profitepaper pakistantoday 05th february, 2013
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profitepaper pakistantoday 05th February, 2013TRANSCRIPT
LHC summonsreport onsubstandardCNG cylindersLAHORE: Lahore High Court Chief
Justice Umar Ata Bandial Monday
sought action against substandard
CNG cylinder manufacturers
summoning a detailed report from the
Oil & Gas Regulatory Authority
(OGRA) till March 13. The single
judge bench comprising the chief
justice passed the orders on a petition
filed by petitioner-counsel Rana
Mehtab. Earlier, Secretary OGRA
Zainul Abideen Quershi appeared
before the court and submitted that
mostly CNG cylinder explosions took
place in public transport vehicles
whereas there were no reports of
explosions in private vehicles. He
mentioned various steps taken to stop
cylinder explosions. APP
KSE closeshigher, rupeeweakensKARACHI: Pakistan's stock market
closed higher on Monday, with the
telecommunications sector taking the
lead as investors predicted earnings
would be stronger than expected,
traders said. The Karachi Stock
Exchange's (KSE) benchmark 100-
share index ended 0.13 percent, or
21.84 points, higher at 17,288.07.
"(The) Telecom sector remained in the
limelight as investors expect December
quarter earnings will be better due to
an increase in international call rates,"
said a dealer. Telecard rose 24.38
percent to 4.54 rupees. Pakistan
Telecommunication Corporation rose
5.21 percent to 19.40 rupees. In the
currency market, the rupee ended
weaker at 97.73/97.79 against the
dollar, compared to Friday's close of
97.70/97.75. Overnight rates in the
money market remained flat at nine
percent. STAFF RePORT
Pak-ChinaBusiness Forumfrom March 23ISLAMABAD: COMSATS Institute of
Information Technology (CIIT) will
organise the second Pak-China
Business Forum from March 23-26 to
explore new avenues of cooperation
for mutual benefit of the two friendly
countries. Its objective is to promote
collaboration between universities
and industries. Major Chinese and
Pakistani companies, small and
medium enterprises, entrepreneurs,
universities, and research and
development organisations will attend
the forum activities, said official
sources. The seminar will comprise
project exhibition, seminars,
workshops and an industrial academic
expo. CIIT introduced an academia
driven model of Business Cooperation
by establishing Pak-China Business
Forum to promote academia-industry
collaboration in business and
economic sectors. The forum will
provide an opportunity for
commercialisation of products and
processes of the participating
organisations. APP
Business community, defense institutions
interaction is needed for country’s
wellbeing — Zafar Bakhtawari
01
ISLAMABAD
APP
THe Ministry of Commercehas announced adoption ofa number of guiding princi-ples to create a competitiveenvironment by rationalis-
ing the tariff protection policy (TPP).According to the new Strategic Trade
Policy Framework (STPF) 2012-15 an-nounced by the government recently, thehigh tariff protection maintained over a pe-riod of time erodes competitiveness and af-fects consumer welfare.
Thus the ministry will adopt the fol-lowing guiding principles: promote com-petitive markets in the country, ensureconformity to international agreementsand practices, promote domestic and for-eign investment, create level playing fieldfor Pakistani firms in international as wellas domestic markets, provide due consid-eration to consumer welfare, cater to thechanging needs of Pakistan's economy andcreate an enabling environment to pursuethe legitimate goal of industrialisation inthe country. Similarly under the STPF2012-15, the ministry will establish thePakistan Land Port Authority (PLPA) tostrengthen regional trade.
According to the policy, trade integra-tion with South Asia, China and the eco-nomic Cooperation Organisation (eCO)countries is likely to increase the volumeof trade flows across land borders.
However, “our borders at land ports
lack world class trade facilities,” the policysaid. According to the policy, the land portswill be transformed into efficient facilita-tors of trade and simultaneously become re-sponsive to security issues and smuggling.
The ministry in the trade policy has
proposed to establish the Pakistan LandPort Authority as a statutory body, underthe administrative control of the Ministryof Interior with representation from rele-vant federal entities as well as from the re-spective provincial governments.
BUSINESS
BTuesday, 5 February, 2013
LAHORE
ONlINe
Oil and Gas Regulatory Authority (OGRA) hasput in place a petroleum levy on Liquefied Petro-leum Gas (LPG) shifting the burden of increasein gas price by Rs 5 per kilogram onto consumers.
