><br />
‘Home Remittance<br />
second largest source<br />
of foreign exchange<br />
after export’<br />
In Pakistan’s economy home<br />
remittance is the second largest<br />
source of foreign exchange after<br />
export. Banks especially NBP is<br />
doing a ma rvellous job in<br />
channelizing the remittances of<br />
overseas Pakistani workers through<br />
regular banking channels thus<br />
avoiding the reliance on Hawala<br />
and Hundi, this was stated by<br />
K halid B in Sh aee n G r oup<br />
C hi ef /SEV P G lob al H om e<br />
Remittance in a session arranged<br />
b y N B P R eg io na l O f f ic e<br />
Rawalpindi.<br />
Khalid Bin Shaeen said “Today<br />
NBP has over 35 leading overseas<br />
remitting partners extending NBP’s<br />
“Foree Remittance Services” to<br />
r emitter s in their r espective<br />
countries. The added convenience<br />
is aimed to facilitate our people<br />
and discourage the use of illegal<br />
Hawala/Hundi channels. Further,<br />
NBP has established the first<br />
dedicated, extensive and efficient<br />
compliant handling system for<br />
home remittances to address<br />
queries/grievances of remitters<br />
/beneficiaries. Home remittance is<br />
the money sent by expats to their<br />
loved ones at home for family<br />
maintenance. Home Remittances<br />
from overseas Pakistanis play an<br />
extraordinary role in the economic<br />
development of Pakistan and it is<br />
far more important than official<br />
de ve lo pme nt a ss ista nce o r<br />
bor rowing from international<br />
lenders.” Khalid Bin Shaheen also<br />
visited Rawalpindi Region during<br />
a n ad voc ac y ca mpa ign o f<br />
increasing the volume of home<br />
r emittance through banking<br />
channel.<br />
HBL signs agreement<br />
with Jubilee<br />
General Insurance<br />
Habib Bank Limited (HBL) has<br />
signed an agreement with Jubilee<br />
General Insurance Company Limited<br />
(JGI) to launch HBL Cash Mehfooz<br />
for HBL customers.<br />
HBL Cash Mehfooz provides<br />
protection benefits on the occurrence<br />
of burglaries or mugging attacks after<br />
making cash withdrawals via ATM<br />
or over the counter. In addition, it<br />
provides coverage for other valuables,<br />
medical expenses and accidental<br />
death nationwide.<br />
The agreement was signed by Faiq<br />
Sadiq Head Payment Services, HBL<br />
and Tahir Ahmed Managing Director<br />
& CEO, JGI. The event was also<br />
attended by Nauman Dar President<br />
& CEO, HBL along with senior<br />
management of both corporations.<br />
Speaking at the occasion, Faiq Sadiq<br />
commented, “Considering the<br />
security issues that the general public<br />
has to face on a daily basis, HBL<br />
aims to provide its customers with a<br />
complete sense of security while<br />
withdrawing cash over HBL branch<br />
counters or ATMs.<br />
HBL Cash Mehfooz fulfills this<br />
requirement by off ering a<br />
comprehensive low cost and<br />
convenient coverage to HBL<br />
customers.”<br />
Tahir Ahmed added, “General<br />
Insurance has the power to enhance<br />
individual lives. Therefore, we use<br />
various distribution channels powered<br />
by technology, to reach every<br />
Pakistani. We also place a strong<br />
focus on training and development<br />
of our partners, to ensure transparent<br />
transactions and proper product<br />
utilization by our customers.”<br />
TRADE CHRONICLE - <strong>March</strong>~<strong>April</strong> <strong>2015</strong> - Page # 32
TRADE CHRONICLE<br />
MCB posts Rs24.32<br />
billion profit in 2014<br />
The MCB Bank Limited earned a<br />
profit-after-tax of Rs24.325 billion<br />
and the profit-before-tax of Rs36.729<br />
billion with an increase of 13 percent<br />
and 14 percent in 2014, respectively,<br />
a bank statement said.<br />
This was revealed at the 67th Annual<br />
General Meeting of the shareholders<br />
of MCB Bank Limited held recently<br />
under the Chairmanship of Aftab<br />
Ahmed Khan, to transact the ordinary<br />
and special businesses of the bank.<br />
MCB Bank Limited President<br />
