KE improves power distribution network


KARACHI (APP): The K-Electric continues to streamline and further enhance its power distribution network by installing Aerial Bundled Cables (ABC) under its flagship Community Development Project Ujala in various communities. A spokesman said on Saturday that the utility has so far transformed different communities through the installation of ABC, new transformers and low-cost connections. He was of the view that KE has successfully converted more than 104 loss-incurring PMTs on Aerial Bundled Cables (ABC) last week, taking the total tally to more than 800 PMTs and positively impacting the lives of more than 160,000 people. K-Electric also conducted a massive Kunda-removal drive in Korangi where almost 3,700 KG of illegal wires and kundas (1,800 Connections) were pulled down and confiscated. This was the first time ever a Kunda drive confiscated illegal wires and cables of this scale. Many Communities in Lines Area, Liaquatabad, Ghazdarabad, Rehmat Chowk, Altaf Town and Keamari, which were previously infested with illegal connections and fault ratio was quite high, are now power theft-free with a minimal fault ratio.


Spokesperson KE maintained that this flagship project is helping K-Electric impact the lives of residents positively, by providing them with a more stable, reliable supply of electricity.

`We engage with the community through medical and health camps, such as the one that was recently held in Machar Colony where almost 300 people were treated for a free medical check-up at the camp. KE also highlights the disadvantages of using illegal cables for theft to these residents and provides them a one-stop shop where they can avail new and subsidized connections on the spot’.

K-Electric launched its flagship community development project `Ujala’ earlier this year, with an estimated investment of PKR 5 billion to empower the lives of over 1 million people residing in 200 communities across its network. The utility has pledged to help improve the reliability of power of these communities while boosting socioeconomic activities through sustainable development initiatives.



UBL Funds Most Customer-Centric Asset Manager in Pakistan

ISLAMABAD (NNI): UBL Fund Managers Limited (UBL Funds) has been recognized by an award for The Most Customer-Centric Asset Manager in Pakistan by The European in its prestigious Global Banking & Finance Awards 2016. The European’s recognizes organizations that stand out from the crowd and are, consequently setting benchmarks for the global financial industry. Good governance, innovation, know-how, and quality of service are all major considerations for this recognition. Commenting on this achievement, Yasir Qadri, CEO of UBL Funds, stated, “Building a world class asset management company starts with a willingness to create value for our clients by developing and delivering innovative and sophisticated investment solutions. The need to innovate and keep up with changing trends is perpetual and, at UBL Funds, we continue to provide our valued investors with new products created on the basis of their needs coupled with best-in-class services that surpass their expectations, thus delivering them a better investment experience.”

UBL Funds introduced Pakistan’s first-of-its-kind mobile application for online management of funds by investors – called the UBL Funds Smart Savings App –in an effort to ensure unmatched services and allow for easy transacting on-the-go.

The company has a view to continuously search for ways to deliver convenience by stay a step ahead of their competitors through exploitation of technology. With an in-house initiative that they call Investments 2.0, UBL Funds aims, in the near future, to create new markets using technological innovation which will focus on Micro-Investments to make mutual fund investments possible for all income segments of the society and an Alternate Banking Solution to attract banking customers by making investment accounts equally manageable and as convenient as normal checking accounts.

These services would include more online investment options, instant redemption features, third party and utility payment services, and a more dynamic, customized ATM card.  With this strategy, today, UBL Funds stands as one of Pakistan’s most technologically advanced organization providing the best financial services possible for its customers.

Umber T Ansari, Head of Marketing & Distribution for UBL Funds, commented on the achievement by saying, “UBL Funds provides a wide portfolio of investment products, but remains primarily focused on awareness for the general public so that they may plan their futures by investing their funds wisely.”

“We hold regular conferences and seminars for the purpose of increasing awareness and, as a company, we are also making the effort of having communication available in all different languages of Pakistan so that we may penetrate the masses,” she said.

“Additionally, we make educational videos on the benefits of saving and investing where we aren’t focusing on UBL Funds, but rather on the actual message of the importance of a savings culture. We have a genuine passion for informing people that there are options to help build a more fruitful financial future,” she added.