Per a private TV channel, OGRA had im-posed the levy at the rate of Rs11.50 last year,which was challenged by the LPG marketingcompanies in Lahore High Court (LHC). The
court had suspended implementation of the noti-fication on this count but OGRA has now intro-duced a new formula after a lapse of 8 monthsunder which petroleum levy at the rate of Rs3500 per tone has been enforced on LPG fromFebruary 1st. The consumers will have to bearthe brunt of this levy as the gas will now costthem at an increase of Rs 5 per kilogram.
The LPG marketing companies have saidthey will challenge the SRO again in the court,as it is unjust and unfair.
FPCCI RESPONDS TO STRATEGIC TRADE POLICY FRAMEWORKKARACHI: The Federation of Pakistan Chambers of
Commerce and Industry (FPCCI) issued its
response to the Strategic Trade Policy Framework
announced earlier this week by the Ministry of
Commerce. While commenting on the export
target of $95 billion for the next three years
envisaged by the ministry, FPCCI President
Haji Fazal Kadir Khan Sherani said it was a
realistic announcement but would still
require commitment and hard work in
view of the energy and security crises
facing the country. He also appreciated the
fact that regional trade with ECO, China and SAARC had
been recognised as an area of priority by proposing the
idea of an exclusive Pakistan Land Port Authority. At the
same time, Pakistan’s weakness in the areas of fruit, meat
and food processing had also been identified, and the STPF
contained proposals to address these areas by encouraging
industrial units in Balochistan, KP, FATA and Gilgit-Baltistan,
he said. The FPCCI had in the past been raising these
issues with the government at various forums. On the
other hand, there were also some weaknesses in
the STPF, which could not be overlooked from the
point of view of the business community of the
country according to the FPCCI. For instance, the
announcement of STPF came near the end of the
incumbent government’s tenure, which raises a
question mark about who would implement it,
after the present government’s term ended, said
Sherani. While it was true that some of the
business community’s demands, such as
reduction in mark-up for export-oriented
industries had been acknowledged, yet there was nothing in
the STPF to address some other thorny issues, such as
smuggling on the western border, improvement in
infrastructure on both the eastern and western border
trading posts, and the biggest problems of all- energy, and
law and order, he said. Surprisingly, the STPF also does not
contain adequate provisions for the textile sector, which
makes up more than 50% of our exports, he added. NNI
Businessmen providedWeBOC training
ISLAMABAD
APP
Business community, exporters as well as importers were educated andprovided initial training on the Web-Based One Custom System(WeBOC) during a session held at the Islamabad Chamber of Commerceand Industry (ICCI) on Monday. Customs Deputy Collector Faiz Alichaired the session and explained important features of the WeBOCincluding increased customs efficiency and efficient deployment ofresources, minimal clearance time at port, minimal customs processingtime, paperless and single window customs operations, reduced cost ofdoing business and less clearing/handling charges. He informed thebusinessmen about the efficiency of the system for maintaining bettercash flows, transparency and integrity, on the mark revenue realisation,cargo information, on-line manifest filing and many other features. Hesaid the customs department is striving to make WeBOC more familiarwith stakeholders and customs officials are always available to resolvetheir problems related to the system. The deputy collector said WeBocwould not only drastically reduce the time for clearance of goods butwould also work in accordance with the latest SROs and the internationalprice mechanism. Speaking on the occasion, ICCI President ZafarBakhtawari appreciated the deputy collector for bringing in thetechnologically advanced system for the benefit of the businesscommunity. Bakhtawari said the Customs Department should establishfacilitation desks for achieving better results and conduct massiveawareness campaigns for businessmen. He said customs should alsopromote industrialisation by adopting a business friendly approachtowards the business community and industrialists. He said that localimporters and exporters have some reservations over custom procedureswhich could be addressed by easing regulations and procedures andeliminating corruption, making the system more efficient and organised.