informed the members that despite the<br />
challenging operating environment,<br />
the bank delivered exceptional<br />
performance and growth in financial<br />
year 2014. This was primarily<br />
contributed by 15 percent increase in<br />
net markup income and 20 percent<br />
increase in non-markup income. Net<br />
markup income of the bank was<br />
reported at Rs43.512 billion, whereas<br />
non-markup income increased to<br />
Rs13.435 billion. The increase in nonmarkup<br />
income was due to the<br />
compensation received by the bank<br />
on delayed tax refunds amounting to<br />
Rs1.1 billion, income from dealing in<br />
foreign currencies of Rs527 million<br />
and fee, commission and brokerage<br />
income of Rs484 million.<br />
It was highlighted that the asset base<br />
of MCB was reported at Rs934.631<br />
billion signalling a healthy growth of<br />
15 percent over December 2013.<br />
Analysis of the asset mix witnessed a<br />
14 percent increase in investments to<br />
Rs511.137 billion and 20 percent<br />
increase in gross advances to<br />
Rs322.318 billion. The quality of asset<br />
showed considerable improvement as<br />
a result of the non-performing loans<br />
of the bank contracting by 5.8 percent<br />
to Rs21.908 billion.<br />
JS Bank posts profit<br />
JS Bank Limited (JSBL) announced<br />
its 2014 result posting a profit after<br />
tax of PKR 1,060.039 million in CY14<br />
compared to PKR 351.283 million in<br />
CY13.<br />
Board of Directors of JS Bank in its<br />
meeting held on February 24, <strong>2015</strong><br />
approved the audited Financial<br />
Statements for the year ended<br />
December 31, 2014.<br />
Bank’s Earning Per Share (EPS)<br />
increased to PKR 0.99 for the year<br />
2014 from PKR 0.33 in CY13. Bank’s<br />
Net Interest Income (NII) stood at PKR<br />
3,854.040 million and non-markup<br />
income at PKR 2,590.161 million. JS<br />
Bank posted a profit before tax of PKR<br />
1,608.225 million in CY14 compared<br />
to PKR 501.371 million in CY13.<br />
The balance sheet registered a YoY<br />
growth of 56.7% to reach PKR 176,717<br />
million as at December 31, 2014.<br />
Deposits increased to PKR 108,740<br />
million as compared to PKR 80,916<br />
million in the previous year, a YoY<br />
growth of 34.4%. Gross advances grew<br />
to PKR 58,765 million as compared<br />
to PKR 35,164 million in the previous<br />
year, a YoY growth of 67.1%.<br />
Given that the bank has shown such<br />
robust performance in what has been<br />
a difficult time for the local economy,<br />
is testament to the prudent management<br />
and financial discipline at the bank. JS<br />
Bank is one of the fastest growing<br />
commercial banks in Pakistan, it has<br />
a large network of 238 branches across<br />
122 cities of Pakistan with plans to<br />
expand its outreach with more branches<br />
Bank Alfalah earns Rs<br />
8.514bn profit before tax<br />
Bank Alfalah delivered strong<br />
financial results with profit before<br />
taxation of Rs 8.514 billion for the<br />
year ended 31 December 2014, as<br />
compared to Rs 6.807 billion earned<br />
in 2013, registering an increase of<br />
25 percent over the previous year.<br />
Earnings per share increased by 20<br />
percent and were reported at Rs<br />
4.09 as against Rs 3.41 in 2013.<br />
During the 23rd Annual General<br />
Meeting (AGM) of the Bank held,<br />
the shareholders were informed that<br />
the Bank’s deposits stood at Rs 606<br />
billion at year end, witnessing a<br />
growth of 15.3 percent over the year<br />
2013. Gross advances increased<br />
from Rs 274 billion to Rs 305<br />
billion at end of December 2014,<br />
reflecting a year on year growth of<br />
11.3 percent.<br />
The Bank’s Islamic Banking<br />
business continues to serve as one<br />
of the largest Islamic Banking<br />
window operations in Pakistan and<br />
generated a profit before tax of Rs<br />
1.142 billion for the year 2014.<br />
Speaking at the occasion, Atif<br />
Bajwa, President and CEO of Bank<br />
Alfalah, said “The Bank has<br />
d eliv er e d s oun d f ina nc ial<br />
