LCCI greets Iftikhar on re-election as Saarc Chamber VP

LAHORE (Staff Reporter): The Lahore Chamber of Commerce and Industry has congratulated Iftikhar Ali Malik for his 5th-time re-election as Vice President SAARC Chamber of Commerce & Industry and hoped that he would continue to use his best abilities for the promotion of trade & industry in the country. LCCI President Sheikh Muhammad Arshad, Senior Vice President Almas Hyder and Vice President Nasir Saeed said that reelection of Iftikhar Ali Malik for 5th consecutive term is a proof of his untiring efforts for the business and industry. They said that measures taken by him as vice president SAARC Chamber for the promotion of regional trade speaks volume of his business acumen.

The LCCI office-bearers said that efforts of Iftikhar Ali Malik would go a long way in bringing the SAARC countries closer and enhancing trade among all the member states. The LCCI office-bearers said that regional economic integration cannot be achieved without comprehensively addressing the politically instigated issues and infrastructural problems, both at country and regional level.

Performance of BoI enhanced by 14pc: Govt

ISLAMABAD (Online): The performance of BOI has increased by 14%, from 39% to 53% in the last two years, indicating that confidence of investors in the board has improved. According to a press release, issued by PM House here on Friday, the performance of 15 Regulatory bodies including BOI were evaluated by Overseas Investors Chamber of Commerce & Industry (OICCI) through a survey taking into account their relevance, importance and support to functioning of businesses in Pakistan. The management of BOI has expressed satisfaction on this positive trend and reiterated their resolve to be more proactive and facilitative for both local and foreign investors with an objective to improve and promote investor friendly climate in the country.

Smeda delegation visits Pak embassy in Tokyo

TOKYO (NNI): A delegation of SMEDA, in Japan on a JICA funded technical assistance project, visited the Pakistani embassy. Haroon Ahmad Khan, GM, SMEDA, who was leading the delegation, explained about the Energy Conservation Project being implemented by JICA Experts in Pakistan and their current training activities in Japan. Expressing satisfaction over their training process, the officer said that the training was quite beneficial and a vital experience for them, what they have learnt would be applied in the factories selected for this project in Pakistan, says a press release received here today from Tokyo. Ambassador Farukh Amil welcomed the delegation for visiting the Embassy.

He also expressed deep appreciation for JICA and the Government of Japan for the training programme.

He also underlined the need for more cooperation in the field of manufacturing and exchange of missions. In order to have an institutional linkage between the SMEs sector of Pakistan and Japan the Ambassador proposed that a formal mechanism should be considered between SMEDA and its counterpart organization in Japan MOBIO, leading to an MoU.

He said that such linkages would help the exchange of business missions and information sharing, leading to the strengthening of SMEs in Pakistan. Officials and consultants from JICA were also present on this occasion.

Readymade garments export up by 3.85pc in first half

ISLAMABAD (APP): The exports of readymade garments from the country during first half of current financial year (2015-16) registered an increase of 3.85pc as compared to the corresponding period of last year. During the period from July-Dec, 2015, readymade garments worth $1.006b were exported as compared the exports of $1.004b of same period of last year. During the period under review, about 15,027 thousand dozen of readymade garments were exported as compared to 15,094 thousand dozen exported during same period of last financial year. Meanwhile, towel exports from the country also registered an increase of 4.56pc as they went up from $380.823m in July-Dec (2014-15) to $396.196m in first half of 2015-16.

Pakistan Business Council hosts session for Chinese delegation

ISLAMABAD (NNI): Pakistan Business Council hosted a session for the delegate of 100 Chinese investors on Friday. The session included B2B interactions with premier Karachi based businesses; the Chinese delegation was briefed about the investment opportunities and potential in various sectors of the country. Ambassador Sha Zukhang, Head of the Chinese Delegation - who was also the chief guest of the session-briefed the attendees about the initiative and interest of Chinese businessmen in supporting the economy of Pakistan. He also admired the efforts made towards China-Pakistan Economic Corridor (CPEC) through dedication of various stakeholders in both countries.

A brief presentation to the Chinese delegates and audience was made by local stakeholders including Ejaz Ali Khan The Additional Chief Secretary for Planning and Development in Sindh, Wasif Abbas the Secretary for Energy, Director General Sindh Board of Investment (SBI) Iftikhar Ali Shallwani , the Secretary for Commerce, Industries and Investment and Private sector representatives on the Thar Coal Project. The presentations summarized the investment opportunities and potential of the local market for the delegation.

Bashir Ali Muhammad Chairman of the Pakistan Business Council, while addressing the delegation said “The alliance between China and Pakistan has always been one of our strengths. This relationship covers many different areas, including industry, economics, energy, trade and investment, to name a few. I hope we continue to not only maintain this relationship, but to enhance it further through initiatives like this event”.

He further added “It is not just about building road and railway networks or energy projects but also about a myriad of business and social activities that will create employment opportunities and lead to a higher level of growth in the country’s GDP. It will have a positive impact, not just on Pakistan-China trade but will also encompass Central Asia”.

The China-Pak Economic Corridor (CPEC) MoU, which was signed in July 2013, is the more recent development in the economic relationship between the two countries. It is expected to be a watershed in the trade and investment relations facilitating the prospective trade and investment opportunities arising from this game-changing project that have generated a lot of interest among the Chinese and Pakistani businesses.

As a consequence of these developments, China-Pakistan Friendship Association (CPFA) has planned to bring a 100- member delegation of prominent Chinese businesspersons representing the private sector, entrepreneurs and investors. This is in order for them to explore trade and investment opportunities in Energy, infrastructure, Textiles, Agriculture, Engineering, Telecommunications and Mining sectors of the economy.

Around 100 eminent Pakistani businesspersons were invited to this event by Ministry of Commerce and Pakistan Business Council.