FPCCI President-led 65-member delegation leaves for India

ISLAMABAD (INP): Federation of Pakistan Chambers of Commerce and Industry (FPCCI) President Zubair Ahmed Malik along with a 65-member delegation on Wednesday left for India to participate in the SAARC Business Conclave, a meeting of south Asian business leaders. The delegation comprised of leader of the Businessmen Panel Tariq Sayeed, VP SAARC Chamber Iftikhar Ali Malik, President elect FPCCI Zakria Usman and others.  The largest-ever delegation from any south-Asian country would participate in the fifth South Asia business leaders conclave starting Jan 16 in New Delhi.

Besides, trade and commerce ministers from all the Saarc countries including Pakistani Commerce Minister Khurram Dastagir Khan would also participate in the event while Indian commerce minister would hold the inauguration.

Khurram Dastagir is scheduled to visit New Delhi to attend the SAARC Business Conclave and hold meeting with his Indian counterpart on the side-lines of the conclave.

Business leaders and representatives of different governments would hold meetings to reduce tensions, enhance political and economic cooperation among the Saarc countries.

Zubair Ahmed Malik said that the business community could bring about revolutionary changes and further foster the pace of regional integration in South Asia.

Many important policies that are supposed to boost trade are forwarded to concerned quarters but implementation take a long time which result in wastage of the effort, he added.

The FPCCI chief hoped that important decisions would be taken during the conclave.


Punjab Industrial Estates to retire over Rs1b loan

Lahore (Staff Reporter): The Punjab Industrial Estates Development and Management Company has entered into an agreement with Punjab Govt to retire a loan of Rs.1035 million given to it as seed money to kick start the company’s operations in 2004. PIEDMC, has achieved the milestone to retire a govt loan is benchmark of good governance by repaying its financial obligations, stated the Chairman PIEDMC S.M.Tanveer. A spokesman of PIEDMC informed that the Punjab Industrial Estates Development and Management Company was established by the govt of Punjab in 2003 with a model of Public-Private Partnership.

Development of Sundar Industrial Estate was assigned as an initial project to PIEDMC in 2004. Presently, SIE has achieved 70% of its colonization and providing employment opportunities to approximately 30,000 skilled labour, according to PIEDMC spokesman.


CNG stations across Sindh closed for 24 hours

KARACHI (INP): The gas supply to filling stations of Compressed Natural Gas (CNG) across Sindh including Karachi was suspended at 8 am on Wednesday and  would be restored at 8am on Thursday. Long queues of all sorts of vehicles were seen waiting before the 24-hour suspension of gas supply to the CNG filling stations in the province. According to spokesperson of Sui Southern Gas Company (SSGC), the gas supply to the CNG stations has been suspended as per the gas load management schedule. He warned that gas supply would be suspended for another 24 hours to those CNG stations that would violate the schedule.


GC Faisalabad students visit LSE

Lahore (Staff Reporter): A General Visit by the students of GC University Faisalabad Second group has been organized by the corporate communications Department Lahore Stock Exchange where LSE’s officials interacted with the students. Managing Director and Chief Executive officer of the Lahore Stock Exchange Mr. Aftab Ahmed Chaudhry was the chief guest. At the event Corporate Communications Department-LSE gave a detailed presentation covering all spheres of capital and financial markets. The students were briefly informed about the regulatory framework, market indicators, investment products, financial services & opportunities accessible to investors in Pakistan.

While addressing to the students, Mr. Barkat Ali Anjum Head of Media and Public Relations Department requested the students to adopt saving behavior in their life style in order to become the Chief Financial Officer of their own life. At the end of the sessions a detailed question answer session was also conducted by him. The students also visited various brokerage houses where they were given synopsis on the functioning of these institutions such as live market trading


Mobile penetration reaches 1.7pc

ISLAMABAD (APP): Mobile phone penetration, a highly effective tool to gauge growth in telecom market, has reached 71.7pc by June 2013 with growth rate of 4.61pc. The rate of penetration slowed down during fiscal year 2012-13 owing to various factors but mainly due to strict govt policy for sale of  SIMs only through customer service centres and franchises of the operators. A report by PTA revealed that the other important factor could be movement of market towards maturity. The subscribers of cellular mobile in Pakistan attained the level of 128.93m at the end of June 2013 compared to 120.15m as of end June 2012, revealing a growth of 6.74% as compared to growth of 10.3% during the corresponding period of last year.

The report said one of the major reasons for this slower growth could be associated to restrictions on sale of SIMs from retail outlets and fewer number of sale points.

With regard to addition of new subscribers, it said during 2012-13, the cellular mobile operators due to their aggressive marketing, attractive packages and special offers were able to capture 8.8 million new subscribers in the subscription base.

This was approximately 2.44 million lesser subscription as compared to the corresponding period in last fiscal year.

The lower net addition in subscribers has been witnessed owing to maintaining market as well as additional requirements by the regulator for SIM registration and other controls for prohibiting the illegal sale.

The report said among the five cellular mobile operators in the country, the youngest cellular operator, China Mobile Pakistan (CMpak) has taken the lead in attracting new subscribers by adding 4.2 million during the reported period.

Another operator, Telenor also added a respectable number of 3.5 million subscribers followed by Mobilink and Ufone with 1.1 and 0.67 million net additions respectively.

Warid, however, dropped 793,482 subscribers during the last fiscal year due to subscriber churn and tough competition in the market.