SBP approves grants for agri finance innovations

KARACHI (Staff Reporter): The State Bank of Pakistan on Friday announced the results of Financial Innovation Challenge Fund (FICF) Round 2 on Promoting Innovative Rural & Agricultural Finance in Pakistan under the UK’s Department for International Development (DFID) funded Financial Inclusion Programme. The FICF was launched by Finance Minister Ishaq Dar on March 06, 2014, as a strategic intervention for adopting innovations for development of agricultural finance in the country. Governor SBP Ashraf Mahmood Wathra had also addressed the event which was attended by British High Commissioner Philip Barton among others.

The FICF Advisory Committee, which is chaired by Deputy Governor Saeed Ahmad draws its representation from SBP officials, Waqas ul Hasan from DFID Pakistan and private sector including Shamim Ahmad Khan, Ex-Chairman SECP, and Mahmood Nawaz Shah, a progressive farmer.

Call to develop effective policy on alternative health care products

lahore (Staff Reporter): LCCI on Friday urged the government to develop policy on alternative health care products in line with the international practices and keeping in view the requirement of the sector.  This was stated by LCCI President Engineer Sohail Lashari while addressing the representatives of Homoeopathic Doctor Pharmaceutical and Chemist Association of Pakistan (HPCA) led by its President Amanullah Bismil. Chairperson of LCCI Committee on alternative health products Shamim Akhtar also spoke on the occasion.He said that regulations should be made and implemented with a purpose of developing this sector, not to derail the sector and ultimately effecting country economy.

Nespak MD nominated for award

Lahore (Staff Reporter):  The National Engineering Services of Pakistan (Pvt) Limited has been recognised as the best enterprise in quality and management spheres while Amjad A Khan, its Managing Director, has been nominated for the prestigious award of the best manager of the year by the Europe Business Assembly. MD has been invited to receive this top honour at the Traditional Socrates Award Ceremony in the framework of Business Leaders Summit on July 2, 2014, at Stresa, Italy. The awards are being presented in recognition of its excellent business reputation, effective management and constant growth.

The company was chosen when ranked against the following criteria: investment attraction, high technologies, quality and staff for professional and modern management methods. The research was conducted by the analytical centres of the Europe Business Assembly (EBA, Oxford, UK).

Philippines envoy visits KCCI

Karachi (Staff Reporter):Ambassador of the Philippines, Domingo d. Lucenario, JR has said that Pakistan-Philippines Joint Economic Interactive Session will be organised after the holy month of Ramadan in Islamabad which will provide an opportunity to exchange ideas on how to further enhance trade relations between the two countries.  Speaking at a meeting during his visit to Karachi Chamber of Commerce and Industry (KCCI), the Filipino Ambassador said that his government also plans to host a Pakistani business delegation’s visit to Manila and other cities in Philippines in the month of September 2014 with a view to promote business-to-business interactions.

 In this regard, he invited KCCI members to become part of this delegation’s visit to Philippines.

“Pakistan and Philippines have been enjoying cordial relations since past 65 years and both countries continue to support each other. Although good diplomatic and friendly relations exist between the two countries but efforts must be made to make these relations stronger”, he added.

He said that Pakistan was the sixth largest country in terms of population, which makes it a big market whereas Philippines with a population 100 million also offers immense opportunities to Pakistani businessmen and industrialists.

Underscoring the need to liberalise visa policy, the Ambassador informed that the Philippines was reviewing its visa policy which will further be liberalised by June 2014 in order to facilitate the business community of Pakistan.

Earlier, President KCCI Abdullah Zaki said that Pakistan and Philippines share cordial bilateral relations and efforts have been made to further strengthen the existing relations between the two countries.

Sindh resources being explored

Karachi (Staff Reporter):The energy resources in Sindh are abundant and rapidly being explored to overcome the energy crisis, said Senator Taj Haider, Advisor to CM Sindh. He was speaking at 7th PowerGen Energy Forum 2014 organised by Energy update at local hotel in Karachi.  Sindh Engro Coal Mining Company is the 100 percent owned by local investors including private partners and provincial government which restored the confidence of foreign investors gradually who are keen to invest to set up their coal-based power plants, he added.  He said that Jhimphir Wind Energy Farm has potential to generate 1900 MW electricity whereas 163 MW have been added to the national grid with three companies are operational.

On the other hand, he added, Zulfiqarabad allocated energy corridor could generate 50,000 MW additional electricity showing its immense scope.

There are 17 companies interested to set up their power plant of 50 MW in Zulfiqarbad depicting promising future of province in achieving self-sufficiency in power generation on various frontiers, Senator added.

Speaking at the occasion Dr Ansar Pervaz, Chairman Pakistan Atomic Energy Commission (PAEC) said that proposed nuclear power projects are safe, efficient and vital energy resources for the country as these planned projects like K2/K3 could produce most affordable electricity to masses of country.

Dispelling the misconception about nuclear power plants and its security hazards, he said the proposed power plants are being developed at the safest place without any issue of ground fault.

Dr Attur Rahman, former federal minister, said local companies and private sector should come forward to innovate and invent technology for long-term valuable impacts.

Ejaz Ahmed Khan MD Thar Coal Energy Board, Engr. Irfan Ahmad, Technical Advisor, Energy Sector, Siemens Pakistan, Syed Tanveer Hassan, Plant Manager, FFC Energy Ltd, Naeem Qureshi, Managing Editor, Energy Update, Kalim Siddiqui, former MD, PSO & Zahid Hussain, former CEO, OGDCL also spoke on the occasion.