performance along with strong and<br />
consistent long-term shareholder<br />
r eturns in a tough business<br />
environment.<br />
Understanding our customers’<br />
needs, developing innovative<br />
financial solutions and building<br />
long-term relationships are the<br />
foundations of our commitment to<br />
our customers. We are optimistic<br />
that we will continue to create<br />
further value in the lives of the<br />
people we touch.”<br />
TRADE CHRONICLE - <strong>March</strong>~<strong>April</strong> <strong>2015</strong> - Page # 33
TRADE CHRONICLE<br />
HabibMetro Bank posts Rs7.31 bn profit before tax<br />
Habib Metropolitan Bank posted a<br />
profit-before tax of Rs. 7.31 billion<br />
for the year 2014, registering a yearon-year<br />
profitability boost of 43<br />
percent. The Bank achieved broad<br />
based organic growth, with its<br />
network expansion and resource<br />
mobilization driving growth across<br />
its business segments.<br />
The Bank's Profit- After- Tax<br />
amounted to Rs 4.93 billion on<br />
December 31, 2014. Resultantly,<br />
HabibMetro's EPS increased by<br />
39.47 percent and marked at Rs.<br />
4.70 at the end of 2014.<br />
HabibMetro Bank's total assets<br />
augmented by 27.6 percent<br />
compared to December 2013, and<br />
in doing so amounted to Rs. 397.3<br />
billion on December 31, 2014.<br />
Meanwhile, the Bank's deposit base<br />
exhibited an increase of over 29<br />
percent - a growth that surpassed<br />
the industry's deposit growth<br />
curve-and exceeded Rs. 320<br />
billion.<br />
The Bank enhanced its<br />
outreach by 26 new branches<br />
and 13 new cities in the year<br />
2014; this expansion increased<br />
its branch network to 240<br />
branches in 62 cities across the<br />
country.<br />
In a Board Meeting held on<br />
F e b r u a r y 2 6 , 2 0 1 5 ,<br />
HabibMetro Bank's Board of<br />
Directors recommended distribution<br />
of 25 percent dividend for the year<br />
2014.<br />
President & CEO of the leading<br />
trade finance bank, Sirajuddin Aziz,<br />
commented, "We strive to meet<br />
existing and f uture financial<br />
requirements of our customers<br />
through unparalleled and reliable<br />
service, w hile continuously<br />
Sirajuddin Aziz<br />
improving our product offerings.<br />
These are the parameters that we<br />
gauge our performance upon. In the<br />
year 2014, we diversified our<br />
portfolio, expanded our product<br />
spectrum and enhanced our service<br />
quality for customers; hence, the<br />
Management is happy to share that<br />
the year has proven lucrative and<br />
the Bank has done well."<br />
Meezan Bank earns Rs4.57bn profit-after-tax<br />
The 19th Annual General Meeting<br />
(AGM) of Meezan Bank Limited<br />
was held on <strong>March</strong> 27, <strong>2015</strong> at its<br />
Head Office – Meezan House,<br />
Karachi. The Chairman Audit<br />
Committee, Mr. Mohammad Abdul<br />
Aleem chaired the AGM, which was<br />
attended by Meezan B ank’s<br />
management team, external auditors<br />
and shareholders of Meezan Bank.<br />
Shareholders were informed that<br />
during the year, Meezan Bank’s<br />
performance remained outstanding<br />
in all areas of its business activities.<br />
A significant achievement during<br />
the year had been the successful<br />
acquisition of the Pakis tan<br />
operations of HSBC Bank, one of<br />
the leading retail banks in the world.<br />
The Bank earned Profit-after-tax of<br />
Rs. 4.570 billion in 2014 compared<br />
to Rs. 3.957 billion recorded last<br />
year. Earnings per share (EPS) for<br />
the year increased to Rs. 4.56 (2013:<br />
Rs.3.95). Deposits increased by<br />
31% to Rs. 380 billion in 2014,<br />
while its financing portfolio grew<br />
by 38% to Rs. 176 billion.<br />
Furthermore, the non- funded<br />
business, which primarily includes<br />
Imports and Exports, crossed Rs.<br />
375 billion.<br />
The shareholders acknowledged the<br />
impressive performance of the Bank<br />
and approved the annual audited<br />
accounts for the year ended Dec 31,<br />
2014.<br />
The shareholders also approved the<br />
