Meezan ‘best Islamic bank of year 2017’

 KARACHI (PR): The Banker, a prestigious publication of the Financial Times Ltd, London, has recognised Meezan Bank, Pakistan’s first and largest Islamic bank as the best ‘Islamic Bank of the Year 2017’ in Pakistan.

The award goes to the firm that has demonstrated excellence in its initiatives and achievements while providing viable financial solutions to its customers. Meezan Bank has been recognized for going from strength to strength in recent years and for focusing on a strategy deliberated on financial inclusion, effective cost management and product and service innovation. Through various initiatives, the Bank has played a pivotal role in accelerating the formalisation of the Pakistani economy, a factor that has made a significant contribution to the Bank’s recognition as the Best Islamic Bank for 2017.

In addition, Meezan Bank has also participated in a number of syndicated lending deals that have raised the profile of Islamic finance in Pakistan over the said period. Lastly, Meezan Bank’s recognition also incorporates its role in benefiting Pakistan’s capital markets through its expertise in Shariah-compliant finance, particularly for providing re-composition services for the Pakistan Stock Exchange’s two Islamic indices – the All Share Islamic Index and Karachi Meezan Islamic 30 Index. The indices were launched with the assistance of Meezan Bank and it is the only lender in Pakistan to provide re-composition services.

The Banker’s recognition of Meezan Bank’s outstanding work and contributions further manifests bank’s continuous commitment to strive for excellence in Islamic banking in Pakistan.

 SNGPL to endeavor to supply blend of gas to industrial consumers

LAHORE (PR): SNGPL Wednesday contradicted a news item that appeared in a section of press on September 6 (Wednesday), regarding reduction in blend of system gas being supplied to industrial sector from 35% to 28% wef September 1, 2017.

According to SNGPL press release, as a key initiative for overcoming the acute energy crises prevailing in the country, SNGPL leads the way for pursuing imports of liquefied natural gas (LNG). With the injection of RLNG into the system and effective management of available gas supplies, SNGPL has been able to ensure uninterrupted gas supplies to all sectors of consumers on its network.

The gas in SNGPL’s network is a blend of indigenous system gas and imported RLNG. It is pertinent to mention here that there is only change in ratio of the blend and SNGPL ensure no cut in gas supply to the industrial sector on SNGPL’s network.

It was further clarified that change in ratio of indigenous system gas is only due to increase in demand of high priority consumers (domestic) in the Northern areas and that SNGPL shall continue its endeavors to supply blend of gas to its industrial consumers in the greater interest of the country.

 Tribute paid to martyrs, ‘Ghazis’

LAHORE (PR): The country’s working class paid tribute to the heroic sacrifices of the martyrs and ‘Ghazis’ of September 1965 war in a meeting held under the aegis of All Pakistan Workers Confederation on Wednesday.

During the meeting, the participants urged the policy makers and political parties to spare no effort to make the country self reliance and prosperous. They also demanded free standard education for each child, success in the modern technology, social democracy, elimination of poverty and unemployment. They asked the government to free the nation from the yoke of foreign debts.

The meeting was addressed by the Veteran Trade Union Leader Khurshid Ahmed (General Secretary of the Confederation), President Rubeena Jameel, Additional Secretary Akbar Ali Khan, Niaz Khan and Ch Muhammad Anwar, Osama Tariq, Haji Muhammad Younus, Haji Latif and Sajid Kazmi.

Later, the delegation of the All Pakistan Workers Confederation and All Pakistan Wapda Hydro Electric Workers Union CBA visited monuments of Major Aziz Bhatti Shaheed and offered Fateha for the martyrs of 1965 war and commended their heroic sacrifices they rendered for the defence of the mother land.