Govt to complete all fixed milestones to achieve universal connectivity: Anusha

ISLAMABAD (NNI): Minister of State for IT and Telecom Anusha Rehman has said that the government is committed to complete all its milestones to achieve universal connectivity envisaged to connect the un-connected by 2018. She stated this while chairing 47th Board of Directors Meeting of USF Co at Islamabad on Thursday. Federal Secretary IT Rizwan Bashir, Chairman PTA Syed Ismail Shah, Member Telecom Mudassar Hussain, CEO Mobilink Aamir Ibrahim, CEO USF co Faisal Sattar and other board members also participated in the meeting. The board reviewed the progress and development on the key projects of ICT services in un-served and under-served areas being carried out by USF Co in far flung and remote areas all across the country, with a particular focus on coverage in Baluchistan and FATA regions. CEO USF Co briefed the board on "Broadband for Sustainable Project" through a detailed presentation.

 He apprised the board that company has formally signed an agreement with Ufone for Khuzdar and Chaghi lots. Moreover, Kohistan, Kharan, Washuk and Kohlu lots are also ready to be rolled out within next few days. He also apprised the board that USF Co has completed 50% milestones in Zhob/Sibi, Shangla areas so far and within next 6 months we are anticipating this ratio to reach at 75%.

 

 

 

Pak-Bahrain business opportunities conference to promote trade ties 

BAHRAIN (INP): Ambassador of Pakistan to Bahrain Javed Malik has stressed the need of closer and more regular interaction of the business leaders from Pakistan and Bahrain, terming it vital for the growth of the economic ties between both countries. Ambassador Javed Malik, on the sidelines of the first Pakistan Bahrain Business Opportunities Conference, organized a special dinner meeting which was attended by prominent business leaders of both countries including members of the Royal Family. President of Federation of Chambers of Commerce, Abdul Rauf Alam, and Chairman Bahrain Chamber of Commerce & Industry Khalid Al Moayyed were special guests of honor.  Ambassador Javed Malik welcomed the two business leaders and said that embassy of Pakistan in Bahrain has organized the first Pakistan Bahrain Business Opportunities Conference to pave the way for emergence of closer business to business linkages and that the business community would be expected to drive forward this initiative forward. 

Both President FPCCI, Abdul Rauf Alam and chairman BCCI, Khalid Al Moayyed appreciated the valuable work being done by Ambassador Javed Malik to strengthen and expand relations between both countries, and said that the revised MOU between both chambers of commerce was a tangible outcome of the Pakistan Bahrain Business Opportunities Conference and this would facilitate the regular delegation exchanges and closer cooperation between businessmen from both sides. 

 

 

 

CCP launches series of guidelines on competition law

ISLAMABAD (Staff Reporter): The Competition Commission of Pakistan (CCP) has initiated a comprehensive plan to revamp its existing guidelines on substantive and procedural aspects of the competition law in Pakistan and the working of the Commission. During the process, CCP will also add new guidelines particularly ones regarding the interpretation and application of provisions relating to prohibition of anti-competitive behavior. The aim of drafting and publishing these guidelines is to explain competition law in simple terms for the benefit of the stakeholders especially the businesses and the general public. In this regard, CCP has published the 'Guidelines on Section 3: Abuse of Dominance' as a first in a series of similar publications that will follow soon. In the guidelines, commentary on various aspects of abuse of dominance is supplemented with easy-to-understand examples and illustrations. It is expected that the guidelines will greatly help stakeholders in understanding and complying with the law.

 While these guidelines have currently been published in English and Urdu, the translation into regional languages is underway and will be completed soon. The guidelines can be accessed via the website www.cc.gov.pk. CCP will publish its Guidelines on Voluntary Compliance as a next step which would assist the businesses in voluntarily adopting measures that minimize the risk of violating competition law and ensuring that business practices are in compliance with competition principles.

This initiative is being undertaken as part of CCP's advocacy mandate provided under Section 29 of the Competition Act, 2010 which entails an active role of the Commission in creating competition awareness in the country.

 

 

 

SECP organises awareness seminar

for ACCA members

ISLAMABAD (Staff Reporter): Under its Jamapunji campaign, the Securities and Exchange Commission of Pakistan organised an investor education and awareness seminar for ACCA members in Islamabad. The event was organised in collaboration with the ACCA Pakistan Islamabad Office and a sizeable number of members enthusiastically participated in the event. The program started with the recitation of Holy Quran followed by opening comments from Afrasiab Ahsan, Senior Business Development Manager. He highlighted the role of future accountants who needed to ensure high level of controls and develop a framework which ensures sustainable growth. He said it is exciting to see that SECP is reaching out to a larger audience to improve the regulatory environment.  In the session a substantial discussion on the significance of savings and personal financial planning for the members. The members were briefed about the significance and impact of savings from an early stage and its benefits in the long run through small but regular investments.

The discussion focused on Capital Markets and Mutual Funds and their functions as potential investment avenues.

A significant part of the session also focused on the investor education web portal jamapunji. Members were briefed about its different features particularly the stock trading simulator which is an effective tool for experiencing the real trading practices.

The ACCA members actively participated in the discussion and shared their views about the subject matter. ACCA members enriched the conversation with input relevant to prevalent trading practices and conducive investment opportunities. The ACCA members appreciated SECP's efforts in fulfilling its social responsibility in the area of investor education and awareness. SECP and said they also share a common vision of advancing public interest and advocate corporatization and business formalization as a driver of economic growth.