Jameel appointed as SBP deputy governor

KARACHI (Staff Reporter): The federal government has appointed Jameel Ahmad, presently working as SBP Executive Director, as the deputy governor of State Bank of Pakistan (SBP) for a period of three years with effect from April 11. Jameel’s illustrious career as an accomplished central banker spans over 26 years working at senior positions at the SBP and the Saudi Arabian Monetary Agency (SAMA). Prior to his appointment as the deputy governor, he was serving as Executive Director, Banking Supervision Group and Financial Stability. He has also served as Group Head, the Operations, Banking Policy & Regulations, Development Finance, and Financial Resource Management. He is a member of SBP’s Monetary Policy Committee and various other management committees of the bank. He also represents the SBP on two international committees including Financial Stability Board (FSB)’s Correspondent Banking Coordination Group and the Basel Committee on Banking Supervision (BCBS)’s Task Force on Prudential Treatment of Assets.

Jameel did his MBA from University of Punjab and is a Fellow Member of the Institute of Cost & Management Accountants of Pakistan (FCMA), an Associate Member of the Institute of Bankers Pakistan and a Fellow Member of the Institute of Corporate Secretaries of Pakistan (FCIS).

Business leader asks govt to tackle threat of water scarcity

ISLAMABAD (INP): Pakistan is facing shortage of water while scarcity is increasing with a fast pace therefore the government should take steps to tackle the threat, a business leader said. Continued fall in availability of water is taking toll on masses, industry and agriculture but policymakers seem indifferent, said ICCI former president Atif Ikram Sheikh. He said, “Water scarcity is a bigger threat to our security than militancy as the country may run dry by 2025 resulting in violent conflicts in the country.” He said that the country may face drought-like situation in the near future if immediate and urgent steps were not taken that include containing wastage of water. Sheikh said, “It is very alarming that our capacity to preserve water has shrunk over the years while we have world's fourth highest rate of water use.” IMF has already declared Pakistan as the third most water-stressed country in the world while the economic impact of the water crisis would be immense, he added.

Dar hails FBR for registering record growth of 16.2pc in March

ISLAMABAD (INP): Finance Minister Ishaq Dar has appreciated the FBR for registering record growth of 16.2 percent in revenue collection in March, 2017 compared to the same period in the previous fiscal year. Addressing a meeting of senior officials of FBR, the minister emphasized that all out efforts must continue during the last quarter of the financial year to achieve the revenue targets. He stated that the shortfall that FBR experienced in the first eight months was due to the pro-growth incentives offered to various sectors of the economy particularly exports and agriculture. Major revenue gap amounting to Rs100 billion was due to the fact that the government had absorbed a considerable impact of increase in POL prices without passing it on to the common man, he added. He hoped that the FBR would be able to bridge the gap through a concerted effort.

WCCI pleas to extend soft loans to women

PESHAWAR (Staff Reporter): Women Chamber of Commerce and Industry (WCCI) has urged the financial institutions to extend soft loans to women intending to do business and ensure equal participation of women in decision making process. Addressing a news conference at the chamber house on Tuesday, WCCI Peshawar President Shamama Arbab said that the lending ratio of commercial banks is less than two percent in Khyber Pakhtunkhwa, as the region was declared ‘red-zone’. She said the banks should launch special loan scheme for women entrepreneurs and advocacy programme to give boost to their businesses. The WCCI president further said, “Our women are much talented and have the potential to compete at every level.” However, she said, their work was yet not recognised in an appropriate manner. She said the chamber strongly advocated the work of skilled women and has undertaken a number of initiatives to promote their work at local as well as at national level in other parts of the country.

Moreover, she said they launched a special programme to give boost to business of women entrepreneurs and to market their products by development of linkages with businesswomen in other parts of the country. She said the chamber also provided facilitation services to women entrepreneurs under ‘one-window’ operation service.

Flanked by the chamber’s chairperson, Fitrat Ilyas Bilour, vice president Umama Ishfaq and members of the executive committee, Arbab went on to say that the women industrial park will be setup to provide space to those skilled women want to establish their business. The chamber with support of the incumbent provincial government will return 25 percent of their investment after establishment of their business, she maintained.

Similarly, she disclosed that a women business international council, comprising on women worked at local as well as other countries, will be set-up with the aim to promote the manufacturing handicrafts of women at global market.

She also emphasized the need of economic empowerment of women to contribute their due share in development and progress of the country. She demanded to give equal representation of women in meetings and decision making forums.