PNSC, Faysal Bank sign deal

KARACHI (Staff Reporter): Pakistan National Shipping Corporation has swapped its loan of Rs 3.3 billion with another loan on soft terms; with a repayment period of four years on low mark-up and as a consequence PNSC has saved tens of millions of rupees. A signing ceremony was held in the PNSC Building, which was attended by the Federal Minister Ports and Shipping, Senator Kamran Michael, Chairman PNSC, Arif Elahi, Ms. Tayyaba Rasheed, Head of Investment Banking Faysal Bank; General Manager - Finance, PNSC, Jarrar Haider Kazmi and others. The agreement was signed by Bilal Asghar, Head of Corporate Investment Banking on behalf of Faysal Bank and Imtiaz C. Agboatwala Executive Director - Finance; signed on behalf of Pakistan National Shipping Corporation.

On this occasion Chairman Arif Elahi informed that this has enabled PNSC to repay the outstanding loan and replace with a loan on softer terms, saving substantial financial cost.

Time for industrial infrastructure design to grow up

Lahore (Staff Reporter): It’s Time for Industrial Infrastructure Design to Grow Up. It was stated by Mr. Shah Faisal Afridi, President Pak-China Joint Chamber of Commerce and Industry in a meeting with Chinese businessmen to consider joint ventures possibilities with their Pakistani counterparts in the fields of industrial infrastructure. The Chinese delegation led by Mr. Tian Jizhong, CEO, Bei Dong Sanxing New Technology Co. Ltd, China was accompanied by his colleagues Mr. She Hongke, Mr. Li Zongyou and Mr. Qu TenFi on this occasion. Mr. Shah Faisal Afridi said that Traditional industrial infrastructure design can’t deliver what it takes to create hi tech innovative products. Besides new skills, we need new fixtures as well.

He appreciated Mr. Tian Jizhong for realizing the need and bringing proposals of Joint ventures in this area.

Faisal Afridi said that several industries with poor and low quality plumbing and gutter work often suffer from mold growth, leaking roof or deterioration of the structure on the long term that costs a lot to the manufacturing process of the final product.

Faisal Afridi said that utilization of quality industrial infrastructure items would add to the competitive advantage. It would save time, money and cost of production, added Afridi.

Leader of the Chinese Delegation Mr. Tian Jizhong, exchanging his views with President PCJCCI told that he had brought his team to Pakistan for gauging the possibility of business Joint Ventures in Industrial Infrastructure needs including Pipes, nuts, bolts, Machinery spare parts, Water pumps, Water filter, racks and railings, Antennae and Receivers, UPS & Batteries etc. He termed these items as “all time industrial needs” and said that difference lies in quality and efficiency of items used in different industrial setups.

He said that these are small requirements of every industrial setup but has a great impact on productivity and output. He further said that all industrial efficiency relies on the effectiveness of these small industrial accessories.

“Our goal is to manufacture such products that are reliable, efficient and eco friendly and we use materials and chemicals and technology that focus on the reduction, avoidance and adaptation of carbon emissions, he added.

Mr. Tian Jizhong and Mr. Shah Faisal Afridi agreed for bringing Eco-friendly Industrial infrastructure technology from China through joint ventures with Pakistani entrepreneurs to maintain the manufacturing flow in Pakistan.

GE provides software services solution for industrial plants

Lahore (Staff Reporter): General Electric Power is providing transformative software service solutions for industrial plants in the energy sector through its partnerships with RasGas in Qatar and Engro, Sapphire and Saif in Pakistan. The industrial internet solutions by GE are powered by Predix, the world’s first and only cloud-based operating system built exclusively for industrial assets, that bring unprecedented levels of productivity, efficiency and asset optimization. Azeez Mohammed, President & CEO, Power Services - Middle East, North Africa, Sub-Sahara Africa, GE Power, said that GE’s Industrial Internet is a game changer for the energy sector, enabling our partners in the region to optimize their assets for greater reliability.

, efficiency and productivity.

This in turn helps to meet the growing demand for power. GE’s solutions bring higher power output at lower cost through improved efficiency across the energy spectrum – from power generation to power distribution to power users. The focus on predictive maintenance to avoid problems before they happen and the ability to drive performance improvement support our partners in achieving higher returns and long-term value for their assets.

PGBC to hold three-day

exhibition from 27th

LAHORE (Staff Reporter): Pakistan Green Building Council (PGBC) is organizing an International Expo & Conference in the provincial metropolis from November 27 to November 29, 2015 to introduce, promote and advocate sustainable concepts and practices to transform the way building and communities are designed, build and operate. This was disclosed by the Chief Executive Officer (CEO) PGBC Aqrab Ali Rana while speaking at a meeting of the Board of Directors of the Council held here on Thursday. The meeting was convened to review the preparations for this mega event which is being attended by different sectors of the industry, architects, builders, constructors, representatives of HVAC&R sector.

The meeting was chaired by Mr. Naveed Chaudhry, Nisar Mohyudin, Abu Zafar Mahmud and other senior members of the Board.

Aqrab Ali Rana informed the media after the meeting that this mega event will have four technical sessions besides opening and concluding events.

FBR policy-making flayed

LAHORE (Staff Reporter): Federal Board of Revenue should immediately stop negative tactics like property seal and seizing of accounts of taxpayers to meet its revenue targets. Such acts of FBR are hampering business atmosphere in the country. These views were expressed by the former Secretary of Lahore Tax Bar (LTB) and presidential candidate Amir Qadeer while addressing a gathering of the members of Lahore Tax Bar Association, tax experts and economists here on Thursday. Former president of Pakistan Tax Bar Association Zulfiqar Khan, former Senior Vice  President Muhammad Saeed Chaudhry, former president of Lahore Tax Bar Muhammad Sadiq Chaudhry, Qari Habib-ur-Rehman Zuberi, Muhammad Ajmal Khan, Ali Ahsan Rana and Shakeel Basra also spoke on the occasion.

Amir Qadeer said that Federal Board of Revenue is evolving policy without due consultation with the stakeholders. He said that policies cannot be fruitful without taking stakeholders on board.