SBP issues licence to Apna Microfinance Bank

KARACHI (Staff Reporter): SBP has issued a nationwide microfinance banking licence to Apna Microfinance Bank Limited (former Network Microfinance Bank Limited-operating in the District of Karachi). It may be recalled here that Apna Microfinance Bank Limited was a district based microfinance bank (MFB) operating in Karachi with five branches. In December, 2011, SBP allowed a Group of Investors (GOI) to acquire majority shareholding of the bank. The approval for acquisition of the bank was allowed with the condition that the GOI would enhance status of the bank into a nationwide MFB. After completion of all the relevant formalities by the bank, SBP has issued a nationwide microfinance banking licence to Apna MFB to operate at national level.

PTCL unveils first 4G LTE

tablet ‘CharJi EVO Tab’

KARACHI (PR): Pakistan Telecommunication Company limited (PTCL) has once again taken the lead by introducing Pakistan’s first 4G LTE tablet ‘CharJi EVO Tab. The sleek and powerful Dual-SIM CharJi EVO Tablet offers great value for money by providing fast LTE speed upto 36 Mbps and also enables customers to enjoy voice connectivity through any GSM SIM just like a mobile phone.

Omar Khalid, Executive Vice President, Wireless Business, PTCL said, “PTCL has a legacy of pioneering cutting-edge products and services to meet the connectivity needs of the nation. Our CharJi and EVO product portfolio is opening up a new world of opportunities for customers through fast, affordable and reliable data connectivity.”

He added further that, “PTCL CharJi EVO Tab is another step to create value and enrich our customers’ daily lives.”

The new tab - available for Rs. 25,000 - empowers customers to get the most out of their multimedia experience through its 6.98 inch wide screen, 2 GB RAM and a snappy Quad Core processor.

The super-fast CharJi LTE is Pakistan’s fastest wireless broadband network available in Karachi, Lahore, Faisalabad, Multan, Islamabad and Rawalpindi, while 3G EVO is available in more than 250 cities and towns nationwide.

SECP to open facilitation

centre in Sialkot

ISLAMABAD (Staff Reporter): The Securities and Exchange Commission of Pakistan (SECP) has in principle agreed to open up facilitation Centre across Pakistan. As a first step, SECP has decided to open a facilitation center at the Sialkot Chamber of Commerce and Industry. The facilitation centre shall be launched immediately after Ramadan.

The facilitation center will provide the requisite information/assistance to the promoters of new companies as well as management of existing companies. This includes assistance in company incorporation, submission of applications / returns through eServices, e.g. change of company name, alteration in memorandum and articles of association change of company status etc.

Further, the stakeholders will be able to use the said hardware/software etc. at these centers to submit application/return/form etc. through eServices.

The SECP felt the need to set up facilitation centers/desks in different cities to ease the mandatory online filing of returns and to promote corporatization in the country. These facilitation centers will be set up with the collaboration of the respective chambers of commerce and industry.

Earlier, in collaboration with the Federal Board of Revenue, and the Employees Old-Age Benefits Institution, the SECP has established a virtual one-stop shop (VOSS) for business registration. It will reduce the turnaround time for business start-ups and facilitate investors. It will result in enhanced coordination of activities between the three authorities, i.e. the SECP, the FBR, and the EOBI by enabling mutual sharing of information through a unified web portal.

Wind to be cheapest new energy globally by 2026

ISLAMABAD (APP): Wind will be the cheapest new energy generation source in “almost” all markets by 2026, a report by Bloomberg New Energy Finance has predicted. Wind is already the cheapest new form of energy capacity in Europe, Australia and Brazil. And by 2026, it will be the “least-cost option almost universally”, the report said. However, the report suggests large-scale solar PV will become the cheapest globally by 2030. Wind project costs will reduce by 32pc by 2040 because of “steep experience curves and improved financing”. The price for solar is expected to fall 40pc. Renewable energy will double to 46pc of the world’s electricity output, “with variable technologies such as wind and solar accounting for 30pc of generation”. In 2014, this level stood at 5pc, the report added.

Significant growth in renewables will require a large amount of investment.

The report predicts: “Renewables will command just under 60pc of the 9,786 GW of new generating capacity installed over the next 25 years, and two-thirds of the $ 12.2 trillion of investment.”

Recent rains to positively

impact Kharif crops

LAHORE (APP): The current rainfall in the province would have positive impact on cultivation of minor and major crops of the Kharif season, including rice. Agriculture expert and leader of Kissan Board Pakistan Azam Suroya said current rains would be able to fulfil water requirements of all seasonal crops which was under cultivation over a vast area of the province. “It will also be beneficial for all Kharif crops, particularly rice, maize and cotton crops, which are being cultivated over a huge area and fulfil domestic requirements of the masses.” he added. He said dry and hot weather had worried farmers and the rainfall provided them comfort as rice was sown in water and farmers had to run tubewells to fulfil requirements of the fields.

“ Farmers spend million of rupee on fuel to operate tubewells to fill fields but the recent rain have saved their money and work,” he added.

He said the current spell of rain was good for rice and sugarcane. However, heavy rains may negatively affect cotton crop, therefore, growers and agriculture extension department in the country need to take precautionary measures to protect the cotton fields for better production of cotton.

Chairman Pakistan Agri-Forum Ibrahim Mughal said the recent rains would be beneficial for rice and sugarcane crops but heavy rainfall may have negative affect on cotton production.