ICCI explores private sector’s role in aviation industry

ISLAMABAD (INP): A delegation of ICCI, led by its President Atif Ikram Sheikh, visited Pakistan Aeronautical Complex (PAC), Kamra the other day to explore the role of private sector in the promotion of indigenous aviation industry. PAC Board Chairman Air Marshal Arshad Malik briefed the delegation about the role of PAC in strengthening Pakistan’s armed forces by meeting its aviation needs. He said that Pakistan had registered tremendous progress in indigenous production of aircrafts, and had great potential to export defence products. He encouraged the private sector to explore the possibilities of collaboration in aviation industry. A comprehensive and informative presentation on the activities of PAC was given to the delegation, in which those areas of the aviation sector were identified where public-private partnership was possible. The delegation went round various units of Pakistan Aeronautical Complex to find out the possibilities of private sector collaboration with PAC in various manufacturing activities.

Speaking on the occasion, Atif Ikram Sheikh, President, Islamabad Chamber of Commerce and Industry thanked the PAC Chairman and his team for giving warm welcome and extending great hospitality to him and other members of his delegation.

He said that PAC chairman’s tone was very encouraging, and expressed optimism that continuous interaction between the two organisations would be instrumental in carving out a way forward for the private sector in the indigenous aviation industry.


NAVTTC for technical, vocational training institutes’ upgradation

ISLAMABAD (APP): Executive Director National Vocational and Technical Training Commission, Zulfiqar Ahmad Cheema has said that under the Prime Minister’s Youth Skill Development Programme, training is being imparted to the youth of Balochistan, FATA and the far flung areas on priority basis. Currently, 2000 students are being technically trained in various vocations in which 1195 male trainees and 805 female trainees are included, said a press release here Saturday. Zulfiqar Cheema, in a directive, instructed the heads of institutes to upgrade their labs and workshops to increase the quality and standard of training so that there are better chances for the students to secure jobs. He asked them to hold healthy skill competitions among the trainees which will increase their interest in the courses. He further said that sports and other healthy activities may be arranged for the trainees to boost their morale.

He said that such activities will not only polish their personalities but also enhance their managerial qualities and help them become a useful citizen of the country.

To examine the quality of training and status of facilities being provided to the trainees has visited various institutes of Quetta.

While talking to the trainees at Pearl Institute of Quetta, he said that upon completion of the courses, they will be provided with respectable jobs which will enable them to not only support their families but also become a useful asset of the nation.

He encouraged the students to focus on their training and assured them that NAVTTC will grant interest free loans to them in case they would want to start their own business. He further added that NAVTTC will facilitate them in securing jobs at local and international market through the job placement center. The heads of more than 30 technical and vocational institutes of the region were present on this occasion.


‘Strategy evolved to ensure effective use of irrigation water’

MULTAN (APP): The government has evolved a strategy to check the wastage of water from canals and tributaries. Regional Project Director High Efficiency Irrigation System (HEIS) Mansha Ali said while talking to Assistant Director Agriculture Information Naveed Asmat Kohloon here. He said that Punjab was getting 56 million acre feet water from dams, rivers and 33 million from tube-wells for irrigation. There was need to ensure effective use of irrigation water, he said and added the Punjab government had launched special programme with cooperation of World Bank for proper utilization of irrigation water. Under the project, canals and water tributaries are being brick lined. The farmers are being offered laser land leveller, drip and sprinkler system. He said the agriculture department was also busy in creating awareness among peasants about the use of latest technologies in this regard. Farmers can promote agriculture produce and improve their living standard by adopting the latest technologies, he added.

 Meanwhile, Shujabad canal division has sent PC-1 of Rs 246 million to the Punjab government for approval of concrete lining in three non-perennial canals. The department had selected three canals, including Sikandarabad with estimated of cost Rs 136 million, Shah Pur minor with Rs 60 million and Shah Din canal with Rs 50 million.


Dollar falls on weak Q2 GDP data

NEW YORK (AFP): The dollar fell sharply against the euro and a basket of currencies late Friday following the release of quarterly US GDP figures that were well under expectations. The US Commerce Department had announced earlier in the day that GDP had risen by an anemic 1.2 percent in the second quarter. Analysts had expected results closer to 2.6 percent. Towards 2100 GMT, the euro stood at $1.1177 versus $1.1076 the day before after hitting $1.1197 at 1500 GMT, a level not seen in a month. The dollar also fell against the yen, trading at 102.07 yen, down from 105.32 the day before. The Bank of Japan concluded its policy meeting on Friday, leaving interest rates untouched but increasing its purchases of exchange-traded funds. The British pound likewise gained against the dollar, buying $1.3223, up from $1.3166. "The greenback is down as soft US data supported the case for an ongoing delay to resumption in Fed tightening, while today's Bank of Japan policy easing also underwhelmed," Nick Bennenbroek, head of currency strategy at Wells Fargo, wrote in a research note.

"Over the longer term we expect the Fed will eventually resume its rate hike cycle, and anticipate gains in the US dollar against most G10 and emerging currencies."