OGRA slaps petroleumlevy on LPG
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MFN status to India will
not affect the Kashmir
cause — Manzoor WattooBUSINESSTuesday, 5 February, 2013
Major Gainers
COMPANY OPEN HIGH LOW CLOSE CHANGE TURNOVERBata (Pak) 1384.99 1454.00 1394.00 1400.00 15.01 450Fazal Textile 270.29 283.80 283.80 283.80 13.51 100Exide (PAK) 336.61 349.90 336.75 348.15 11.54 10,300Atlas Honda Ltd 157.79 165.67 158.50 165.67 7.88 36,100Philip Morris Pak. 156.96 164.80 164.80 164.80 7.84 7,100
Major LosersNestle Pakistan Ltd. 5170.00 4911.50 4911.50 4911.50 -258.50 120Indus Dyeing 628.90 598.00 597.50 597.50 -31.40 200Wyeth Pak Limited 915.00 900.00 900.00 900.00 -15.00 50Millat Tractors Ltd. 636.96 640.00 625.01 627.12 -9.84 48,600Siemens Pakistan XD 605.56 622.00 600.00 601.00 -4.56 2,250
Volume Leaders
Telecard Limited 3.65 4.58 3.75 4.43 0.78 37,391,000P.T.C.L.A 18.44 19.44 18.51 19.39 0.95 28,102,500Pace (Pak) Ltd. 3.11 3.59 3.11 3.48 0.37 22,615,500Lotte PakPTA 7.34 7.80 7.31 7.72 0.38 20,799,500Maple Leaf Cement 17.90 18.20 17.29 17.39 -0.51 19,815,500
Interbank RatesUSD PKR 97.7857GBP PKR 153.7289JPY PKR 1.0508EURO PKR 132.9690
ForexBUY SELL
US Dollar 99.10 99.80Euro 132.65 134.99Great Britain Pound 153.98 156.65Japanese Yen 1.0524 1.0700Canadian Dollar 97.60 99.94Hong Kong Dollar 12.50 12.79UAE Dirham 26.73 27.15Saudi Riyal 26.23 26.59
NIT’s sales promotion
kiosk at ‘All About Life
Styles Exhibition’ ends
KARACHI: Three days kiosk organized by NIT at
Expo Centre from February 1-3 to familiarize the
people about the opportunities of profit by
investment in NIT funds ended on Sunday. A heavy
turnout of visitors was witnessed at NIT stall. A
very useful database of perspective customers has
been compiled during the event days to help NIT
marketing force to explore further. Chairman/MD
NIT Mr. Wazir Ali Khoja also visited NIT kiosk and
appreciated the teamwork of NIT staff deputed at
NIT kiosk. PReSS ReleASe
Jubilee Life thanks its
Bancassurance partners
KARACHI: Jubilee Life Insurance recently
celebrated yet another successful year of
Bancassurance business by holding an entertaining
gala event for its partners. The event was aimed to
appreciate the outstanding performance of its
partners and thank them for their contribution in
the success. Event was attended by Jubilee Life’s
Bancassurance partners, Commissioner of
Insurance (SECP), directors and senior
management of the company, along with other
prominent and well known personalities from the
corporate world. Jubilee Life pioneered
Bancassurance in 2003 and is now the largest
player in the Bancassurance arena with 11 partner
banks. With its innovative product offerings and
unparalleled levels of customer services, Jubilee Life
cemented its market leadership with over 50% of
total new Bancassurance premiums written in 2012.
Mr. Javed Ahmed, Managing Director & CEO Jubilee
Life speaking to the guests said, ‘I am delighted in
celebrating our proud achievements together with
our partners. I attribute this success to my team
and on the top to all our partners whose
commitment and focus served as the key ingredient
to the success of Bancassurance.’ PReSS ReleASe
Dawlance 1100-A
automatic washing
machine offers innovative
washing solution
KARACHI: Dawlance, the no. 1 home appliances
brand of Pakistan recently launched a new
Automatic Washing Machine (Model # 1100-A) to
add to its already impressive range of washing
machine models. This latest addition has loads of
technically advance features i.e. Hassle Free Wash,
One Touch Operation, Power Failure Resumption,
Delay Start-up, Child Safety Lock and Tub Clean
Option which will revolutionize the way clothes are
being washed in households today. Speaking at the
launch Mr. Hasan Jamil, head of sales, Dawlance
said: “Dawlance understands that people now
expect much more from a washing machine than
just washing of clothes. A hectic lifestyle leads to a
continuous need for comfort which is in part
provided by Dawlance’s innovative home appliances
like the 1100-A automatic washing machine. The
thought process behind the development was
providing the busy women of today with a solution
to ease the hassle behind the daily washing of
clothes. No longer do women need to take out time
from their hectic lives to wash their household’s
clothes. Everything can be done with a touch of a
button giving them enough free time to tend to
other chores.” Speaking at the launch, Ms. Naushin
Shahid, Category Manager, Dawlance added,
“Dawlance 1100-Automatic washing machine is a
breakthrough in washing technology. The Delay
