SECP holds financial awareness seminar

 

ISLAMABAD (Staff  Reporter): The Securities and Exchange Commission of Pakistan, under its initiative of educating the current and potential investors, organised a seminar for the trainees and employees of AF Ferguson and Company at the ICAP House in Karachi. Khalida Habib, director/head, Investor Education and International Relations Department, read out the message of the SECP chairman, stating: “Our mission” is to make a paradigm shift in Pakistani society from its current consumption mode to adopting saving and investment as a culture and norm. This is only possible when the individual takes charge of his/her money matters to make informed investment decisions and key to this is to embed investor education at all levels in our learning experiences.” Ms Habib reiterated the SECP’s commitment to implementing an agenda of improving the financial capabilities of investors and protecting them. She said that the support of industry in the SECP’s investor education program will indeed go a long way towards developing financial literacy among the people.

 

 and also stressed on how fundamental the notion stands in the practical world of investment to sustain soundly. Ashraf Bava, president, CFA Society Pakistan, gave a comprehensive presentation on financial planning, briefing the audience on the necessary steps and considerations to formulate and execute their financial plans efficiently and effectively.

Nadeem Naqvi, managing director, Pakistan Stock Exchange Limited, shared his valuable ideas and perspectives. He talked about the importance and macro plus micro structure of our capital markets. He elaborated on different important concepts and procedures about the capital markets and carried on with an interactive session with the audience. Ms Mashmooma Majeed, CEO, Mutual Fund Association of Pakistan, presented the concept of mutual funds and all the basics that an investor needs to know of. She conversed with the listeners effectively to clarify their queries and attended to them elaborating of their possible venues in terms of investing in mutual funds and the procedures thereof.

Sidney Custodio Pereira, additional registrar, Company Registration Office, Karachi, elaborated on the procedures encompassing company incorporation. He enlightened the audience with the forms of an enterprise and the advantages and steps for incorporating a Company by sharing his literary and practical-market excerpts. Dr Bakht Jamal, head of Window Takaful Operations IGI Life Insurance Limited, shed light on the fundamentals of insurance and elaborated on its avenues. The presentation was sound in composition elaborating the types, benefits and associated procedures for approaching insurance by the common investors.

Syed Shabbar Zaidi, Senior Partner A.F. Ferguson and Co., thanked the SECP for taking such an important initiative, calling it as an investment in the future. He termed the series of presentations as a fruitful avenue in achieving the goals for spreading investor education. He encouraged the young trainees to make the most out of such avenues for making informed investment decisions.

 

 

 

 

Completion of under-construction projects imperative: Wapda chief

LAHORE (Staff  Reporter): WAPDA Chairman Lt Gen (r) Muzammil Hussain has said that completion of the under-construction projects in the shortest possible time is a must to rid the country of electricity shortages and stabilise the national economy.  During visit to the 969 MW-Neelum Jhelum Hydropower Project being constructed by WAPDA in Azad Jammu and Kashmir (AJ&K), he said concerted efforts were required on part of the project management to implement the hydropower projects including Neelum Jhelum. The chairman viewed construction activities on weir site located in Nauseri – 41 kilometers east of Muzaffarabad. He witnessed the work being done on main dam, composite dam, desander, sedimentation basin and debris channel. Later, he reached power house site at Chattar Kalas located some 22 kilometers south of Muzaffarabad. He visited underground power house, surge shaft and transformers hall and reviewed electro-mechanical works for installation of power generating units and the transformers.

He also had a round of the project’s switchyard. Speaking on the occasion, WAPDA Chairman appreciated the pace and quality of construction work, adding that both are essentially required for completion of the project.

It is worth mentioning that construction work is being done simultaneously on the three sites of Neelum Jhelum Hydropower Project. It has four generating units with generation capacity of 242.25 MW each, totalling to 969 MW.

 

 

 

Romania invites Pak furniture industry

 

RAWALPINDI(Staff  Reporter): Romania has a suitable environment for investors and Pakistan should set up furniture industry there for boosting trade between the two countries.  Acting Ambassador of Romania in Pakistan Rene Mihai Seicaru said this during his visit to furniture market on invitation of Furniture Association at Khanna here on Friday. Tight security arrangements were made by police to guard the ambassador. Addressing the traders, Rene said Romania is a peaceful country having a large numbers of opportunities for businessmen.  He has invited the Pakistani furniture industry to set up its businesses in Romania and assured that the government would extend necessary cooperation. He highly praised the quality and designs of Pakistani furniture. He said that Pakistani furniture due to its unique style is very famous and said his country is willing to promote the furniture industry with the cooperation of Pakistan. He said this would create opportunities for investment in the two countries.

President of Association Khawaja Wasim Mir thanked the Ambassador for the visit. General Secretary Faisal Butt said by visiting the furniture market in the contested area of Rawalpindi is a proof that Pakistanis a peaceful country.He assured to intensify efforts for promotion of furniture industry in Romania so help increase bilateral trade.

 

 

 

Germany major trade partner of Pakistan with $2.4b investment

LAHORE (Staff Reporter): Germany is the major trade partner of Pakistan among the EU countries with investment of around $2.4 billion. Pakistan intended to strengthen trade relations with Germany and appreciates its all-out efforts for ensuring access for exporters to the European Union (EU) and German markets. These views were expressed by Punjab finance minister Dr Ayesah Ghaus Pasha during the inaugural ceremony of Punjab chapter of German Pakistan chambers of Commerce and Industry (GPCCI) in Lahore on Friday. She said that the GSP Plus has given great boost to Pakistan’s business with European countries in almost all sectors of the economy including leather and sports goods. The minister expressed the optimism that there would be investments in Pakistan by different companies of Germany as they had shown a keen interest, especially in the energy sector.