Saturday, 29 December, 2012

ISLAMABAD

ONLINE

The Pakistan Economy Watch (PEW),Friday, lauded Government, Asian De-velopment Bank (ADB) and Fauji Fertil-izer Company Energy Limited (FFCEL)for promoting green energy in Pakistan.

All the stakeholders have played avery positive role in introduction ofgreen energy in the country facing acutepower shortages which has sent verypositive signals, said Dr. MurtazaMughal, President PEW.

President Zardari’s resolve to fullyexploit Gharo-Keti Bundar wind corri-dor to produce 50,000MW electricity isvery positive at a time when shortage ofelectricity has become a major challengefor the economy, he said.

Completion of Pakistan’s first ADB

funded 50MW windmill project inJhumpir is a greatstep in the rightd i r e c t i o nwhich willsend positivesignals across andprompt other in-vestors, he added.

Dr. Murtaza Mughalsaid that the government’sencouraging gestures towardsthe implementing companywill go a long way in luringlocal and foreign in-vestors which will bene-fit Pakistan.

Around 106Megawatt electric-ity would be in-cluded in the

national grid through NTDC when thewind energy proj-ects of FFCEL

and ZorluEnergy would

become opera-tional which is a

small additionalhaving a great sym-bolic value, he opined.

He said that Pakistaniand foreign companies can

develop more wind en-ergy projects if theyare encouraged by

government andthe Alternative

Energy Devel-o p m e n tBoard.

D r .

Murtaza Mughal said that Gharo-KetiBundar wind corridor can become hubof wind power sector attracting billionsof dollars of investment to producepower from free and clean energysource.

The funding by ADB will not onlyimprove energy situation, balance en-ergy mix and reduce oil import bill butit will also attract heavy investments toreduce poverty by creating thousands ofjobs. He demanded of the government topay special attention to the sustainableenergy resources through favorable pol-icy and regulatory environment whichwill push the growth of renewable greenenergy in Pakistan.

Grid access is not available to major-ity of people in Pakistan due to proxim-ity who can be benefited from renewablegreen energy sources.

GOVT LAUDED FOR PROMOTING GREEN ENERGY

ISLAMABAD

APP

THE public sector company-Oil and Gas DevelopmentCompany Limited (OGDCL)has planed to execute soon anumber of projects for de-

velopment of local communities livingaround Nashpa Oil Filed at districtKarak.

These schemes included, Water sup-ply schemes which would carried out at acost of Rs 208.07 million, construction ofroad at cost of Rs 44.937 million and es-tablishment of permanent set up of dis-pensary in the area, says the company’sspokesperson.

He said the company has alreadycompleted several Social Welfare Pro-grams of Water Supply Schemes, HealthCare and construction of roads in NashpaOil Field in District Karak with the cost ofRs 42.75 million.

He said the OGDCL playing a proac-tive role in supporting communities andinhabitant in the vicinity of NashphaField.

Several water supply projects havebeen undertaken in the villages includingManzlai, Alwargi, Sanda Khura, with thecost of Rs 27.00 million for provision ofclean drinking water through water booz-ers and installation of 25 pressurepumps.

He said the OGDCL has been facili-tating the local community residing in the

surrounding of Nashpa Field areathrough establishment of free medicaldispensary including provision of ambu-lance for shifting of critical patients toDHQ Hospitals Karak and Kohat.

He said the OGDCL conducts free eyecamps to facilitate the patients providingfree of cost check up, provision of eyesight glasses and feco operations to ahuge number of patients of this areaevery year.

He said all these services are pro-vided free of cost, even the company en-tertain the patients during camp. OGDCLhas spent Rs 3.861 million in health sec-tor for the local communities.

He said construction of NashpaBanda Road with an amount of Rs 11.948million is underway, the road will con-nect villages to the market and will boosteconomic growth and poverty reductionin the Nashpa Field area. Other smallprojects i.e. leveling of Katcha road wasalso executed.

To convert the young generation intoa positive, competent and trained man-power, OGDCL established a TechnicalTraining Centre at District Karak in2006, he added.

He said every year 100 students areenrolled for training in various disci-plines of Petroleum Industry and so faran amount of Rs 27.860 million wasspent for training including stipends tothe students.

Company is also providing free pickand drop facility to the local students.