12.5% final cash dividend i.e. Rs.<br />
1.25 per share. This is in addition<br />
to the earlier interim cash dividend<br />
of 15% paid in August which brings<br />
the total payout of the Bank for the<br />
year to Rs. 2.75 per share (i.e.<br />
27.50%). This declaration maintains<br />
the Bank’s unbroken payout record<br />
since its date of listing on the Stock<br />
Exchange.<br />
TRADE CHRONICLE - <strong>March</strong>~<strong>April</strong> <strong>2015</strong> - Page # 34
TRADE CHRONICLE<br />
Warid Telecom appoints<br />
Chief Strategy Officer<br />
W a r i d<br />
Telec om,<br />
announced<br />
t h e<br />
a p p o i nt -<br />
ment of its<br />
new Chief<br />
S tr a t e g y<br />
Farid Ahmad<br />
O f f i c e r ,<br />
Mr. Farid<br />
Ahmad. He will be primarily<br />
responsible for overall Corporate<br />
Strategy, Pricing & Segments,<br />
Business Intelligence & Analysis,<br />
International Business and New<br />
Business Revenue Streams/Projects.<br />
Farid has experience spanning over<br />
20 years in telecom, IT and fertilizer<br />
companies. He was associated with<br />
Mobilink for over 10 years and his<br />
last assignment with Mobilink was<br />
as VP Business Analysis &<br />
Planning.<br />
Ufone launches online<br />
shopping portal<br />
Ufone has launched its own online<br />
shopping portal, UMall, marking its<br />
entry into Pakistan’s e-commerce<br />
sphere, a statement said recently.<br />
The portal offers a wide range of<br />
products with various payment<br />
methods to choose from, it said. This<br />
is a major initiative taken by Ufone<br />
towards completing the Mobile<br />
Ecosystem; following its footfall in<br />
the domains of voice, data, financial<br />
services and mobile governance, it<br />
said. This initiative has been seen by<br />
the industry experts as a major move<br />
by a telecom operator, which will<br />
have a long-term impact on the<br />
positive growth of e-commerce<br />
industry in Pakistan.<br />
Telecommunication News<br />
Zong applauds Anusha Rahman, Ismail Shah<br />
D e pu ty Di r ec to r<br />
Regulatory Affairs,<br />
Zong Nauman Khalid<br />
congratulated Anusha<br />
Rahman, State Minister<br />
for IT & Telecom and<br />
D r. Is mail Shah,<br />
Chairman PTA for<br />
winning 'Government<br />
Mobile Excellence<br />
Award.'<br />
Anusha Rahman has<br />
recently been awarded<br />
th e ' Go ve r nm en t<br />
Mobile Excellence<br />
Awards <strong>2015</strong>' at the<br />
M o b i l e Wo r l d<br />
Congress <strong>2015</strong> of the<br />
GSMA in Barcelona,<br />
Spain. This award is an<br />
acknowledgement of<br />
the successful spectrum<br />
auction of the 3G & 4G<br />
services in the 850 MHz, 1800 MHz<br />
and 2100 MHz bands.<br />
"Being the only 3G + 4G operator<br />
in the country, Zong recognizes this<br />
Imports of cellphones increased by<br />
7.68 per cent to $465.658 million<br />
during the first eight months (July-<br />
Feb) of 2014-15 as compared to<br />
$432.433m in the same period last<br />
year. In February, the imports increased<br />
by 28.61pc to $73.161m against<br />
$56.882m in Feb 2014, and by 62.82pc<br />
when compared to $44.933m in Jan<br />
<strong>2015</strong>, Pakistan Bureau of Statistics<br />
data showed recently.<br />
The overall telecom imports also<br />
increased by 15.43pc to $961.965m<br />
during the period under review as<br />
Cellphone imports increased<br />
TRADE CHRONICLE - <strong>March</strong>~<strong>April</strong> <strong>2015</strong> - Page # 35<br />
Minister of State for IT Anusha Rahman receiving<br />
the GSMA Spectrum for Mobile Broadband Award<br />
<strong>2015</strong> at the Mobile World Congress.<br />
as a remarkable achievement for the<br />
country as it is progressing towards<br />
greater heights in the mobile<br />
spectrum world", said Nauman<br />
Khalid.<br />
compared to $833.399m in July-Feb,<br />
2013-14.<br />
In February, the telecom imports<br />
increased by 7.59pc to $115.454m<br />
against $107.311m in Feb 2014, and<br />
by 21.05pc when compared to<br />
$95.378m in Jan <strong>2015</strong>.