Start-up feature makes washing possible anytime
during a day. Just set a certain time and the
machine will automatically wash the clothes without
a need for supervision. The Power Failure
Resumption feature allows the washing machine to
carry on with the washing without restart in case of
a power failure. Besides this it also has the regular
One Touch Operations, Customized wash feature,
Hassle Free Wash, Tub Clean Option and a Child
Safety Lock. Households can avail the innovative
solutions provided by the Dawlance automatic
washing machine 1100-A at the same price as
some of the semi automatic washing machines
available in market today.” PReSS ReleASe
CORPORATE CORNER
KARACHI: Former Turkish diplomat Erkut Onart’s photography exhibition was held at Grandeur
Gallery at Zamzama. Photo shows Turkish Consul General Murat Mustafa Onart, Grandeur CEO
Neshmia Ahmed and Yasmeen Haider. PR
KARACHI
NNI
SenIOR management andleadership of around 28public and private sectorcompanies (also includ-ing many multinationals)
will be awarded the 3rd Global CeOexcellence Awards-2013 at a splendidceremony to be held here at MarriottHotel on February 9, 2013.
Senior Federal Minister forCommerce Amin Fahim will be thechief guest on the occasion and willalso give away awards to heads ofsuccessful public, private, and multi-national companies. The GlobalMedia Links (GML) and Better Pak-istan Forum are organising the awardceremony to admire excellence inleadership in various aspects andspheres of corporate, private, public,and industrial management.
The awards will be conferred invarious categories of innovativeleadership demonstrated by chair-men, CeOs, and managing-direc-tors, and other highly placedofficials of large, medium, and smallenterprises, industries, public, pri-vate, and government sector organi-sations. The prime feature of thisyear’s CeO excellence Awards will
be the presentation of MultinationalCeO excellence Awards-2013 to of-ficiating heads of 10 leading and dis-tinguished multinational companiesworking in Pakistan.
For selecting 10 coveted win-ners of Multinational CeO excel-lence Awards, the event organizersextensively browsed through pro-files and achievements of over 50multinational organisations and theirrespective top business leadershipactive in Pakistan.
In view of the event organisers,the presence of promising multina-tional organisations like these on thenational economic scene wouldsurely help in boosting a soft andbusiness-friendly image of Pakistan.
These outstanding multination-als are being given awards as theyensure continuance and further con-vergence of foreign investment inPakistan where often issues relatedto law and order and energy shortfallhinder commercial, industrial and
economic progress of the country.Another prominent feature of the
programme will be the holding of“Global Innovative Business Leader-ship Summit” also being organised onthe sidelines of the award ceremonythe same day. This summit would beaddressed by leaders of a number ofeminent organisations of the countryas panellists of the forum.
The awards programme is thefirst of its kind in Pakistan, where,nominees were selected through aprofessionally handled process andwere adjudged according to interna-tionally accepted standards and prin-ciples of leadership excellence.According to the statistics of GlobalCeO excellence Awards-2013, sincesoft launching of the award competi-tion some two months back, around150 business houses made initial con-tacts with the GML for getting firsthand information about the event.
Over 75 institutions had later en-sured their participation in the awardcompetition by sending in nomina-tions of their senior leadership forawards in various innovative cate-gories. The jury for selecting win-ners of Global CeO excellenceAwards-2013 comprised of six lead-ing industry experts including twointernational judges.
3rd Global CEO ExcellenceAwards-2013 on Feb 9
KARACHI: Executive Vice President of National
Bank of Pakistan (NBP) Irtiza Kazmi receives
the 3rd CA Award from Sindh Women’s
Development Minister Tauqeer Fatima Bhutto
as Syed Ibne Hasan, Senior Vice President and
Head of Corporate Communication PT and
Brand, looks on. STAFF PhOTO
KARACHI: ZONG has once again outdone its competitors by announcing the winners of its
Carnama offer. Through this offer the telecom giant has rewarded 5 fortunate subscribers with
brand new Honda Civic cars and 40 subscribers with motorbikes. Picture shows Berkat Ullah,
Regional Director ZONG, handing over the key of Honda Civic to lucky winner Ghulam Yasin. PR
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