Haripur businessmen visit RCCI


RAWALPINDI (Staff Reporter): A delegation of Haripur Chamber of Commerce and Industry, led by its president Shiekh Muhammad Ilyas, visited Rawalpindi Chamber of Commerce and Industry (RCCI) to congratulate Raja Amer Iqbal, president, and other office bearers of RCCI on their election. The delegation expressed hope that the newly elected office bearers of RCCI will play an active role in addressing business community’s issues and promoting trade activities in the region. RCCI President Raja Amer Iqbal assured the visitors that RCCI would extend full support to Haripur Chamber of Commerce and Industry in its endeavors aimed at resolving the issues of business community and promoting business activities in the region. Amer Iqbal said that his team will be vocal on all issues linked with the business community through RCCI platform. “We will bridge the gap between traders and government.” Senior Vice President Rashid Waien, Vice President Asim Malik, group leaders Sheikh Shabbir, former president, members of the executive committee and others were also present at the occasion.

In the end, Amer Iqbal presented a memento to Shiekh Muhammad Ilyas.



ABC elects office-bearers

KARACHI (PR): The American Business Council of Pakistan (ABC) Executive Committee has elected Sami Ahmed, vice president Procter & Gamble Pakistan (Pvt) Ltd, as president; Zehra Naqvi, chief executive Chubb Insurance Pakistan Ltd., as senior vice president and Akram Wali Mohammad, chief executive Gerry’s International (Pvt.) Ltd. [FedEx], as vice president of ABC. This was announced at the 32nd annual general meeting held at the Chamber recently. The other elected members of the ABC Executive Committee are Syed Anis Ahmed, Managing Director & CEO Abbott Laboratories (Pakistan) Ltd, Tasleemuddin Ahmed Batlay, director Colgate-Palmolive (Pakistan) Ltd, Tauqir Ahmed, chief executive officer DuPont Pakistan Operations (Pvt.) Ltd, Amin Mohammad Khowaja, executive director & general manager JP Morgan Pakistan (Pvt) Ltd; Irshad Ali Shaban Ali Kassim, chairman Karam Ceramics Ltd, Arshad Rahim Khan, Managing Director OBS Pakistan (Pvt) Ltd, Dr Farid Khan, Managing Director & CEO Pfizer Pakistan Ltd, and Jarri Masood, country general manger 3M Pakistan (Pvt) Ltd.

 Newly elected office bearers and Executive Committee members assumed office with effect from October 1, 2016.


State Bank for demonetisation of all old design banknotes

ISLAMABAD (NNI): The State Bank of Pakistan (SBP) on Wednesday said that as per federal government’s gazette notification dated 4th June, 2015, the old design banknotes will cease to be legal tender with effect from 1st December. Therefore, it has now been decided to phase out all remaining old design banknotes of Rs 10, 50, 100 and 1000. The Rs 5 banknote and the old design Rs 500 banknote have already been demonetized. It is worth mentioning that the SBP issued a new design banknote series which started with the issuance of Rs 20 denomination banknote in 2005 to improve the security, durability and aesthetic quality of banknotes. The process of issuance of complete series of new design banknotes comprising eight denominations (Rs 5, 10, 20, 50, 100, 500, 1000 and 5000) was completed in 2008. The commercial/microfinance banks will accept the old design banknotes of Rs 10, 50, 100 and 1000 and exchange the same with the new design banknotes and coins of all denominations up to 30 th November 2016 only.

However, SBP BSC field offices will continue to accept the old design banknotes of Rs 10, 50, 100 & 1000 from general public up to December 31, 2021. The last day to exchange all old design banknotes from banks is November 30, 2016.All old design banknotes shall cease to be legal tender on December 01, 2016 while last day to exchange all such banknotes from SBP BSC field offices is December 31, 2021.




Chinese furniture industry keen to further enhance collaboration with PFC

ISLAMABAD (INP):  The leader of the visiting Chinese furniture manufacturers delegation Zuo Boyang on Wednesday said they want to further enhance collaboration with Pakistan Furniture Council (PFC) to promote furniture business and pave way for improved trade ties between the business communities of the either countries. A high level Chinese furniture delegation, on a 2-day visit to Pakistan, Wednesday visited PFC head office to exchange their expertise and experiences in regard of enhancing ties in furniture sector. Zuo took keen interest in various made in Pakistan furniture products and thoroughly discussed the ways and means for boosting the furniture trade especially office furniture and strengthening the existing business relations among the corporate sectors of two countries on modern lines. Zuo Boyang, leading Chinese furniture producer, said Pakistan’s furniture with calligraphic engraving had great demand in international markets, which seems to be the dominant one in Pakistan.