Poor education system a threat to economy

Lahore (Staff Reporter): Pakistan Businessmen and Intellectuals Forum (PBIF) said Pakistan’s dysfunctional system has become a threat to society and economy. Pakistan is going through a severe education crisis as ever tenth illiterate school-age child in the world is a Pakistani which continue to deter foreign investors, it said. Foreign investors would shy away from countries with high illiteracy rates as it create problems for them as far as the availability of skilled labour is concerned, said President PBIF, AKIA and First Vice Chairman of the Businessmen Panel Mian Zahid Hussain. Decades of apathy has placed Pakistan in second position on the global ranking of out-of-school children after Nigeria, he said.

Mian Zahid Hussain said that majority of the poorest countries would allocate more resources to the education leaving Pakistan with one of the highest illiteracy rates in the world.

He said that lack of financial support and commitment on the part of governments has left a minimum of 25 million children without schools while their number could swell to 50 million in fifteen years with disastrous social and economic consequences.

He said that 17.6 per cent of children are working instead of going to school while 23 per cent of all school-age children, mostly girls in rural areas, are still out of school for various reasons that include absence of like separate toilets.

Currently a minimum of 1,000 schools have no building, 30,000 school buildings are shambling and many more have no boundary walls, he said.

Teachers and students in many government schools have to focus more of roof than education to save themselves from loose bricks that can fall on them anytime.

Education of the girl child is extremely important as no education policy can work without gender balance which is yet to be taken seriously, he said.

Child labour is a result of the poor economic conditions of the country which can be tackled through government’s move to ensure equitable distribution of wealth, the veteran educationist said.

He said that government funds are skewed towards higher education while the lower income classes are unable to enjoy subsidies and opportunities.

Quality of education is declining due to shortage and quality of teachers, out-dated curriculum, poorly equipped laboratories, cheating, lack of facilities and overcrowded classrooms, he noted.

Huawei to enter market with new identity of PC manufacturer

Lahore (Staff Reporter): The Global Technology Giant, Huawei, has finally decided to enter the enterprise world with a new identity; PC manufacturer. Huawei Technologies has so far earned remarkably good fame across the world for best of smart technological products. Recently in Pakistani market the Company has launched its all new flagship smart phablet, Huawei Mate 8, to which customer market responded incredibly well. Entry into PC market will certainly going to disturb the technology competitors, as Huawei is a name of high the quality products at comparatively best prices. The expected PC to begin with is Huawei “Matebook”.

Matebook, if it is the first laptop by Huawei to begin with PC manufacturing, will also accelerates the company’s chase to the over take global technology competitor for the 2nd largest technology manufacturer title. Samsung and Apple must take it serious because so far this is quite evident from the smart phones market growth that Huawei has some serious sort of guts and it can definitely going to disturb the PC market as well for the competitors with Matebook.

Furthermore, there are rumors that the Technology Champion is planning to work in collaboration with Intel Corporation for the chipset solution for Matebook. That will to an extent buttresses the idea that Huawei can gradually establish its strong footing in the PC world and for that, smart move is to collaborate with the best chipset manufacturers. Although this would not be the whole story for Huawei PC sector, technology analysts predict, as Huawei has wonderfully succeeded in Smart phone chipset production and even Huawei is quite comfortable in developing more powerful chipset solutions, say kirin 955.

Although it is also observed that the PC market has been in declining trend over the past year with only 71.9 million units shipped worldwide in the last quarter of 2015. Leading PC market leader Apple has to worry in this regard as soon reducing customer demand for the PC is going to be reinforced with Huawei PC manufacturing. Huawei Matebook is anticipated to be the high technology bearer with quality display relative better screen size and sound qualities, large storage volumes and, of course, comparatively best price. These are the norms associated with Huawei Technologies and if is true for Huawei PCF sections as well then there are lot of factors to leave Apple in tough situation.

Languishing customers demand for Personal Computers is mainly due to the fluctuating currency rates affecting shipments, and largely due to least innovative approach by the PC manufacturers to fascinate the consumers. To the extent of currency fluctuation, it is common factor for all the PC manufacturer of global spectrum and hence Huawei has to just face the same. But difference can be made when Huawei can stabilize an optimum balance in quality plus technology and price for its product. Consistent pattern of growth and a chained demand fashion if establishes it will certainly do away with conventional hurdles.

