Minister to inaugurate RCPC tomorrow


LAHORE  (Staff Reporter): Federal Industries and Production Minister Ghulam Murtaza Khan Jatoi is going to inaugurate Red Chilies Processing Center (RCPC) established by the Small and Medium Enterprises Development Authority (SMEDA) under Public Sector Development Programme on October 25, 2016 (Tuesday). The inaugural ceremony would also be addressed by SMEDA CEO Sher Ayub, whereas the senior government officials, growers, traders and exporters of red chilies would attend the ceremony. SMEDA sources, while explaining the need of setting up RCPC in Kunri, have told that the red chilies are harvested in the moon soon season which becomes the cause of prolonged moisture on the fruit, consequently contaminating the produce with Bacteria. Hence the sector had a long standing demand for having mechanical dehydration and secured storage facility at door step of the cultivation area. SMEDA officials claimed that the technology installed at RCPC would prove to be an ultimate solution to the problems to be faced by the red chilies growers and traders.

Moreover, the improved quality of the product would make it sellable also in the export market thus increasing the profits of growers, traders and exporters to optimal level.



RCCI urges youth to join hands for

nation building

RAWALPINDI (APP): The Rawalpindi Chamber of Commerce and Industry (RCCI) President Raja Amer Iqbal has urged youth to come forward and join hands in uplifting national economy. He said that the youth of the country have the potential to make Pakistan more progressive, prosperous and developed country. He said that it is need of the hour to strengthen industry-academia linkage to endorse business activities and the chamber is playing its due role in this regard. He was addressing a seminar titled Indigenous Entrepreneurship Conference being organised by Youth Association of Pakistan (YAP). The RCCI president said that the chamber’s mission is to flourish the talent of the students and provide them employment opportunities according to their capabilities. He said youth comprises 60 percent of total population. “Unemployment has been increased remarkably, currently it is increasing roughly 7.8 percent ratio which is concerning.

We need to engage our youth and government should invest on them,” he said. He expressed that Jobs can’t be a solution here, adding that E-commerce, Information Technology and Services are the key areas where youth can take benefit of opportunities. He said that skilled youth can help Pakistan to meet its goals linked with Mega projects like China Pakistan Economic Corridor (CPEC). He said that RCCI will provide maximum support and cooperation for youth in seeking guidance, information and other related to start-ups, entrepreneurship and business incubation centers.

He informed that RCCI has taken an initiative last year and organised global entrepreneurship week as a step to facilitate youth, develop stronger private sector, assist the innovators and support the idea of entrepreneurship as a career opportunity.






PRGMEA to launch training institute

at cost of Rs125m

SIALKOT (APP): Pakistan Readymade Garments Manufacturers and Exporters Association (PRGMEA) Central Chairman Ijaz A Khokhar on Sunday said that necessary arrangements were being finalised for setting up state-of-the-art Pakistan Readymade Technical Training Institute at a cost of over Rs125 million. Talking to media persons, he said that the institute would be established on a suitable place and development work on the project would soon be started adding the institute would be affiliated with an institute of Japan. The basic concept of setting the training institute was to produce trained workforce in the field of stitching, pattern designing, quality control, inspection and sewing machine mechanics male and female, separately, he added. The PRGMEA chairman said that efforts were also being made for sending delegations to Eastern Europe and Central Asian countries for conducting study of markets as well as assessing the demands of Pakistani products and possibilities of holding single country exhibitions.

"Our Research and Development (R &D) is very weak due to the high cost of utility and allied factors therefore government should announce special R&D support fund for innovation of new product and up-gradation of workplaces and if the government announces special package of concessions, export can be enhanced to $7 billion", he added.






Swiss unblock $140m after Italy tax

fraud acquittals

GENEVA (AFP): Switzerland's attorney general's office said Sunday it had unblocked accounts holding some $140 million, which were frozen more than a decade ago to assist Italy in a tax fraud probe of the Mediaset broadcaster. A decision by Milan's top appeals court earlier this month to overturn 18-month prison sentences handed to Mediaset chairman Fedele Confalonieri and its chief Pier Silvio Berlusconi led to the unblocking, Andre Marty, spokesman for the office of the attorney general (OAG), told AFP in an email. Pier is the son of Italy's legendary former prime minister and Mediaset founder Silvio Berlusconi. "The legal assistance procedure which began on May 24, 2002 has been concluded," said Marty. In March, a lower appeals court hit the executives with jail terms for tax fraud linked to broadcasting rights, but the higher court ruled this had not been proven. The case revolves around prices for film distribution rights bought by Mediaset that were allegedly artificially inflated in order to pay lower taxes.


, with the proceeds used to create slush funds in foreign bank accounts.

Swiss judicial authorities froze the accounts in 2005, the ATS news agency reported. "On the basis of the recent acquittals in Italy, OAG released the funds blocked by law last Friday, September 21," Marty said.

Once the banks in question go through the procedure to unblock the accounts "the account-holders will have the possibility to access the funds, amounting to approximately $140 million (129 million euros)," he said.