Suggestions for inter, intra-city rail system discussed

Lahore (Staff Reporter): A session was held at Railways headquarter on Friday to discuss various suggestions for enhancing inter and intra-city rail system. The Railways minister Khawaja Saad Rafique presided over the meeting. The spokesperson for the railways said that various suggestions were come into consideration to facilitate the commuters of Lahore and adjacent cities in the meeting.  It had been decided in the meeting that soon a feasibility report would be prepared for the both projects (inter and intra-city) to utilise the track during ideal time, said the spokesperson, adding the Railways in collaboration with Lahore Transport Company and Lahore Metro Bus Authority would work on the projects.

Officials of the all three departments attended the meeting. 


Sindh to improve seafood and livestock exports

karachi (Staff Reporter): Minister for Fisheries & Livestock, Government of Sindh, Jam Khan Shoro has said that Sindh Government would take every positive step to enhance the seafood & livestock export of country. He said this while welcoming the European Union’s (EU) decision to allow duty-free access to Pakistani goods in European markets. He added that grant of Generalised Scheme of Preference (GSP) Plus status to Pakistan is a great achievement of present Government. He also said that the decision would have a very good impact on the Pakistani seafood & livestock exports, which has a great potential to earn the foreign exchange to the tune of $1 billion.

Minister maintained that the ministry would extend full support to seafood & livestock exporters and also facilitate the investors in these sectors.


LSE delists Askari Bank TFCs

Lahore (Staff Reporter): Term Finance Certificates (TFCs-2nd Issue) of Askari Bank Limited of total issue size of Rs 1500 million was subscribed on October 29, 2005 and was listed at LSE on December 26, 2005. The tenure of TFCs was of 8 years. These TFCs have been fully redeemed as reported by the company, which has now been duly certified by their auditors, vide certificate dated November 27, 2013. In view of the above, the Exchange has decided to delist TFCs-2nd Issue of Askari Bank Limited w.e.f. December 13, 2013. After delisting of TFCs, Askari Bank Limited 2nd issue from the Lahore Stock Exchange number of listed TFCs will remain nine (9).

Managing Director and Chief Executive Officer of Lahore Stock Exchange Aftab Ahmed Chaudhry congratulated the stakeholders of the Term Finance Certificates of Askari Bank Limited on reaching the successful maturity of the TFCs. MD also highlighted the steps taken by the LSE contributing to build a mechanism that has produced more transparency in the trading of the shares as well as to secure the investment of the investors. Lahore Stock Exchange is a fully electronic and completely automated stock exchange of Pakistan that is the only domestic exchange to have more than one trading floors in the region.


WB country director meets BISP chief

islamabad (PR): World Bank Country Director Rachid Benmessaoud called on Chairman Benazir Income Support Programme (BISP) M Enver Baig at BISP’s Secretariat Friday. During the meeting, chairman BISP assured the World Bank’s representative that all the targets would be achieved as per the project agreements. Chairman BISP explained that BISP was under the process of re-visiting and re-designing their graduation schemes. He gave a general briefing on the plans to involve local chambers of commerce for understanding the skills requirement of the markets and developing these skills through BISP’s Waseela-e-Rozgar initiative.

The BISP Chairman also talked about the proposals of placement of skilled workers in international markets, as well as providing micro-finance facilities, through Waseela-e-Haq initiative, enabling to establish their own businesses. The Chairman said that it is also the desire of Prime Minister of Pakistan that the poverty from Pakistan should be eradicated and economic empowerment at grass root levels is a vision of the Prime Minister. He added that we at BISP are committed towards achievement of that goal of the Prime Minister.

The WB official congratulated Enver Baig on his appointment as the new chairman of BISP and hoped that the relationship between two organizations will further strengthen under his leadership.


GSP Plus status welcomed

LAIIORE (PR): Iftikhar Ali Malik, Member Advisory Committee of Planning Commission and co-chairman Businessmen Panel highly appreciated the European Union for giving GSP Plus status to Pakistan enabling it to have a duty free access up to 2017 for the export of textiles. It will certainly help the textile industry to increase its exports and the volume could be multiplied if the new items are designed, produced and marketed in 27 states as per their demand. Malik also appreciated the efforts of the Governor of Punjab, Ch Muhammad Sarwar, who, a week before in a meeting with the Federation delegates, assured that he will do his best to persuade the European Union countries to grant this status to Pakistan.

 as it is in dire need of increasing its exports and creating employment by activating the economy.