OICCI dismayed over FDI inflow

KARACH(Our Staff Reporter): The Managing Committee (MC) of Overseas Investors Chamber Commerce and Industries, expressed its dismay on the poor FDI inflow of only $87 million reported by State Bank of Pakistan for the period July–August 2014. This is a significant drop of 37pc compared even to the very low base of same period last year.  Commenting on the dismal FDI inflow, OICCI President, Asad S. Jafar, said that it highlights the fact that “potential overseas investors are giving more weightage to security, energy shortages and transparency in governance and ignoring the business friendly policies and the very good business potential in Pakistan”.
The Managing Committee of the OICCI whilst reviewing the business environment urged the federal and provincial governments to take emergency measures in order to attract higher FDI inflows as low FDI retards economic growth and has long term implications.
In conclusion Asad S Jafar, once again urged the Government to fill all the key vacancies in the Regulatory and State-owned organisations and urged the Federal and Provincial Governments to introduce a robust accountability mechanism to build confidence, check poor implementation of policies and help counter the negative image of the country amongst potential overseas investors.

Swiss Airlines considers resuming
operations in Pakistan

lahore (Our Staff Reporter): Consul General of Switzerland Emil Wyss has said that companies such as Swiss International Airlines are considering resuming their operations in Pakistan, while Swiss Business Council is also planning to have a trade show at the Karachi Airport where Swiss and Pakistani companies will be participating. He expressed these views during his meeting with high-ups of Punjab Board of Investment and Trade (PBIT) along with head of Commercial Section Jordan James Din and Commercial & Administrative Officer Ajwat Arsalan Khan.

 Earlier, a brief presentation on PBIT and Pakistan- Switzerland trade relations was given to the Consul General and his team.

 It was also proposed during the meeting that Swiss Business Consul and PBIT should sign an MoU to further enhance cooperation between the two organizations.
It is worth mentioning that Swiss Business Council has already planned a delegation to Switzerland to introduce Pakistani companies and extended an invitation to PBIT to nominate companies for the delegation.

IEEEP workshop highlights significance of solar energy

LAHORE(OUR STAFF REPORTER): The Institution of Electrical & Electronics Engineers Pakistan organized a one-day workshop on “Harnessing of solar energy by technology management” in collaboration with University of Central Punjab. The workshop was attended by the eminent engineers, energy experts and executives of the companies engaged in the solar system from all over the country. The aim of the workshop was to highlight the significance of the solar energy to overcome the current energy crisis in the country.
Engr. Mohsin M. Syed, President IEEEP, was the resource person. He highlighted the utility of the solar energy as an alternate, economical and cost effective source of energy to meet the rising demand of energy in Pakistan. The President emphasized the need to switch over to the solar energy, which is the energy of the future and provides off-grid solutions to the far-flung rural areas. Besides domestic use, the solar energy has the potential and capability to be used in the commercial and industrial sectors. Later on, certificates were awarded to the participants of the workshop.

All products of Pak lifestyle expo in India sold out in first three days

ISLAMABAD (APP): All products displayed at 4-day “Alishan Pakistan”, the second edition of the lifestyle Pakistan exhibition in New Delhi, were sold out in first three days held on Sept 11 last. One of the expo participants, Hameed Akhtar Chadda, former Vice President Federation of Pakistan Chambers of Commerce and Industry on return to home told APP here Wednesday that the Trade Development Authority of Pakistan (TDAP) held the expo comprising 260 stalls which received unexpected unprecedented response from the people of India as all products were sold out during first three day of the 4-day event.
He said that Pak made branded products especially lady fabric have now become very popular in India because of its best quality in line with international standard. He said that lady fabric was hot item of the expo as large number of Indian ladies thronged to stalls and purchased on the spot on cash payment.
He said exhibition showcased top quality of Pak textiles, including high-end designer wear, various furniture houses were also exhibited. The first 4-day lifestyle expo was held from April 12.2012 in the same city.
Hameed Akhtar Chadda said that expo was an initiative of TDAP to further build on the efforts of the government of Pakistan and India to normalize flow of trade between the two neighboring countries.”With a trade potential of billions of dollars between the two countries, the event not only offered a unique opportunity to the trade community of India to interact with their Pakistan counterparts but also a first hand opportunity for customers to feel and own the best quality products”.
He said TDPA Chief Executive S.M.Munir and Chairman United Business Group and VP SAARC Chamber of Commerce and Industry, Iftikhar Ali Malik had made elaborate arrangements for holding the expo a real success in India.
He said that Federation of Indian Chamber of Commerce and Industry (FCCI), Confederation of Indian Industry (CII) and SAARC Chamber of Commerce and Industry besides Indian government extended all out best facilities to Pak participants.

Assad elected KP Aptma Chairman

PESHAWAR (our Staff Reporter): Barrister Assad Saifullah Khan, Director, M/s Kohat Textile Mills Ltd, Kohat has been elected unopposed chairman, Zonal, Regional Managing Committee All Pakistan Textile Mills Association (APTMA) Khyber Pakhtunkhwa Region. The elections were held in APTMA House, Tehkal Payan, Jamrud Road, Peshawar. Barrister Assad Saifullah Khan is son of Salim Saifullah Khan and nephew of Anwar Saifullah Khan and Humayun Saifullah Khan, a well-known politician of Pakistan. He is first cousin of Senator Osman Saifullah Khan former Aptma chairman KPK zone. His uncle Dr. Iqbal Saifullah Khan is well known heart physician in Pakistan while Javed Saifullah Khan is prominent businessman.
Barrister Assad Saifullah Khan is member board of directors of Saif Textile Mills Ltd, Saif Energy and Green Fuels Ltd. All office bearers and members of Zonal, Regional Managing Committee APTMA (KP Region) for the year 2014-15 including one representative Sikandar Kuli Khan Khattak, Director M/s Babri Cotton Mills Ltd,  of the KPK Zone/Region in the APTMA Central Executive Committee, Karachi, were elected unopposed.
Others who elected were included, Mohammad Taimoor Shah, Director M/s Sarhad Textile Mills Ltd, Gadoon as Vice-Chairman while, Ghulam Hussain, GM (Finance) M/s Babri/Janana De Malucho Textile Mills Limited as Treasurer and Raza Kuli Khan Khattak Chief Executive M/s Babri Cotton Mills Ltd, Afan Aziz, Chief Executive M/s AJ Textile Mills Ltd, Gadoon and Fazle Subhan, G.M M/s ITHFZ Mills Ltd, Gadoon as members of the Zonal, Regional Managing Committee.
Speaking on the occasion, Barrister, Assad Saifullah Khan thanked the textile industry of the province for reposing confidence in him, saying Khyber Pakhtunkhwa is terrorism affected and pledged to leave no stone unturned for industrial development of the province.
He also vowed to continue struggle for announcing a special relief package for the industries of the province and steps for the resolution of the problems of the members of association on priority basis.