Indus Motor, TDCP sign MoU

Lahore (Staff Reporter): Indus Motor Company has signed an MoU with the Tourism Development Corporation of Punjab (TDCP), under which it will sponsor the 11th Cholistan Jeep Rally - a mega motor sports event. The signing ceremony of the MoU took place in Lahore and was attended by top officials of IMC and TDCP. The 11th Cholistan Jeep Rally will be a 3-day mega off-road adventure sports event which will be held from February 12 to 14, 2016 in the Cholistan desert. It is the greatest and toughest rally in Pakistan, comprising great challenges along-with extreme competition. The history of the event has been written deep in the heart of the stunning Cholistan desert. Besides racing and speed, it also requires off-road navigational skills and a sturdy level of consistency.

In line with the sporting spirit of ‘Waku Doki’, which means heightened anticipation and excited heart thumping, IMC has always been a forerunner in promoting thrilling motor sports. Expressing his views about the Cholistan Jeep Rally, Mr. Ali Asghar Jamali, COO Indus Motor said that motor sports is gaining popularity among the car enthusiast in Pakistan. Such events showcase history and rich culture to outer world and promote tourism. He also said that this competition will help in gauging the driving skills of car enthusiasts and the performance & durability of their vehicles in extreme conditions.

The three day Jeep Rally will be divided into sections such as Vehicle Inspection on Day 1, Qualifying Round, Hilux Cup and Stock Main Race on Day 2 and Pro-Category Main Race on Day-3.

CCP holds seminar at

Multan Chamber

ISLAMABAD (Staff Reporter): The CCP held a seminar at the BCCI that also marked the conclusion of the National Road Show on Competition Law. The participants of these seminars included businessmen ranging from the small and medium enterprises to large and small corporate firms, national companies and multinational corporations. The competition issues highlighted at the seminars have been noted down by CCP for further action where applicable. The seminar at Multan Chamber was attended by Khwaja M Yousaf, former President MCCI. In his welcome address, Khwaja Muhammad Yousaf said the economy needs a competitive business environment.

that ensures investors’ confidence and conducive conditions for innovation and growth. He termed the role of CCP crucial for protecting consumers’ rights and a competitive economy while urging the businessmen to increase their knowledge of the Competition Law. He assured MCCI’s support to CCP in creating awareness of the law and improving its compliance.

UBL Fund Managers signs

agreement with Samba Bank

Lahore (Staff Reporter): UBL Fund Managers Limited (UBL Funds) and Samba Bank Limited have entered into an Agreement enabling a distribution alliance of UBL Funds’ products through Samba Bank Limited. The signing ceremony was held at Samba Bank’s Head Office Karachi in the presence of Mr. Shahid Sattar, President & CEO Samba Bank Limited, and Mr. Mir Muhammad Ali, CEO UBL Funds. UBL Fund Managers Limited is one of the leading asset management companies in Pakistan, offering savings and investment solutions to institutional and individual clients. Samba Bank Limited is a majority-owned subsidiary of Samba Financial Group of Saudi Arabia.

Speaking at the occasion, Mir Muhammad Ali, CEO – UBL Funds, said “This strategic business alliance will benefit both entities. The diversified portfolio of mutual funds will not only improve our market share, but also help us grow the asset management industry in Pakistan. The venture is equally beneficial for Samba Bank as they can now offer a variety of Islamic and conventional mutual funds for their customers”

Mr. Shahid Sattar, President & CEO Samba Bank, said “The agreement will allow us to facilitate our valued customers. Currently, we are working to expand our products and services across the consumer, corporate, investment banking and global markets. And, by partnering with one of Pakistan’s leading asset management companies, we will be able to provide our customers short-term and long-term investment opportunities”.

The business venture will benefit both parties in terms of revenue and cross-selling of products whereby Samba bank will be using their resources and marketing channels for the promotion and distribution of UBL Funds’ products.

Feasibility report of 10 MW

project completed in Skardu

ISLAMABAD (APP): Water and Power Department Gilgit-Baltistan has completed the feasibility report of 10 megawatt hydro power project in Skardu. According to feasibility report, the estimated cost of the project was over two billion rupees, reported Radio Pakistan. Prime Minister Nawaz Sharif had also announced initiation of expansion and construction of a high quality road from Skardu to Gilgit, at a cost of Rs 50 billion. Skardu-Gilgit road would eventually connect to the Expressway in Havelian; this road linkage would serve the most function of bringing the people of Pakistan closer. Earlier, Prime Minister had also announced that an amount of Rs 27 billion would be spent on completion of Lowari Tunnel in Chitral by next year.

Federal government would be spending an amount of Rs 50 billion for various communication projects in Chitral and other areas.

Organic certificates distributed among Kinno exporters

SARGODHA (APP): The Sargodha Chamber of Commerce and Industry organized a Global Gap and Organic Certificates distribution ceremony among Kinno exporters. The ISO certificates were also distributed among leading manufacturers in a ceremony organized here at the Chamber of Commerce building where chief guests were international agriculture expert Finq Faqio and deputy manager China quality certificate center and director CQC Pakistan Khalid Mehmood. Global gap certificates were distributed among the Prime fruits industry and Pak Kinno industries. Faqio hailed the role of the Sargodha Chamber of Commerce for quality production and manufacturing.

added that ISO certification will smooth the way for business among Pakistan and Chinese companies especially Kinno exports.

A large number of Chamber members and Kinno exporters also participated in the ceremony.