TRADE CHRONICLE<br />
PTCL brings landline service<br />
on mobile phones through<br />
SmartLink App<br />
Pakistan Telecommunication Company<br />
Limited (PTCL), the largest ICT<br />
services provider in the country, now<br />
brings for the first time in Pakistan,<br />
mobility for landline customers’<br />
through its SmartLink application.<br />
The application empowers PTCL<br />
customers to dial and receive landline<br />
calls through mobile phones on-thego,<br />
anywhere and anytime. The internet<br />
based application extends the crystal<br />
clear landline calling experience to<br />
mobile phones in a simple, smart way<br />
at the same affordable landline tariffs.<br />
Customers also get high quality and<br />
seamless video calling options<br />
regardless of location.<br />
Mougis Ahmead Khan, Regional Director Central Region, Zong handing over<br />
keys of Mehran car to Sunny Arsalan, the winner of Retailer Activation Compaign<br />
in Kamonki.<br />
The application, available at no<br />
subscription fee or monthly charges,<br />
comes equipped with various additional<br />
features including instant messaging,<br />
access to Smartphone’s contact<br />
directory for calls and PIA flight<br />
schedule inquiry for on-the-go<br />
travellers. SmartLink also enables users<br />
to watch 150 PTCL Smart TV<br />
Channels.<br />
Pakistan’s first and largest mobile money service Easypaisa received the award<br />
for opening up highest number of mobile accounts in 2014 during the 8th mobile<br />
commerce conference held recently. Picture shows: (L to R) Nadeem Hussain,<br />
President & CEO, Tameer Microfinance Bank and Yahya Khan, Head of Easypaisa<br />
receiving the award from Ashraf Mahmood Wathra, Governor, State Bank of<br />
Pakistan.<br />
Free internet for mobile customers<br />
Telenor and Mobilink customers in<br />
Pakistan will be able to enjoy a day<br />
of free internet with the popular Opera<br />
Mini browser, a statement said<br />
recently.<br />
The free internet access, sponsored by<br />
Microsoft Lumia, is available<br />
exclusively to basic Java phone users<br />
and is aimed at encouraging more<br />
Pakistanis to go online and experience<br />
the power of the internet, it said.<br />
To take advantage of the free internet<br />
offer, Telenor and Mobilink customers<br />
just need to open the Opera Mini<br />
browser on their phones and click the<br />
Free Internet icon, it said, adding, this<br />
will open a page from which users can<br />
activate 10MB of free internet access<br />
that can be used over a period of 12<br />
hours.<br />
Mobile users who do not have the<br />
Opera Mini browser installed on their<br />
phones can visit m.opera.com to<br />
download the free app, it said.<br />
A large number of Pakistanis can<br />
access the web only via their mobile<br />
phones. At the same time, many are<br />
hesitant to use mobile internet because<br />
of the perceived high cost of data, it<br />
said.<br />
The possibility to access the internet<br />
for free, for a limited time, is a good<br />
incentive for users to experience the<br />
web for the first time, it added.<br />
TRADE CHRONICLE - <strong>March</strong>~<strong>April</strong> <strong>2015</strong> - Page # 36
TRADE CHRONICLE<br />
Travel World<br />
New Aviation Policy unveils<br />
Speaking on the occasion of the<br />
launch of National Aviation Policy<br />
<strong>2015</strong> recently, Prime Minister<br />
Muhammad Nawaz Sharif has said<br />
that the aviation policy was one of<br />
the most modern and finest policies<br />
that had been formulated after<br />