OGDCL vies to excavate hope from NashpaPlans development schemes for communities at the oilfield

Sufficient quantity

of fertilizer available

for Rabi 2012-13

ISLAMABAD

APP

There is sufficient quantity of Urea andDAP fertilizer available to meet the require-ments of Rabi season 2012-13.According to the data of National FertilizerDevelopment Company (NFDC), about3.016 million tons of urea would be avail-able for the growers at affordable rates dur-ing the season. Out of the total stocks ofurea available in the country 1.920 milliontons are domestic production whereas 0.412million tons fertilizer are imported with re-maining 0.684 million tons of carry forwardstock from the last season, it added.The total offtake of the Urea fertilizer wasestimated at 2.984 million tons as againstthe estimated production of 3.016 milliontons during the current Rabbi season.It is expected that surplus stocks of about0.32 million ton urea will be available dur-ing the Rabbi crop season which would alsohelp to counter any practice of black mar-keting and hoarding, it added.Meanwhile, DAP stocks for the sowing pe-riod under review was recorded at 0.895million tons as against total consumption of0.729 million tons to produce healthy cropand increase per acre crop out-put in thecountry, it said. The total DAP stock at pres-ent is 0.985 million tons, including 0.342million tons domestically produced, 0.416million tons imported and 0.227 milliontons opening inventory.It is also expected that about 0.256 milliontons carry forward stock would be availablefor the next crop which would also help todiscourage hoarders and black marketers inthe open market.

ISLAMABAD

APP

Pakistan’s High Commissioner to MalaysiaMasood Khalid has lauded the role played bythe Malaysia-Pakistan Business Council(MPBC) in enhancing bilateral trade relations.

He said the Council formed in Marchlast year, has been serving as an ideal plat-form for tapping business opportunities inboth countries, said a press release receivedhere today from Kuala Lumpur, Malaysia.

Masood Khalid in an interview with

Malaysia’s news agency Bernama said theMPBC had already made a very good startby organizing various activities, includingthree well-attended cross country businessforums, sending business delegations toPakistan to attend trade exhibitions andconducting business matchmaking ses-sions for entrepreneurs from both sides.

He said that with the establishment ofthe council, Malaysian businessmen now hada platform to make further inroads into Pak-istan. “We can now talk about economic andsocial issues and other matters that were not

previously discussed by businessmen in bothcountries,” he added. Masood Khalid said thecouncil is a vital platform to spearhead morebusiness interactions as well as social and cul-tural exchanges. He also lauded the servicesrendered by MPBC Chairman Datuk Mo-hamad Salim Fateh Din and announced thatin recognition of Datuk’s contribution androle in enhancing economic cooperation be-tween the two countries, the Pakistani gov-ernment was awarding him a medal ofdistinction, which will be formally presentedto him on Pakistan Day, March 23 next year.

About his reflections on his life in Malaysia,Mr. Masood said he had been overwhelmedby Malaysian hospitality and touched by itspeople’s warmth and friendliness and wasleaving Malaysia with a tinge of nostalgia.He noted that there were many similari-ties between the two cultures because oftheir religious values, history and wide-spread use of English. When asked abouthis new posting, Masood said he waslooking forward to it and described theposting to China as an “important assign-ment for any Pakistani diplomat.

MPBC’s trade promotional role applauded

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02

Saturday, 29 December, 2012

Major Gainers

COMPANY OPEN HIGH LOW CLOSE CHANGE TURNOVERUniLever Pak 10000.01 10500.00 10000.00 10500.00 499.99 380Bata (Pak) 1320.00 1350.00 1349.00 1349.50 29.50 100Sapphire Textile 210.27 220.78 220.78 220.78 10.51 500National Foods 283.75 295.70 283.95 290.54 6.79 23,600Gatron Ind. 128.09 134.49 128.00 134.49 6.40 2,500

Major LosersSiemens PakistanSPOT769.84 770.00 755.00 757.24 -12.60 3,900Sanofi-Aventis Pak 375.00 365.00 365.00 365.00 -10.00 100Pak.Int.Cont. SD 229.13 231.00 218.26 220.03 -9.10 7,400Shahtaj Sugar Mills 88.75 84.40 84.32 84.32 -4.43 3,500J.D.W.Sugar 120.00 118.00 114.00 116.00 -4.00 900

Volume Leaders

P.I.A.C.(A) 3.80 4.76 3.63 4.43 0.63 20,269,500Byco Petroleum 13.22 14.11 13.31 13.92 0.70 18,633,500K.E.S.C. 5.67 6.03 5.55 5.94 0.27 11,389,500Jah.Sidd. Co. 16.04 16.80 16.03 16.52 0.48 9,981,000Askari Bank 16.75 17.75 16.80 17.41 0.66 9,230,000

Interbank RatesUS Dollar 97.2098UK Pound 156.4105Japanese Yen 1.1302Euro 128.1614

Dollar EastBUY SELL

US Dollar 97.40 98.10Euro 127.83 129.58Great Britain Pound 156.26 158.35Japanese Yen 1.1193 1.1335Canadian Dollar 96.69 98.63Hong Kong Dollar 12.31 12.59UAE Dirham 26.40 26.71Saudi Riyal 25.90 26.16Australian Dollar 99.96 102.79

