CPEC to boost insurance sector growth: PBIF

 

ISLAMABAD (INP): Pakistan Businessmen and Intellectuals Forum (PBIF) President Zahid Hussain has said that insurance sector is all set to grow as the economy is picking up. Insurance companies should prepare to handle the opportunities and challenges arising out of game-changing project of China-Pakistan Economic Corridor (CPEC), he added. Hussain said that insurance business has a promising future as massive foreign funds under CPEC have started to flow. Insurance penetration is around 0.2 percent of total population and the size of the insurance industry is below one percent of the GDP because only rich and middle-class is targeted while the micro-insurance sector is conveniently ignored, he added. The government should establish a separate regulator for the micro-insurance sector and provide incentives to the private sector so that it can step in the segment as the poor that cannot afford proper insurance policies can be covered against risks.

 

Three-day food expo kicks off

 

KARACHI (APP): Rice Exporters Association of Pakistan (REAP) Patron-in-Chief Abdul Rahim Janoo and Hungary Ambassador Istvan SZABO inaugurated the 11th Food Technology Asia International Exhibition at Karachi Expo Centre. The exhibition incorporates rice technology, plastic packaging & print and agriculture sector technologies, said a statement issued here on Monday. It is for the first time that a specialised exhibition is being organised which shall increase Pakistan's Food sector technological development. It will turn better quality of food products and ultimately facilitate the export of rice and other food products to the world. The other sectors being focused are of plastic and packaging along with agricultural equipments for enhanced technological advancements in each sector ultimately helping in adding value to the Pakistani products for export market as well as for local consumption. There are 200 international and domestic exhibitors, 250 international brands that are showcasing their products and services.

Over 150 foreign delegates are also gracing the event from more than 20 countries including China, Hungary, Italy, Sri Lanka, Switzerland, UAE, Turkey, UK, Singapore, Malaysia, Belgium, Taiwan, Korea etc.

 

‘Punjab’s infrastructure attracting foreign investors’

ISLAMABAD (APP): Federation of Pakistan Chamber of Commerce and Industry (FPCCI) Vice President Ishtiaq Baig has said the foreign investors were moving towards Punjab due to better infrastructure and facilities available in the province. Talking to PTV, he said Chief Minister Shahbaz Sharif had made sincere efforts and provided better infrastructure to attract foreign investors. He said there was need to focus on other cities so that the investors could avail the opportunities to invest in various sectors. To a question, he said the Central Asian States would benefit from the China Pakistan Economic Corridor (CPEC). He said Pakistan had successfully conducted the Economic Cooperation Organisation summit and sent a positive message to the world. He said the ECO countries were also looking towards Pakistan to avail benefit of the CPEC. To another question, he said there must be a strong will to address the issues in Karachi so that investors could come to invest in this area.

 

HCCI demands representation of Hyderabad, Kotri, Tando Adam businessmen in SITE

HYDERABAD (APP): The Hyderabad Chamber of Commerce and Industry (HCCI) Vice President has demanded the high ups of Sindh government to give due representation to business community of Hyderabad, Kotri and Tando Adam in Sindh Industrial Trading Estate (SITE) for development of industrial sector. In a statement, he regretted that the management of SITE has adopted step-motherly attitude with the business community of Hyderabad, Kotri and Tando Adam despite the fact that the community of these cities are contributing sizeable share in respect of revenue generation. He said that because of non-availability of filter plant and water treatment plant, the industries of Hyderabad SITE are at the verge of destruction while the other hand, the industrialists are being harassed by sealing the industrial units by EPA on charge of violation of environmental laws. The closure of industrial units in Hyderabad SITE is also causing unemployment, he added.