However, on the part of innovative idea, it is already witnessed in the smart phone sector that Huawei has a lot of new and innovative ideas to seize the markets effectively. In this regards Huawei’s ability to understand the customers demand and the mode of best utility are superior as well. Nevertheless, the impediments can be the distribution chains and an outlet for the Huawei PCs. Certainly Huawei is to announce at least one tablet in the next month’s “Mobile World Congress” in Spain. So we can assume despite of apparent difficult environment and factors in the PC world, Huawei is all set to invade the market and for that it will be rather acceptable to the Technology Giant to face least profits in the initial phase.

Regardless of the market condition and consumer trend it is expected that Huawei will surely bring at least a change, as critics agree, that will rejuvenate the world of personal computers as well. Probably this will be the way how PC users going to experience the best technological exposure amid the highly competitive market.

Al Meezan Investments launches Asset Allcation Plan-III

Karachi (PR): Al Meezan Investment Management Limited (Al Meezan) announced the launch of the Meezan Asset Allocation Plan-III (MAAP-III), under Meezan Financial Planning Fund, a Fund of Funds Scheme. It is a unique asset allocation plan for investors who wish to benefit from the equity market and want an actively managed investment portfolio with diversification. The plan has an initial term of two years and is now open for subscription. Mohammad Shoaib, CFA, CEO of Al Meezan, while announcing the launch of the plan said “Meezan Asset Allocation Plan series has very been very well received by the investors with initial investments of Meezan Asset Allocation Plan I and II totaling approximately Rs. 2 Billion.

MAAP-III is the third tranche in the series and is an ideal investment avenue for those who wish to take up to 100% exposure to equities. Al Meezan is currently managing assets of over PKR 13.2 Billion in Fund of Fund and capital preservation schemes.”

He further added that “The objective of the Plan is to earn a potentially high return through asset allocation between Shariah Compliant Equity Schemes and Shariah Compliant Income/Money Market Schemes. Our fund managers with their proven expertise will make best investment decision to optimize the returns for investors.”

Al Meezan managing investments since 1995, has one of the longest track records of 20 years in the private sector in Pakistan. With AM2+ Management Quality Rating, Al Meezan has the distinction of being the largest private sector Asset Management Company in Pakistan with total Assets Under Management (AUMs) of over Rs. 71.57 billion (as on December 31, 2015) in 12 different funds and an investor base of over 38,000 clients. Al Meezan also has to its credit Pakistan’s largest private sector Equity Fund i.e. Meezan Islamic Fund (MIF) and largest Voluntary Pension Fund i.e. Meezan Tahaffuz Pension Fund (MTPF), with AUMs of over Rs. 27.6 Billion and Rs. 5 Billion respectively (as on December 31, 2015).

Tax recovery: excise department fails to achieve target

RAWALPINDI (Online): The Punjab Excise and Taxation Department (ETD) has failed to achieve its target in terms of tax recoveries across the province including Rawalpindi district. The ETD Director General (DG) has reportedly cancelled leaves of all employers till Jun 30 after the shortfall with a direction to achieve the target at all costs. A source in ETD told Online that after the failure in collecting taxes in the Rawalpindi, the DG has divided the Rawalpindi Property Tax Branch (RPTB) into two zones headed by Excise and Taxation Officers (ETOs) for each zone. The DG has ordered the ETOs to take stern action against deflators and achieve the tax target at all cost.

Country progressing on fast pace

Lahore (APP): The incumbent government has improved the economic situation which has bolstered the confidence of investors, as law and order situation has improved which has enhanced image of the country while bold steps aimed at reforms is being supported by the business community and the majority of the masses. Patron Islamabad Chamber of Small Traders and honorary Consul General of Ghana Shahid Rasheed Butt on Saturday talking to ambassadors and high commissioners of various countries and others during a recent reception, said that Pakistan is progressing on fast pace and this country is becoming darling of the investors. Shahid Rasheed Butt said that business community unconditionally supports the right decision of the government to sell PIA.

, Pakistan Steel Mills (PSM) and power distribution companies which is in the best national interest.

He said that PIA and PSM have emerged as a great threat to economy and impact of these bleeding enterprises can be as devastating as the circular debt.

Opposition should not have tried to use issue of PIA to meet political ends as it amounts to compromising national interests over petty political gains which is unfortunate, he added.

Shahid Rasheed Butt said PIA is ten times less efficient as compare to other airlines that has translated into a loss of Rs 300 billion which cannot be tolerated.

He said that foreign exchange reserves were at 6 billion dollars when the incumbent government took to the helm which are now at 20 billion dollars. Inflation was 8.3 percent in 2013 which is now at 3.3 percent while growth rate, large scale manufacturing and private sector credit is picking up.

The veteran business leader said that situation of tax collection has improved as around three hundred thousand new tax payers have been added in the taxpayers list