Ufone, BF illuminate homes
LAHORE (PR): Ufone, an Etisalat group company, has collaborated with Buksh Foundation, a microfinance organisation, to bring convenience through electricity by becoming a part of the latter’s ‘Lighting a Million Lives’ campaign. The pilot project has been initiated in two villages in Chiniot and through this campaign Ufone intends to facilitate the access and use of solar lighting devices among Pakistan’s rural communities as part of its CSR programme.
A Solar Charging Station with five solar panels and five junction boxes has been set up in two villages, Thata Deva and Kalas. Lanterns have been distributed within households and these may be recharged through these solar panels. This initiative will remove the need for kerosene oil lamps and therefore, reduce carbon emissions into the atmosphere in the long run.  It also aims to empower women as these stations will be run by selected women from the two villages, where they will be in charge of renting out and selling equipment at the charging stations.  Considering that about 43pc (80 million people) of the total population of Pakistan lives without access to electricity, this will really illuminate the lives and homes of many village residents.

GE opens third office in Karachi
LAHORE (PR): GE (NYSE: GE) has further strengthened its presence in Pakistan by establishing its third office in Karachi. Sarim Sheikh, GE’s President & Chief Executive Officer for Pakistan, inaugurated the office.
 With two other offices in Lahore and Islamabad, GE is focused on strengthening its operations in the country.  GE’s main businesses in Pakistan include Power Generation, Oil and Gas, Energy Management, Aviation, Transportation, Healthcare and Lighting.  GE has the distinction of being one of the first companies to install steam and gas turbines in Pakistan. Today, GE-built equipment generates over 25% of Pakistan’s electricity and more than half of Pakistan Railways’ and PIA’s operating fleets use GE technology. GE will continue to assist in various sectors, including power generation, clean renewable energy and aviation.

PACRA maintains JS Bank rating 
KARACHI (PR): PACRA has maintained the long-term rating of JS Bank at “A+” (A Plus) and Short term at A1 (A One), respectively.
These ratings denote a very low expectation of credit risk emanating from a very strong capacity for timely payment of financial commitments. The ratings reflect JS Bank’s demonstrated ability to restrict infection in its finances portfolio despite volatile macroeconomic fundamentals of the country. This is attributable to JS Bank’s rigorous loan approval process and effective post disbursement monitoring.  The ratings take into account the bank’s ability to achieve strong growth while capitalizing on its expanding network and benefiting from its sound technology platform.  Consequent fortification in size is expected to bring further granularity to its deposit base along with adding diversity to the lending book.  

Kansai Paints holds musical evening
LAHORE (PR): Kansai Paints organised musical evening on the launch ceremony of Kansai Spectrum Color Studio, where CEO Kansai Paints Agha Zafar Abbas along with CEO Kansai Paints Middle East Ameer Hamza Hassan, were present. Guest from the industry and social circuit were present at the launch. Agha Zafar Abbas (CEO) addressed the gathering and spoke about this new color studio and how would it help its consumers.

Sindh Bank gets Islamic Banking licence
KARACHI (PR): State Bank of Pakistan (SBP) has granted Islamic Banking license to Sindh Bank for the commencement of Islamic Banking operations. The bank successfully completed the pre-launch phase on a fast track, and now work started on pre-commencement phase in full swing.
The first Islamic Banking Branch of Sindh Bank will open its doors soon with innovative deposits and financing products for the customers, backed up with distinct Islamic brand, strong Shariah compliance mechanisms, state of the art IT platform and best human resource.

FCC recognises donors’ support
LAHORE (PR): Forman Christian College (FCC) held a banquet to appreciate and thank the donors for their support towards the cause of education. Formanite Jehangir Khan Tareen was the chief guest on the occasion.
Since 2008, FCC has been able to support 8,163 students with PKR 432 million raised with the help of the donors. Jehangir Khan Tareen, who has set up the Jehangir Khan Tareen Scholarship to support 29 students, acknowledged FCC’s role in providing an education to students who would otherwise not have had access to it. CEO Millat Tractors, Irfan Aqueel also commended FCC’s role in bringing about a change in the community and guiding students to the path of enlightenment.
Towards the end, Rector FCC Dr James Tebbe thanked the donors for their generosity and spoke of the infrastructural developments at the university and projects planned for the future.