SECP registers 480

companies in September

Islamabad(Staff Reporter): The SECP has registered 480 new companies during September 2015. The companies' registration has shown an increase of 18 percent as compared to same period of last year. Four foreign companies were also registered by the CROs in Islamabad, Karachi and Lahore. Around 94 percent companies were registered as private limited companies, while around 4 percent companies were registered as single member companies. Two percent of the companies were registered as public unlisted, associations' not-for-profit, and foreign companies. Twenty-five new companies received foreign investments from countries such as Belgium, China, Germany, Hong Kong, Nigeria, Russia, Sweden, Turkey, UAE, UK and Ukraine.

These companies were from auto and allied, chemical, construction, cables and electrical goods, engineering, food and beverages, fuel and energy, power generation, trading, information technology, mining and quarrying, power generation, and transport.

During the month, the highest numbers of companies, i.e. 157, were registered at the Company Registration Office (CRO), Lahore, followed by 141 and 101 companies registered with CRO Islamabad and Karachi respectively. The CROs Peshawar, Multan, Faisalabad and Quetta registered 29, 27, 18 and 7 companies respectively.

British high commissioner visits Islamabad Stock Exchange

ISLAMABAD (PR): British High Commissioner to Pakistan, Philip Barton visited Islamabad Stock Exchange Limited (ISE). The purpose of visit was to chalk out plans for future cooperation between the two countries with special emphasis in the areas of Investor Education and Investment for regional development of Capital Market in Pakistan. Mian Ayyaz Afzal, MD-ISE on the occasion stated that stock exchanges are playing a vital role in the economic development of the country and progress of the stock exchanges depends on increased awareness of the investors. He appreciated the interest of Philip and thanked him for his visit.

Philip emphasised that there is a dire need to put more efforts to educate the Northern Pakistan and to increase their participation in Capital Markets to strengthen the economy.

Agri scientists urged to focus on research in wheat crop

MULTAN (APP): Director General Agriculture (Research) Punjab, Dr Abid Mehmood has urged the agriculture scientists to pay more focus on research to improve wheat quality and yield. He stated this in a ceremony regarding researches in wheat crop, said a press release issued here by agriculture department on Wednesday. DG agriculture Abid Mehmood informed Pakistan produces nearly 25 million tons wheat every year. He added that Punjab produces 19 million tons wheat annually but per acre yield capacity of the country was low as it was nearly 28 maunds per acre only. Abid observed that per acre yield capacity of China, Ukraine, Canada, India and America was more as compared to the yield in the country.

He maintained that there was need to work in areas especially wheat diseases, dried-ness, conservation, quality improvement, temperature management etc.

Currently, Pakistan was ranked at 8th regarding wheat yield but it could improve its ranking further by the dint of more research in this field, he added.

Earlier, agriculture scientists informed that 157 research based experiments would be conducted in next year. The scientists also numerated different achievements in wheat crop and hoped to improve these further.

FPCCI president asks Paspida to focus on research work

KARACHI (INP): The FPCCI is ready to support the Pakistan Automobile Spare Parts Importers & Dealers Association (Paspida), however they should focus on research and development work with authentic and accurate facts. This was stated by Mian Adrees, President FPCCI, while presiding the first meeting of the newly elected trade body for the year 2016. Adrees said that the govt should announce the automobile industry policy immediately and make Paspida as a stakeholder. Chairman Paspida Naeem Shaikh informed the forum that due to illicit smuggling this association has affected severely, however at the same time the import duty has reached on its peak due to which the local manufacturers are also facing serious difficulties.

He said that the exports of only auto parts industry in Thailand is 25 billion that is more than the total exports of Pakistan. He request FPCCI to play its role and arrange a meeting with FBR and Ministry of Finance to resolve their genuine issues.

Private sector urged to enhance trade and exports

ISLAMABAD (INP): The private sector was the driver of economic growth in Pakistan and it should be more proactive to focus on utilising market intelligence tools in order to make informed decisions and compete more effectively in national and international markets. This was observed by Esam Alqarara, UNIDO Representative while addressing business community. He said these tools greatly help in identifying new opportunities for promoting trade and exports. Manuel Albaladejo, Industrial Development Officer, Vienna International Center, UNIDO said entrepreneurs could greatly enhance business prospects by utilising market intelligence tools including modern data processing technologies and information deployment techniques.

He said with increased pressures from globalisation, awareness and usage of market intelligence tools has become essential for businesses to produce products that meet the international standards and improve the competitiveness in the domestic market. He assured that UNIDO was ready to cooperate with ICCI for creating maximum awareness about the importance of such tools in the business community.

Speaking at the occasion, Atif Ikram Sheikh, President, Islamabad Chamber of Commerce and Industry said that business entities in many developing countries have achieved phenomenal results by developing strong market intelligence systems and stressed that UNIDO should join hands with major Chambers of Commerce and Industry in Pakistan to start training programs aimed at strengthening the capacity building of private sector for adoption of these latest business promotion techniques.