Broadband facilities to be provided in remote parts of Balochistan

ISLAMABAD (APP): Ministry of Information Technology and Telecommunications (MoIT) would provide modern broadband facilities to population of about 196,177 individuals in some 269 unserved Mauzas and an un-served area of 39,434 sq kms in Balochistan. These areas would be facilitated under broadband for sustainable development. Universal Service Fund (USF), a subsidiary of MoIT has accorded approval to Rs 2.3 billion Awaran-Lasbela broadband project which covers 12.8 percent of the area and 6.5 percent of the total estimated population of Balochistan. Official sources on Saturday said USF in a recently held meeting with Minister of State for IT & Telecom, Anusha Rahman took an overview of existing projects of USF pertaining to establishment of 50 more Computer Labs in Women Empowerment Centers, Bait-Ul-Maal (PBM) under Information and Communication Technologies (ICTs) for Girls Programme and Broadband for low income women in phase-2.

This Lot shares borders with Karachi and Dadu Districts in East, Khuzdar and Washuk in North, Panjgoor and Kech in West and Gwadar District in South.

The sources said that USF has set a target to reach all under-served and un-served areas of the country with rural telephone and e-Services (RTeS) by 2018.

Despite massive growth in telecom, vast areas of the country are still un-served. On the other hand, telecom is one of the most important tools for rapid development, especially in rural areas.

All licensed telcos contribute at a rate of 1.5 percent of their revenue towards the USF to reach such areas.

The USF Board of Directors has also approved Rs. 13 billion for financial year 2016-2017 to ensure coverage of telecom and internet facilities in far-flung areas.

Four new projects at an estimated cost of Rs. 3 billion are going to be started in 2016-17 to extend IT and telephone services to far-flung areas while further Rs 9.52 billion will be spent on ongoing projects in un-served areas of four provinces.

New lines at a cost of Rs 2.43 billion will be laid in Balochistan, Kharaan, Washuk, Dera Bugti, Kohistan and Waziristan in current financial year. An amount of Rs 11.94 million has been earmarked for provision of telephone services in rural areas during 2016-17.

The USF plans to establish 500 Tele-centers, of which 30 are already established to serve as a one stop for telecommunication services.

The USF has provided telecommunication facility to 310 under-served towns and provided 5500 km of fiber optics so far. In addition, USF has established 50 computer labs for women empowerment centers.


Fish exports increase 14pc in four months


ISLAMABAD (APP): The exports of fish and fish preparations from the country witnessed increase of 13.87 percent during the first four months of the current fiscal year, compared to the corresponding period of last year. The exports of fish and fish preparations from the country were witnessed at $114.787 million in July-October (2016-17), compared to the exports of $100.809 million during July-October (2015-16), according to the latest data of Pakistan Bureau of Statistics (PBS). In terms of quantity, the fish trade increased by 22.93 percent by growing from the exports of 37,443 metric tons last year to 45,188 metric tons during the current fiscal year.  Meanwhile, on year-on-year basis, the exports of fish and fish preparations from the country witnessed increase of 4.34 percent in October 2016 when compared to the exports of October 2015.  The seafood exports during October 2016 were recorded at $50.727 million compared to the exports of $35.683 million.

On month-on-month basis, the fish exports increased by 47.25 percent in October 2016 when compared to the exports of $34.456 million in September 2015.

In terms of quantity, the seafood exports from the country increased by 70.71 percent and 40.33 percent during October 2016 when compared to October 2015 and September 2016 respectively, according to the data.

It is pertinent to mention here that the overall food exports from the country witnessed decrease of 11.43 percent during first four months of the ongoing fiscal year.

The food exports from the country were recorded at $980.668 million compared to the exports of 1107.226 million, the data revealed.

The overall merchandise exports from the country were recorded at $6.432 billion during the first four months of the current fiscal year compared to $6.865 billion during the corresponding period of last year, showing a decrease of 6.31 percent.

The imports into the country during the period witnessed increase of 8.51 percent by going up from $14.504 last year to $15.738 this year.

Based on the figures, the trade deficit during the period increased 21.82 percent by going up from the deficit of $7.639 billion last year to $9.306 billion this year.