Business

JS Investments announces

interim dividend for JS Cash Fund

KARACHI: The Chief Executive Officer underthe authority of the Board of Directors of JS In-vestments Limited has announced interim divi-dend for JS Cash Fund for the second quarter ofFinancial Year 2 0 13 , ending on December 31 , 20 12 with a payout of Rs. 2.50 per unit which wasapproved for the Unit Holders of JS Cash Fund .Unit Holders who have opted for cash payout willreceive cash payment while Unit Holders whohave opted for bonus units were allocated units atthe ex - dividend net asset value at the close ofbusiness on December 27 , 2 0 12 . The above enti-tlement will be paid to the Unit Holders, whosenames appeared in the register of Unit Holders atthe close of business on December 27 , 2 0 12.is in error, please contact the sender and deletethe material from any computer. Please note thatany views or opinions presented in this email aresolely those of the author and do not necessarilyrepresent those of the company. Finally, the recip-ient shall check this email and any attachments

for the presence of viruses. The company acceptsno liability for any damage caused by any virustransmitted by this email.

ICI Pakistan Limited –

Change of Directors

KARACHI: Lucky Holding Limited today com-pleted the acquisition of shares of ICI OmicronB.V. in ICI Pakistan Limited. Consequent to this,the Board of Directors of ICI Pakistan Limited hasbeen reconstituted with Mr. Muhammad YunusTabba appointed as the Chairman of the Boardand Mr. Muhammad Ali Tabba appointed as theVice Chairman of the Board. Furthermore, Mr. AliA Aga has been appointed as the Chief Executiveof ICI Pakistan Limited on a temporary basis tillFebruary 24, 2013 or as determined by the Board.

Samsung offers fabulous discounts

KARACHI: Samsung Electronics is a global Mar-ket leader in Household Electronics, Digital tech-

nology and Telecommunications. Recently it par-ticipated in the attractive and colorful Electro Car-nival 2012 held recently at METRO stores inKarachi, Lahore and Islamabad. Samsung offeredsome amazing discounts on a wide range of its cut-ting edge products. The Samsung products thatattracted an overwhelming response from the con-sumers, during the carnival included; the SamsungDigital Camera ST – 66 packed with features like;4608X3456 max resolution, 6.9 MB internal mem-ory, Micro SD/SDHC card options, 32 Scenemodes, USB 2.0 compatible, Li-ion rechargeablebattery, Built in flash, HDD movie, AV out, 16.1Mega pixel, 5X Optical Zoom, 2.7 inch TFT LCD.At the Carnival, this camera was offered for an at-tractive price of Rs. 6,999, whereas the originalprice of this device is Rs. 9,000.

Teradata workshop for executives

KARACHI: Teradata Corporation, the leadingdata analytic solutions company, announcedthat it has conducted a workshop at a leadinghotel for executives of major companies in the

finance and corporate sector. Stephen Brobst,chief technology officer, Teradata Corporation,conducted an engaging session on “Best Prac-tices in Enterprise Information Management,”and on “The (R)evolution from Business Intel-ligence to Consumer Intelligence.” He said,“leading edge organizations are deploying con-sumer intelligence applications, putting furtherrequirements on the data warehouse.” He fur-ther explained best practices architecture prin-ciples, which if employed, could drasticallyincrease value of ownership in an organiza-tion’s information environment. Other speak-ers at the full day seminar were Fawad AsrarQureshi, technical marketing manager, Tera-data, who gave an overview of the technologi-cal ecosystem, and Najia Naqvi, industryconsultant, Teradata, who shared the technol-ogy perspective on ”Integrated Marketing Man-agement.” The workshop was well attended byexecutive experts. The interactive sessions as-sisted the participants in generating creativesolutions to solve challenges faced within theircompanies.

CORPORATE CORNER

Oil up in Asia amid

last-ditch fiscal cliff talksSINGAPORE: Oil prices were up in Asia on Friday after USPresident Barack Obama called an 11th-hour meeting with topcongressional leaders to negotiate an elusive deal to avoid thefiscal cliff, analysts said. New York’s main contract, light sweetcrude for delivery in February added 42 cents to $91.29 a barrel and Brent North Seacrude for February delivery gained 28 cents to $111.08 in themorning.Traders welcomed news of Obama’s meeting with congressionalleaders later Friday, convened a day after he returned to Wash-ington from his shortened Christmas vacation, said Yang Weim-ing, premium client manager of IG Markets Singapore. AGENCIES

Change of guard at India’s Tata GroupMUMBAI: India’s head of the Tata Group empire, industrialistRatan Tata, retires on Friday — his 75th birthday — while qui-etly handing over the reins to a younger successor from outsidethe immediate family.Tata, who steered the group for 21 years as chairman, has beencredited with transforming it into a streamlined conglomerate ofmore than 100 companies and earning a global reputation foreye-catching acquisitions of Western firms.There was no event scheduled to mark the transition but thegroup last week formally named Cyrus Pallonji Mistry — the firstchief from outside the immediate Tata family in its 144-year his-tory — to be the new board chairman once Tata retired.From luxury cars to steel, Tata is India’s largest group with totalcombined sales of $100 billion in 2011-12, nearly 60 per cent ofwhich came from business outside India, mainly the UnitedStates and Britain. AGENCIES

LAHORE

APP

An exclusive project for economic recovery in29 districts of Pakistan, which were affected byflood in 2010, has been completed.