consultation with all stakeholders.<br />
Prime Minister Sharif said the<br />
working of the PIA must be improved<br />
to make it a modern and dynamic<br />
airline and directed the finance<br />
ministry to release the required funds.<br />
He said a new airport was needed in<br />
Lahore to cope with the<br />
growing needs adding that as per<br />
original layout, the airport was<br />
supposed to be much bigger but it<br />
was squeezed by the martial law<br />
Shujaat Azeem<br />
Special Assistant to PM on Aviation<br />
regime.<br />
He said the PIA used to be one<br />
of the finest airlines in the 1970s<br />
but it deteriorated and recalled<br />
his air travels through PIA<br />
saying that it was no lesser than<br />
other foreign airlines in those<br />
days.<br />
He said 26 percent of the PIA<br />
shares would be privatised<br />
whether someone liked it or not;<br />
however it would be in the<br />
interest of the airline as well as<br />
its staffers.<br />
H e a l s o<br />
directed CAA to<br />
launch air service to and<br />
from the destinations like Chitral and<br />
others in Khyber Pakhtunkhwa,<br />
Gilgit Baltistan and Balochistan<br />
where road travel is much difficult.<br />
Minister for Finance Ishaq Dar said<br />
the aviation policy reflected the<br />
Prime Minister's vision and termed<br />
it robust and investment friendly<br />
policy that also provides a future<br />
road-map to uplift the aviation sector.<br />
He said the new policy revolves<br />
around taxing the revenue not the<br />
core investment and it would be<br />
implemented on fast track. He said<br />
the country was going to join the<br />
world's emerging markets.<br />
He also quoted a Bloomberg report<br />
showing positive trends in the<br />
country's economy like high<br />
remittances, surging stock, top<br />
Prime Minister of Pakistan<br />
Mian Muhammad Nawaz Sharif<br />
performing currencies hoping that<br />
the country has a bright future.<br />
Special Assistant to PM Shujaat<br />
Azeem highlighted the salient<br />
features of the policy and said the<br />
region had the biggest East-West air<br />
traffic of around 600 flights.<br />
He said the air traffic was the<br />
fundamental of the national economy<br />
and hoped that the policy would help<br />
turn around the aviation sector.<br />
The policy envisages promotion and<br />
regulation of civil aviation activities,<br />
and to develop an infrastructure for<br />
safe, secure, efficient, adequate as<br />
well as economically and properly<br />
coordinated air transport service in<br />
the country. The policy states that in<br />
principle, tax relief would be<br />
extended on investment whereas<br />
taxes would be levied on revenue<br />
earning. Fiscal incentives on aviation<br />
sector will be announced through<br />
budget <strong>2015</strong>-16 after approval of<br />
Parliament. Tax relief incentives shall<br />
be applicable with effect from July<br />
01, <strong>2015</strong>.<br />
TRADE CHRONICLE - <strong>March</strong>~<strong>April</strong> <strong>2015</strong> - Page # 37
TRADE CHRONICLE<br />
Polani nominated<br />
FPCCI body chief<br />
Muhammad Yahya Polani<br />
Yahya Polani, MD Polani Group, and<br />
Chairman IATA Agency Programme<br />
Joint Council (APJC) Pakistan has<br />
been nominated as Chairman<br />
Standing Committee on Aviation of<br />
the Federation of Pakistan Chambers<br />
of Commerce and Industry (FPCCI)<br />
by Mian Muhammad Adrees<br />
President FPCCI. Polani has many<br />
times served as chairman of FPCCI<br />
Aviation and Hajj and Umrah<br />
committees.<br />
PIA 5 ATR-72 aircraft<br />
