POF products not less than any int’l company

WAH CANTT (PR): Wah Industries arranged a seminar at POF in which prominent industrialists of the country, office-bearers of various chambers of commerce, representative of auto mobile manufacturers and senior officials of defence production organisations participated. The basic aim of this seminar was to invite to private sector for joint venture with POF. In the detailed briefing MD of Wah Industries Asif Ali Siddiqui told the participants that civil products of POF like Carbide Tips, various kind of tools gauges, molds, dies, bras billets, copper sheet, strips, rods, pipe, wire, mild steel, medium carbon steel, aluminum, brass ingots and hydrogen gas are being sold in the local market. He further added that the standard of POF products is not less than any international company. He stressed upon the participants that they should prefer POF products in their areas so that defence industry of the country could progress and foreign exchange could be saved. He further told that Wah Industries Ltd. has made investment in Wah Nobel Pvt. Ltd., Hi-Tech Plastics and Attock Chemical and future project of Wah Industries Ltd. include Wah Brass Ltd. Sanjwal Solar Project and Packages Factories. Syed Naseem Raza, Chief Executive Wah Nobel briefed the participants about the products of Wah Nobel and told that commercial explosives prepared by Wah Nobel is being utilized in mega projects of the country. Participants of seminar owed keen interest for joint venture with POF in various fields. 

PWC welcomes labour moot

LAHORE (PR): On behalf of working class of Pakistan, the South Asian Tripartite Labour Conference welcomed being held here with the collaboration of lLO and European Union which is being participated by the delegations of Sir Lanka, India, Bangladesh, Afghanistan, Nipal and Maldeeve, Republic of China and Turkey. We rightly expect that the Conference will prove a milestone to strengthen the concerted efforts of the members states and workers and employers’ organization. Trade union leader Khurshid Ahmad, General Secretary along with Ms. Rubina Jameel, President, Mr. Yousaf Baloch, Chairman PWC, Akbar All Khan and others were present at the occasion. The conference urged to the Prime Minister to bring the labour laws in conformity with lLO Conventions and get these implemented through Independent Labour inspection Machinery in conformity with lEO Convention No.81. The conference was also addressed by Justice ® Supreme Court, Tanveer Ahmad.

Habib Metro Bank posts impressive performance

LAHORE (PR): Habib Metropolitan Bank closed the first quarter of 2014 by posting a profit-before tax of Rs 1.4 billion and registering a year-on-year profitability boost of 25 per cent. Resultantly, the Bank’s EPS rose by 31.4 per cent to Rs 0.95, from Rs 0.72 in the first quarter of 2013.

The Bank’s Net Margin registered a year-on-year growth of 16.50 per cent over the year and increased to Rs 2.52 billion, while its interest-margin-to-total-income ratio climbed up to 30.4 percent from 28.40 percent in the corresponding quarter of 2013.

Habib Metro’s total assets augmented by 27.39 percent year-on-year and amounted to Rs. 396.75 billion on March 31, 2014.

HabibMetro was awarded premier PACRA credit ratings of AA+ and A1+ credit ratings for the 13th consecutive year. President & CEO of the leading trade finance bank.

 

ICI, TCF celebrates Earth Day

KARACHI (PR): In honour of Earth Day, ICI Pakistan joined hands with The Citizens Foundation (TCF) whereby the students of TCF along with colleagues from ICI Pakistan planned and successfully executed a tree plantation drive at the TCF Campus in Saeedabad, Baldia Town, Karachi. A total of 55 trees have been planted by the students and volunteers.

Earth Day is an annual event, celebrated on April 22, on which activities are held worldwide to demonstrate support for environmental protection. It was first celebrated in 1970, and is now coordinated globally by the Earth Day Network, and celebrated in more than 192 countries each year. Based on the concept of ‘Every day is Earth Day’, a number of employees from ICI Pakistan volunteered to take part in this ‘environmental teach-in’ activity.

 

Rs 1.02b Askari Bank  profit

ISLAMABAD (PR): Askari Bank has reported strong growth in all income streams. Net interest income increased by a healthy 16pc due to growth in lending ADR reaching 64pc, and an impressive 2pc decline in cost of funds. Non-interest income almost doubled compared to the corresponding quarter.

The improvement in non-performing loans appears to be attributable to recovery that is also depicted by a net reversal of provisions for the quarter, adding to the bottom line profits.