Auto policy starts bearing fruit

ISLAMABAD (INP): President Pakistan Businessmen and Intellectuals Forum (PBIF) Mian Zahid Hussain has said the government’s auto policy has started bearing fruit as two foreign players have decided to invest in Pakistan automotive sector. Mian Zahid Hussain said that the new entrants will promote competition and three existing Japanese automakers will have to provide fuel efficient, comfortable and secure cars to the consumers at relatively low price, he said. He said that French automaker Renault, which is in business since 1899, has decided to start producing cars as early as 2018 in Pakistan while Nissan will follow the suit which will also benefit the masses. The President PBIF said that existing players continue to earn handsome profit but reluctant to introduce models with efficiency, safety and with latest features resulting in high fuel consumption and other losses, he noted. He said that masses are fed up of the cars with outdated technology and they want better products for their money which is only possible if new players step into Pakistan’s lucrative market.
Local players are producing over quarter of a million cars per annum but not ready to make compatible cars which is disturbing but now they will have to invest in up gradation, he observed.

Tevta to send 12 master trainers to Germany

LAHORE (Online): Technical Education and Vocational Training Authority (TEVTA) with the collaboration of Punjab Energy Efficiency and Conservation Agency (PEECA), will send its 12 master trainers to Germany to get 45 days advance training on Solar PV Technology. In this regard, an agreement was signed between TEVTA and The PEECA here at TEVTA Secretariat. Chief Operating Officer TEVTA Jawad Ahmad Qureshi and Managing Director PEECA Muhammad Qasim Khokhar signed the MoU. Chairman TEVTA Irfan Qaiser Sheikh said that master trainers will be sent next month to get advance training on Solar PV Technology in Hessen Institute, Germany. PEECA will bear the expenditure of the foreign training of master trainers. This selected group will further train to enrolled trainees after the completion of their course. After successful arrival, other groups of TEVTA teachers will also be sent later to Europe to get such trainings. He said that TEVTA has already started free 6 months Solar Photovoltic System Power for Generation Course.
This said course is successfully running at TEVTA Institutes located at Lahore, Faisalabad, Gujrat, Gujranwala, Sahiwal, Sheikhpura, Kasur, Taxila, Chakwal, Sargodha, Attock, Bahawalpur, Multan, Rahim Yar Khan, Bahawalnagar, Khanewal and Muzaffargarh to train 3000 youth during a year. No fee is charged from trainees. Rs. 1000 stipend is also being given to each trainee per month.

Rs39.37m for Commerce Division projects

ISLAMABAD (APP): The government has released as many as Rs39.371 million for commerce division projects under Public Sector Development Programme (PSDP) for the fiscal year 2016-17. In total, the government has allocated Rs 796.857 million for various ongoing and new projects of the commerce Division in the PSDP of current fiscal year. The funds of Rs 39.371 million have been released for the purchase of equipment, furnishing, curriculum development and training of Pakistan School of Fashion Design, Lahore. The total cost of this project has been estimated at Rs 755.7 million out of which Rs 196.857 million have been earmarked in the current PSDP. The government would also spend Rs 300 on the development of Expo Center Peshawar in the current PSDP out of its total expenditure of Rs 2,500 million, the data revealed. In addition, Expo Center would also be established in capital city of Islamabad with total cost of Rs 2,500 million, out of which Rs 300 million have been earmarked in the current PSDP.
It is pertinent to mention here that the government has released Rs151.032 billion for different social sector developmental projects so far under Public Sector Development Programme (PSDP) 2016 17 as against the total allocation of Rs 800 billion. The Planning Commission of Pakistan has been following a proper mechanism to release funds. The commission releases 20 percent of funds in first quarter (July September), 20 percent in second quarter (October December), 30 percent in 3rd quarter (January March)and 30 percent in fourth quarter (April June).

Kohat Chamber delegation visits ICCI

ISLAMABAD(NNI):- A delegation of Kohat Chamber of Commerce and Industry, led by its president Engr Syed Faiq Shah, visited Islamabad Chamber of Commerce and Industry (ICCI) on Friday and highlighted investment opportunities for local and foreign investors in various fields including oil & gas, coal, cement, flour milling, carpets making and other sectors in the region. Engr Syed Faiaq Shah said that Kohat offered great investment opportunities, especially in oil & gas and coal which were abundant in the area. He said 95% drilling in Kohat was successful and stressed that investors of Islamabad and other areas should visit Kohat to exploit abundant natural resources in the area. He said Kohat Chamber of Commerce and Industry was set up in December 2013, but it has not been allotted land as yet to construct its own building. He said non-availability of land was the major problem due to which the Chamber was facing problems in promoting the interests of local business community.
He called upon the KP government to allot land to his organization so that it could establish its own office and speed up efforts to facilitate the growth of trade and industry in the area.
Addressing the delegation, Khalid Iqbal Malik, President Islamabad Chamber of Commerce and Industry, said that on allocation of land to Kohat Chamber, ICCI would cooperate with it in constructing its own building. He said ICCI was making efforts for establishment of a new industrial estate in the region to give boost to industrialization. He said industrialists of Kohat would also be invited to set up industrial units in the new industrial estate. He said ICCI was ready to support Kohat Chamber in further strengthening its Secretariat so that it could play more effective role in serving the cause of business community.