PIA has acquired five French-built<br />
ATR-72 aircraft, each with a capacity<br />
of 66 seats, on dry lease for a period<br />
of eight years, according to PIA<br />
spokesman Muhammad Aamir<br />
Memon. The remaining four ATRs<br />
will join the PIA fleet by the end of<br />
May, <strong>2015</strong>. With the induction of the<br />
aircraft, the total number of ATR<br />
aircraft in the PIA fleet will rise to<br />
11, he added.<br />
Chairman PIA, Nasser NS Jaffer<br />
inspected the ATR-72 aircraft on its<br />
arrival. The Managing Director of<br />
PIA, Shah Nawaz Rehman and other<br />
senior officials were also present on<br />
the occasion.<br />
The PIA Chairman thanked the Prime<br />
Minister and the Special Assistant to<br />
the Prime Minister on Aviation,<br />
Shujaat Azeem, for their co-operation<br />
in the induction of the aircraft in the<br />
PIA fleet.<br />
Emirates honours top travel agents in Pakistan<br />
Shaheen Air rewards<br />
its top cargo agents<br />
A grand ceremony was held at Falleti's<br />
Hotel Lahore recently at which top<br />
customers from Lahore, Sialkot,<br />
Islamabad, Peshawar, Faisalabad and<br />
Multan of TAQ Wholesalers (Pvt)<br />
Limited, GSA of Shaheen Air<br />
International, were rewarded for their<br />
performance in 2014. The chief guest<br />
at the ceremony was Faisal Rafique<br />
DMD Operations, Shaheen Air<br />
International.<br />
Present on the occasion were a number<br />
of senior officials of the airline<br />
including Fahim Anwar Director<br />
Marketing, Masroor-ul-Haq Cargo<br />
Manager Pakistan, M. A. Saqlain<br />
Regional Director, Muhammad Wasiq,<br />
Deputy Regional Director and Khalid<br />
F. Lodhi GM Operations Lahore. Also<br />
present were senior officials of CAA<br />
and Pakistan Customs, representatives<br />
of the handling agency SAPS, senior<br />
executives of GSA TWL and<br />
Chairman Aviation Management<br />
Group Muhammad Ilyas.<br />
Emirates, a global connector of<br />
people, places and economies, held<br />
a gala dinner at Armani Hotel, Dubai<br />
to appreciate the services of their<br />
highest performing travel agents in<br />
Pakistan. The event was hosted by<br />
Ahmed Khoory, Senior Vice<br />
President, Commercial, West Asia &<br />
Indian Ocean (WA&IO), Khalid<br />
Bardan, Emirates' Vice President<br />
Pakistan and Adnan Kazim, Emirates'<br />
Divisional Senior Vice President,<br />
Planning, Aeropolitical and Industry<br />
Affairs, who held the position of<br />
Emirates' Vice President Pakistan<br />
between 2004 and 2007.<br />
On the auspicious occasion, Ahmed<br />
Khoory said: "Emirates airline and<br />
Pakistan share a very special<br />
relationship that goes back to almost<br />
30 years".<br />
The top cargo agents were rewarded<br />
with shields and certificates of<br />
appreciation. In all, 10 cargo agents<br />
from Lahore, five from Peshawar and<br />
three from Sialkot received shields.<br />
The certificates of appreciation were<br />
given to six cargo agents from Lahore,<br />
two from Peshawar, three from Sialkot<br />
and one each from Faisalabad and<br />
Multan.<br />
Covering northern Pakistan, Shaheen<br />
Air International has a number of<br />
weekly services from Lahore, Sialkot,<br />
Islamabad, Peshawar and Multan to<br />
all major cities in the Gulf, Middle<br />
East and Saudi Arabia carrying export<br />
dry cargo and perishable shipments<br />
that have an important role in the<br />
growth of trade and economy of the<br />
country.<br />
TRADE CHRONICLE - <strong>March</strong>~<strong>April</strong> <strong>2015</strong> - Page # 38