Pakistani student entrepreneur wins award

LAHORE (Staff Reporter): A Pakistani student entrepreneur has secured third position in a global business idea competition that was organised by the Entrepreneurs’ Organization (EO) in Germany, said the nominated EO Regional Chairman for Middle East, Pakistan & Africa (MEPA), SM Imran, who was also among the judges of the competition. He said a National University of Science & Technology (NUST) student Muhammad Asad Raza has bagged a distinctive position in the Global Student Entrepreneur Awards (GSEA) against his business idea of developing cost effective prosthetics to bring it within the reach of a common man. “Shoaib Malik from the Lahore Chapter of EO played a vital role in grooming the talented student entrepreneur,” he said. Imran said that as many as 56 students from more than 56 countries appeared in the competition. “The GSEA programme is an amazing global competition that brings together the world’s brightest and best entrepreneurs,” he added.



 Chinese delegation calls on LCCI chief

 LAHORE (Staff Reporter): Lahore Chamber of Commerce and Industry (LCCI) President Abdul Basit has said that Pakistan is one of the top flourishing economies of the world and owns best geographical location. While talking to a five-member delegation of Chinese entrepreneurs here at the LCC, he said that Chinese investment in power, textile, pharmaceutical, dairy, livestock and agriculture sectors can bring two friendly countries more closer besides attracting much-needed foreign direct investment (FDI) to Pakistan. He said that in the context of ongoing project of China-Pakistan Economic Corridor (CPEC), the need and importance of private-to-private contacts have mounted. In this scenario, the role of chambers of commerce has widened. Basit enlightened the Chinese delegation that Lahore has a special significance being the hub of business activities in Punjab. Both public and private sector organisations are striving hard to fully exploit the trade and investment potential of Punjab in collaboration with foreign investors.

He said that China is first choice for Pakistani businessmen to join hands for joint ventures. He hoped that the state level cooperation between two countries will bring greater fortune to both of us.




Trade with Pakistan stood at Rs 48b in 2016: Polish envoy

ISLAMABAD (APP): Polish ambassador to Pakistan Piotr Opalinski Wednesday said his country's trade volume with Pakistan stood at around Rs 48 billion during the year 2016. In a brief interview with APP here, he expressed confidence that Poland trade volume with Pakistan, which was 400 million Euro last year, would increase in the coming days as it was an attractive destination for foreign investment in diverse fields. Answering a question, Piotr said a Polish oil and gas company PGNiG was operating in Pakistan since 1997, which has planned to step up its exploration and production activities and take the business volume to $ 100 million per year. The company, which is celebrating its 20th anniversary in Pakistan, would drill 14 more oil and gas exploration wells in hydrocarbon potential areas and play an important role in meeting Pakistan's growing energy needs, he added.

The PGNiG, the envoy said, has so far invested more than 125 million dollars in Pakistan, adding that current daily production from the Rehman field stood at 24 mmscfd from four producing wells, which would be increased up to 90 mmscfd gas with full field development.

He said the increase in production required advanced technologies (horizontal wells, multiple transverse hydraulic fracturing) for which an investment of more than $ 300 million would be made.

"PGNiG is in active pursuit to increase it footprint in the Pakistani's upstream oil and gas sector and is also interested to develop the shale gas deposits here," he remarked.

In addition to investment in the oil and gas sector, he said, efforts were in hand to enhance cooperation in the defence and defence production sectors.




Pakistan, Morocco sign MoU for establishment of JBC

ISLAMABAD (APP): The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) and Moroccan Federation of Chambers of Commerce, Industry and Services (FCCIS) Tuesday signed a memorandum of understanding (MoU) on the establishment of a joint business council (JBC) at the Chamber of Commerce, Industry and Services, Casablanca. Ishtiaq Baig, Vice-President of the FPCCI, and Mustapha Amhal, President of FCCIS, signed the MoU in the presence of Pakistan's Ambassador to Morocco Nadir Chaudhri, members of the FPCCI delegation, Moroccan businessmen, members of the FCCIS and Casablanca Chamber of Commerce, Industry and Services, a press release issued here said. Under this MoU, FPCCI and FCCIS agreed to set up a joint business council to strengthen economic cooperation between Pakistan and Morocco in trade, investment, technology transfer, services and other industrial sectors.

The JBC, comprising of Pakistani and Moroccan businessmen, will not only provide a forum to discuss means of promotion of economic cooperation but it will also make recommendations to the respective governments in this regard.

The signing of the MoU is part of the efforts of Embassy of Pakistan, Rabat to diversify economic cooperation between Pakistan and Morocco.

The Embassy had invited a high level delegation from the FPCCI to visit Morocco from May 9 to 12. After signing of the MoU with Moroccan Federation of Chambers of Commerce, Industry and Services, the delegation held B2B meetings with Moroccan businessmen, Vice-President of Casablanca Settat Region and high officials of the General Confederation of Moroccan Enterprises (CGEM), Casablanca.

Moreover, the delegation will hold meetings with Islamic Centre for Development of Trade (ICDT) at Casablanca on May 10 and will also visit Marrakech on May 11 to meet the Wali of region and hold meetings with the General Confederation of Moroccan Enterprises (CGEM) and representatives of the Chamber of Commerce, Industry and Services over there.