FPCCI to hold 4th Pakistan Trade Expo in Canada

KARACHI (APP): Federation of Pakistan Chambers of Commerce and Industry (FPCCI) here on Wednesday announced that it will organise the 4th Pakistan Trade Expo 2018 at Toronto, Canada in October this year. FPCCI senior vice president Mazhar Ali, in a statement, said that the decision has been made in view of the success of the series of trade fairs arranged by the federation during the past few years. These events yielded fruitful results in terms of promotion of exports besides bilateral trade and economic relations with Canada, said the FPCCI official. He expressed his confidence that the event would help capture unconventional North American market that holds tremendous potential for the country's exportable products. Chairman of the Pakistan Canada Business Council of FPCCI, S M Muneer said leading entrepreneurs and industrial sector representatives are being invited to the Expo. He hoped that FPCCI Trade Expo will help explore new avenues for the promotion of the country's exports to entire North American region.

He said leading buyers, proprietors of chain stores and super stores from North American region are being invited whereas special business-to-business (B-2-B) meetings will also be arranged during the Expo.

SM Muneer mentioned that Canada is itself a potential market for textile, ready-made garments, rice, spices, ready to eat meals, construction material, leather goods, jewellery, biscuits and cookies, dry fruits, bed sheets, towels, surgical items, sports goods, brass and textile handicrafts.

JW Forland to launch more commercial vehicles in Pakistan

LAHORE (PR): China-Pakistan Economic Corridor (CPEC) is transforming Pakistan’s auto parts industry and will bring a lot of opportunities for the auto sector. This in turn will benefit the transport warehouses and freight forwarding services by further expanding the auto and logistics sector. Utilising the emerging opportunities in local auto sector, JW Forland has decided to invest at large scale and is concentrating on collaboration to meet the augmenting demand of four-wheel vehicles in the country. JW Forland, one of the largest automobile Chinese companies in the world, is all set to launch more brands in Pakistan with the aim of achieving top slot position in commercial auto vehicles category. Initially, JW Forland has already introduced limited editions vehicles in Pakistan that include Bravo (Cargo Truck) and Alpha (Dump Truck) while other commercial vehicles are expected to be launched in June this year. It’s worth mentioning that manufactures of Forland present the portfolio of most diversified production line.

PMIC, SWF ink MoU to implement project for 5,000 small rice farmers

ISLAMABAD (Staff Reporter): Pakistan Microfinance Investment Company (PMIC) and Sona Welfare Foundation (SWF) have Wednesday signed a MoU of Rs 260 million to implement an Agriculture Value Chain for 5,000 smallholder rice farmers in two districts, Nankana Sahib, Sheikhupura and Gujranwala, of Punjab. The MoU was signed by Chief Executive Officer PMIC Yasir Ashfaq and Chief Operating Officer SWF, Brigadier (r) Arshad Mahmood SI(M). Sona Welfare Foundation (SWF) is the corporate social responsibility wing of Fauji Fertilizer Company (FFC).  The value chain will include microfinance, profiling of farmers, awareness sessions and crop productivity enhancement trainings. The project will also establish linkages of the farmers with public and private entities for provision of agricultural inputs and uptake of resultant yield. Short Message Services (SMS) would also be initiated to keep farmers informed about weather updates and best agricultural practices.

This is an extension of the earlier partnership between the two entities wherein they successfully implemented an agriculture value chain for 1,000 cotton farmers in district Bahawalpur which resulted in increase in farmers’ income. A significant portion of the project will be allocated for microcredit to small holder farmers by PMIC through its microfinance institutions.

Speaking on the occasion, CEO PMIC Yasir Ashfaq said, “PMIC values its partnership with Sona Welfare Foundation (SWF) and as the microfinance apex institution, we aim to foster linkages with private sector entities to implement initiatives for the underserved communities in the country. PMIC and SWF share the aim to bring improvement in the lives of the underserved communities and in the coming years we aim to extend our partnership with SWF to reach out to 100,000 subsistence farmers in the country.”

Arshad Mahmood SI(M), Chief Operating Officer SWF, commented: “Our partnership with PMIC is significant towards improving the lives of the smallholder farmers in various areas of the country. Entering the second phase of our strategic alliance with PMIC, we feel our collaboration is important towards investments in agriculture to enhance the yields of smallholder farmers.

On this occasion, PMIC and SWF vowed to continue collaborative efforts to benefit subsistence farmers through microfinance and microfinance plus initiatives in Pakistan.

Senior officials of banks call on Miftah

ISLAMABAD (NNI): Finance Minister Dr Miftah Ismail had a meeting with senior officials of various banks here on Wednesday.  Special Assistant to PM on Revenue, Haroon Akhtar was also present on the occasion. The officials shared with the minister proposals concerning the banking sector for consideration and incorporation in the final budget document. The proposals focus on easing of tax regime for banks as it would help them enhance their financing ability and give a boost to economic activities in the country. Minister Miftah Ismail said that banking sector has a key role in development of the economy. It also has an important contribution in promoting the cause of financial inclusion besides providing financing facilities to business community, industrial sector and different commercial activities. He added that govt would fully encourage and facilitate the banks to bring up new attractive packages and products for the customers. Finance minister also assured that govt would accord due consideration to the proposals put forth by the banks' officials and accommodate them to the extent possible.