Small and Medium Enterprises Develop-ment Authority (SMEDA) have performed thetask with assistance from EU and UNDP. Thiswas revealed here on Friday in a presentationby SMEDA.

The project, since its start in July 2011, pro-vided Rs. 189.9 million in grant to 11,928 indi-viduals and 116 organisations for restoration oftheir enterprises and livelihood.

The presentation revealed that Rs. 30,000in grant per enterprise was provided to entre-preneurs for overall economic development ofareas affected by flood. Businesses engaged in

trade of agriculture and livestock inputs, pro-cessing of local materials and marketing of pro-duce were given priority.

The grants enabled selected entrepreneursto stabilise their businesses and play their duerole in supporting local economic activity andproviding requisite goods and services.

Realizing the importance of home based in-come generating activities, there was a specialfocus on enterprising females supporting theirfamilies. Over Rs. 38 million in grant was dis-bursed among 3,106 women engaged in microfood processing, micro farming and needlecraft.

Financial aid has given these females hopeand they are confident that they can make apositive contribution to income generation fortheir household, it said.

It further said that Rs. 43 million was dedi-cated for a segment of society who cannot helpthemselves. Widows, elderly people, orphansand marginalized individuals were identified onthe basis of poverty score and provided with Rs.7,120 each, creating opportunities for micro in-vestments. More than 6,000 individuals bene-fited from it.

Disbursement of Rs. 163 million to around12,000 people was a big achievement for thisproject, it further said. They are looking for-ward to additional support and facilitation fora more inclusive economic development, itadded.

PROJECT OF ECONOMICRECOVERY COMPLETED

NEW YORK

AGENCIES

WORLD stocks slipped onThursday after U.S. SenateMajority Leader HarryReid said the UnitedStates may be poised to go

off the “fiscal cliff,” while the yen hit a two-yearlow on expectations of aggressive monetarystimulus.

Reid, a Democrat, criticized Republicansfor refusing to go along with any tax increasesas part of a U.S. budget remedy and said theeconomy seemed to be heading over the “fiscalcliff” of impending tax hikes and spending cuts.

Economists warn that the $600 billion inhigher taxes and spending cuts set to kick infrom January could push the world’s largesteconomy into recession, dragging other coun-tries with it.

In another session driven by headlines onthe budget talks, all three major U.S. indexesfell more than 1 percent following Reid’s com-ments. But they sharply cut losses in late-ses-sion trading as the U.S. House ofRepresentatives set a work session for Sundayahead of the Dec. 31 deadline for reaching a

deal.On Wall Street, the Dow Jones industrial

average was down 16.30 points, or 0.12 per-cent, at 13,098.29, well off its lows. The Stan-dard & Poor’s 500 Index was down 1.66 points,or 0.12 percent, at 1,418.17. The Nasdaq Com-posite Index was down 3.33 points, or 0.11 per-

cent, at 2,986.83.Shares of U.S. retailers fell for a second day

following the Christmas holiday. The MorganStanley retail index was down 0.4 percent.

The MSCI global index was last down 0.1percent, while European shares ended down0.04 percent.

Stocks down on Reid’s‘cliff’ remarks; yen falls

LG seeks ban on

Samsung tablet

sales in KoreaSEOUL

AGENCIES

South Korea’s LG display said Fridayit had asked a Seoul court to ban thedomestic sale of Samsung’s GalaxyNote 10.1 tablet computer, citing al-leged patent infringements.The company, in the injunction filedon Wednesday, accused SamsungElectronics of infringing three of itspatents on the liquid crystal display(LCD) panels used on the GalaxyNote.“Through this action, LG Displayseeks to completely stop the sale,manufacture and importation of theinfringing Samsung product,” LG Dis-play said in a press release.LG Display also said it would requestcompensation amounting to 1.0 billionwon ($933,000) per day in the eventof continued non-compliance.The two companies have been in apatent row since September when LGDisplay — one of the world’s top flat-screen TV makers — filed suitsagainst Samsung Electronics andSamsung Display for allegedly in-fringing patents on seven organiclight-emitting diode (OLED)-relatedtechnologies.

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