Availability of skilled manpower key to success

lahore (Staff Reporter): President Faisalabad Chamber of Commerce and Industry Engr. Sohail bin Rashid said that availability of skilled manpower is not only a key to success for industrial development of Pakistan but also for individual socio-economic prosperity and poverty alleviation in the society. Close and effective liaison with the industry can help TEVTA for training the youth in demand driven and employable trades. He was addressing a seminar regarding sensitization & TVET Networking event with the selected Chambers of Commerce & Industries across the Province of the Punjab organized by Technical Education and Vocational Training Authority (TEVTA) in collaboration with a German NGO, GIZ.

 Vice President Faisalabad Chaudhary Muhammad Asghar, Members of Executive Committee of Chamber of Commerce and Industry, TEVTA District Board of Management, renowned industrialists, TEVTA management was also present on the occasion. He also said that Pakistan has plenty of natural and human resource for economic development.



RCCI for exploring non-traditional items for enhancing exports

RAWALPINDI (APP): RCCI on Friday highlighted need for exploring non-traditional items to help boost the country’s exports besides reactivating the role of commercial councilors at missions abroad. “There exists a potential of about $35bof country’s exports but this could only be achieved through exploring new vistas and reactivation of commercial councilors posted abroad,” President RCCI Dr Shimail Daud Arain said while addressing meeting of Chamber’s committee on Export. He said that economy of a country cannot flourish sans boosting exports therefore those getting perks in foreign exchange should be reactivated to fetch maximum share of Pakistani products in the international market.

Asad Mashahdi, Member of the RCCI’s Export Committee, stressed that there was a dire need to explore the markets of SAARC countries which have tremendous potential for the Pakistani products.

He said that RCCI with the cooperation of USAID and Ministry of Commerce had arranged a conference to explore market of the Central Asian States, which would soon start bearing fruits in the export sector.

The meeting was attended among others by Senior Vice President Mailk Shahid Salim, Vice President Muhammad alam Chughtai and other members of the Export Committee.



Tax revenue overestimated in budget: PEW

ISLAMABAD (INP): The PEW on Friday said government income due to taxation has been miscalculated in the budget as FBR tax collection target of Rs 2,810 billion is unachievable. Government has failed to broaden the tax base leading it to increased burden on existing taxpayers and to widen the scope of  WHT as well as indirect taxation, it said. The FBR has planned to meet the target through reliance on utility bills, collecting Rs 50b through WHT, and other initiatives but it would miss the target as usual, said President PEW. The FBR is expecting Rs15b through five per cent tax on bonus shares without realising that people would find out ways to give dividends to shareholders bypassing taxes making whole exercise unproductive. 

He said that FBR would hardly be able to collect Rs 2500 to 2600 billion due to narrow tax base, exemptions and extra leniency towards 2500,000 retailers.



WMBL launches ATM card

ISLAMABAD (Staff Reporter):  Waseela Microfinance Bank Ltd has launched ATM /Debit Card as a means to address the banking needs of growing customer base. The ATM /Debit Card launch was jointly announced by Rashid Khan, Chairman WMBL and President and CEO Mobilink and Ghazanfar Azzam, President & CEO WMBL in a ceremony held in Islamabad. With the launch of this facility, Waseela Microfinance Bank is one of a few Microfinance Banks that facilitate their customers for banking transactions through ATM machines across the country. Rashid Khan, Chairman WMBL and President & CEO Mobilink, said, “Waseela Bank believes in empowering its customers with facilities that bring convenience and ease to their lives.”

I am confident that with this service along with many to come, the Bank will continue to bring innovation to the palms of our customers”.

Ghazanfar Azzam, President & CEO Waseela Microfinance Bank commenting on the product said, “ATM/ Debit Card is an essential device for migrating consumer cash to safer electronic mode of transactions. The service will specially add value to our customers who can now use over 7600 ATMs across Pakistan for making financial transactions and withdrawing cash”.

Waseela Microfinance Bank’s ATM /Debit Card can be used for withdrawal of cash, transfer of money, account information and other corporate solutions like disbursement of salary and social disbursements. It can be operated at any 1-Link or MNET ATMs across the country.



Weekly inflation up by 0.53pc

ISLAMABAD (APP): The Sensitive Price Indicator (SPI) for the week ended on June 12, for the lowest income group up to Rs 8,000, registered an increase of 0.53 per cent as compared to the previous week. The SPI for the week under review in the above mentioned group was recorded at 202.88 points against 201.82 points registered in the previous week, according to data of Pakistan Bureau of Statistics (PBS). The weekly SPI has been computed with base 2007-2008=100, covering 17 urban centers and 53 essential items for all income groups and combined. The SPI for the combined group increased by 0.55 per cent as it went up from 211.04 points in the previous week to 212.21 points in the week under review.

As compared to the corresponding week of last year, the SPI for the combined group in the week under review witnessed increase of 8.56 percent.

As compared to the last week, the SPI for the income groups from Rs.8001-12,000, Rs.12,001-18,000, Rs.18001-35,000 and above Rs.35,000 increased by 0.50 percent, 0.52 percent, 0.55 percent and 0.59 percent respectively.

During the week under review average prices of 7 items registered decrease, while that of 22 items increase with the remaining 27 items’ prices unchanged.

The items which registered decrease in their prices during the week under review included moong plus (washed), garlic, chicken live (farm) vegetable ghee (loose), egg hen (farm) and LPG 11 kg cylinder and gur.

The items which recorded increase in their average prices included tomatoes, cigarettes, bananas, potatoes, sugar, onion, red chilies (loose), milk powder, washing soap, gergette, lawn, shirting, tea prepared cup, salt powder, long cloth, mash pulse (washed), gram pulse (washed), rice basmati broken, wheat, masoor pulse (washed), wheat flour and mustard oil.

The items with no change in their average prices during the week under review included rice irri-6, bread plain (mid size), beef, mutton, milk fresh, gurd, cooking oil (tin), vegetable ghee (tin), tea, cooked beef (plate), cooked dal (plate), sandal gents, chappal gents, sandal ladies, chappal gents, electric charges, gas charges, kerosene oil, fire wood, energy savor, match box, petrol, diesel, telephone call local and bath soap .