TUV Austria awards Kansai Paint with OHSAS 18001 certification
LAHORE (Staff Reporter): TUV Austria BIC awarded the prominent paint manufacturers “Kansai Paint” with its well acknowledged OHSAS 18001 certification programme. Kansai has a modern and world class manufacturing facility in Lahore with dominant share in automotive paints business and is enjoying steady growth in decorative, refinish and industrial coating markets. With laws compelling safety and health a top most priority especially in the manufacturing industry, OHSAS 18001 management system not only provides a safe environment to do business but also minimizes the risk of production delay. TUV Austria BIC helps in implementing the system for an organization.
but helps demonstrating commitment to maintain an effective health and safety policy.
In the automobile paint business, Kansai Pakistan is supplying car paints to Toyota, Suzuki, Nissan, Honda, Hino, Sigma, Hyundai, Yamaha and Baluchistan wheels. The Company has been in the Pakistan automotive market since 1992.
OGDC declares 4QFY15 earnings of Rs19.2 billion
LAHORE (Staff Reporter): OGDC has declared 4QFY15 earnings of Rs19.2b (EPS Rs4.5), down 41.6% YoY (down 4.6% QoQ). This result announcement was in line with market expectations. The result also accompanied a final cash dividend of Rs1.5/share (FY15 cash dividend Rs7.75/share). OGDC’s net sales declined by 28% YoY to Rs50b in 4QFY15, due to 43% YoY decline in Arab Light Crude oil prices (benchmark for local E&P companies). During 4QFY15, OGDC’s oil volumes declined by 9% YoY to ~39.2k barrels of oil per day (bopd), while gas volume went down by 7% YoY to ~1,146mmcfd. Lower gas production is attributed to 4-26% YoY lower production from Bhit-Bhandra, Kadanwari and Qadirpur gas fields.
Exploration cost of Rs11.6bn booked during FY15 versus Rs8.7bn in FY14 also dented OGDC’s bottom-line. Surge in exploration cost was on account of 9% increase in cost of dry & abandoned wells to Rs4.8bn and 59% increase in prospecting expenditure to Rs6.7bn, which resulted from enhanced geophysical survey combined with higher operating expenses.
Dar discusses economic
cooperation with Turk Dy PM
ISLAMABAD (Staff Reporter): Federal Minister for Finance Ishaq Dar had a telephonic conversation with the Deputy Prime Minister of Turkey, Ali Babacan on Wednesday. They discussed matters relating to economic cooperation in general and bilateral cooperation between the two countries in the Asian Infrastructure Investment Bank (AIIB) in particular. They were pleased to share their strategies for forming a joint constituency in collaboration with other member states and agreed in principle to work together in a joint constituency. The two leaders also exchanged views on the upcoming operational policies of the new Bank and agreed to align their policy and position in this regard.
They expressed satisfaction over cooperation of delegations of the two countries during the formation of AIIB.
The Finance Minister of Pakistan and the Deputy PM Turkey agreed to continue and enhance cooperation between the two countries.
TEVTA to train 3700 students
in employable skills
LAHORE (Staff Reporter): TEVTA will train 3700 students in employable skills across the province of the Punjab. The youth will be trained free under Prime Minister Youth Skill Development Program Phase-II with the collaboration of National Vocational & Technical Training Commission (NAVTTC). An MoU was signed between TEVTA and NAVTTC here at TEVTA Secretariat which was signed by Chairperson TEVTA Irfan Qaiser Sheikh and Director General NAVTTC Punjab Javed Nisar Syed. While addressing the ceremony Irfan Qaiser Shaikh said that the training program has commenced w.e.f. 17th August, 2015. 42 short courses have been offered in this program. Every trainee will get a monthly stipend of Rs. 2500/- per month.
Prime Minister’s Youth Skills Development Scheme aims to be a beneficial scheme for providing training to develop skills in unemployed youth of province of the Punjab.
COMSATS announces 50 annual scholarships for Balochistan
ISLAMABAD (Staff Reporter): CIIT Islamabad has announced 50 annual scholarships for the youth of Balochistan. The scholarships have been announced as a follow-up of Gwadar Declaration and decisions of special meeting of heads of Inter-University Consortium for Promotion of Social Science (IUCPSS) hosted by the government of Balochistan on 9-10th April 2015 at Gwadar. Rector CIIT Dr SM Junaid Zaidi during a meeting with Sardar Muhammad Raza Barrech, Advisor on Education to Chief Minister Balochistan, informed this. Chairman IUCPSS and Vice-Chancellor University of Haripur Dr Nasser Ali Khan, Pro-Rector CIIT Dr Haroon Rashid, National Coordinator Inter-University Consortium M Murtaza Noor, and other officials were also present.
The rector CIIT also assured all possible cooperation to Balochistan government for establishment of Technology Park at Quetta.
Dr Nasser Ali Khan said as per commitments by the IUCPSS and its partner organisations, the consortium has already decided for allocation of seats for the students of Balochistan along with scholarship opportunities. The gesture by CIIT, in this regard, is quite appreciable. He also extended thanks to CIIT rector and administration of National Testing Service of Pakistan for hosting professional development workshop for the faculty members of Balochistan universities.
Sardar Muhammad Raza Barrech said that such steps would be greatly helpful for improving quality of teaching and research in the higher education sector of the province and would promote inter-provincial harmony as well. He believed that youth of province would benefit from this PhD scholarship programme and after completion of their studies, they would contribute for socio-economic development of the country.
Meanwhile, Chief Minister Balochistan Dr Abdul Malik Baloch, on behalf of coalition government and people of Balochistan, extended thank to the CIIT and IUCPSS for assisting government of Balochistan and undertaking practical steps for improving the state of higher education in the province. He remarked that award of 50 scholarships each year to the youth of Balochistan would be helpful in overcoming shortage of educated human resource in the province. He said that coalition government would continue to benefit from the expertise of the member institutions and partner organisations of the consortium in future as well.