SBP asks banks to facilitate senior citizens

KARACHI (Staff Reporter): State Bank of Pakistan advised all banks including microfinance banks to facilitate opening of bank accounts and provide banking facilities including ATM card, credit card, etc. to the senior citizens/pensioners without any discrimination vide its circular issued on Wednesday. It has been emphasized that senior citizens are an important and priority segment of our society who deserve special and dignified conduct. Banks including microfinance banks have been advised to ensure high level conduct by their employees while dealing with the senior citizens/pensioners and any violation of SBP instructions would be dealt with in accordance with the relevant provisions of Banking Companies Ordinance, 1962. It may be mentioned here that SBP has been receiving complaints that some banks were reluctant in opening bank accounts and providing banking facilities including ATM card, credit card, etc. to the senior citizens/pensioners on one pretext or another.

Such discriminatory practices have been viewed seriously by State Bank of Pakistan.

 PIA flights observed 88 percent punctuality in May

LAHORE  (Staff Reporter): Pakistan International Airlines over all achieved 88 percent punctuality rate this May, while its flights from Lahore to London stood out with 100 percent punctuality rate, said spokesman for the airline on Wednesday. The steps taken by the Pakistan International Airlines management to improve the punctuality and performance of the airline have started showing positive results as 3856 flights operated during May, at a daily average of 124 flights. This excludes the 260 flights delayed due to bad weather at various stations. Especially impressive remained the performance of Lahore-London sector on which 13 flights were operated during this period, and achieved record punctuality of 100 percent. Pakistan International Airlines Chairman Azam Saigol and CEO Bernd Hildenbrand closely monitor the improvements being brought about in the performance of the airline.

 ‘The Pakistan Show’ in United States from today

RAWALPINDI (Staff Reporter): The second edition of “The Pakistan Show” exhibition would start in Houston (United States) today (Thursday). The exhibition would continue till June 6, 2016. Rawalpindi Chamber of Commerce (RCCI) acting president Saqib Rafiq told media on Wednesday that introduction of Pakistani products would help promote business and trade activities in the country, besides strengthening the economy. “The purpose of holding such exhibitions is to attract foreign companies to purchase Pakistani products or to place orders for enhancing bilateral business relations,” he added. The products to be displayed at exhibitions would include furniture, jewelry, gemstone, textiles, electrical appliances, solar panels, interior decoration and information technology. The real estate sector has been given a separate pavilion in the exhibition this time, he added. Last year, the response was so good that this year RCCI decided to organize two exhibitions in USA. The second exhibition will be held at Dallas in August this year.

 Govt seeks cut in urea price

ISLAMABAD (Staff Reporter): Finance Minister Ishaq Dar chaired a meeting on Wednesday to take stock of urea prices in the country. The meeting discussed measures aimed at reduction in urea prices in line with instructions given by the PM. The finance minister highlighted the challenges that the agricultural sector, particularly small farmers are facing presently in the context of decline in international prices of commodities and higher cost of production. The finance minister impressed upon the urea industry to reduce their prices in line with the reduction in price of imported urea. The price reduction will increase off take of urea in the country, leading to enhancement in farm productivity and higher growth of agri sector. He assured that the government is considering providing relief to farmers in urea prices and the fertilizer industry is also required to contribute to this end in larger national interest. The representatives of the urea industry agreed to consider gov’s request.