Halal food export can be doubled: Saifi

LAHOARE (PR): LCCI Convener on Halal Food and CEO Anees Associate Naseeb Ahmad Saifi has said that Halal Food is multi-billion dollar industry of the world but Pakistan’s share in international market is negligible which can be at least double by taking short term measures.

He expressed these views while talking to media men here on Friday.  He said that government should not only exempt Halal Food industry from gas and electricity loadshedding but also give permission to set up electricity generation plants at their own premises. He claimed that if stakeholders could get this permission, they could be able to double their export within short span of time, he added.

He said that it is Almighty Allah blessings that animals like goat, sheep and buffalos of the country have unique taste and aroma which is matchless in the world. That was why, the demand of our Halal food is increasing manifold. It is the need of the hour that government should take appropriate measures and give incentives to Halal Food industry. He claimed, it is guaranteed that this industry would fetch millions of dollar extra within a short span of time, he added.



LSE holds annual business research conference

Lahore (PR): With the changing dynamics of the business environment, managers are increasingly faced with the ever evolving challenges standing against the effective management of businesses. Pakistan is no exception.

 To delve further into the matter, Lahore School of Economics hosted its Second Annual Business Research Conference in collaboration with CFA Society Pakistan, The Institute of Chartered Accountants of Pakistan, JCR-VIS, PACRA and MAP. The theme of the Conference was “Managing Business in Pakistan-Challenges and Opportunities”.

The Conference was attended by some of the most renowned financial analysts and experts on the field spurring an interesting discussion that highlighted potential issues regarding the management of business in Pakistan.

The Conference was inaugurated by Dr Shahid Amjad Chaudhry, Rector, Lahore School of Economics. Dr. Amjad Waheed delivered the key note address with a special focus on the investment alternatives in Pakistan based on the historical performance and future outlook.

The first session of the Conference was geared towards gaining insights on the Capital markets, Investment Opportunities and Valuation practices in Pakistan. This session was chaired by Mr. Akif Saeed, Executive Director, Securities and Exchange Commission of Pakistan.

The second session of the Conference focused attention on the Financial Institutions, Instruments and Relevance of Credit Rating for a Vibrant Financial System. This session was chaired by Mr. Javed Masud, Board Member, Pakistan Petroleum Limited. The session was taken forward by Shahzad Saleem, CFA, Chief Operating Officer PACRA. Mr. Saleem emphasized the reliability of the rating agencies and the probability of them going wrong. He made a special mention to the 2007 crisis whereby the inability of the rating agencies resulted in magnifying certain risks.

The last session of the Conference highlighted the key issue of Corporate Governance, Financial Reporting and Taxation Practices. This session was chaired by Mr. Naeem A Sheikh, FCA President ICAP. Naeem has been serving in the Council for the last 4 years and was the Vice President North in 2012-13.He was also a member of the Northern Regional Committee twice from 1993 to 2001.This session was opened by Jaffar Hussain, FCA, whose presentation focused on financial reporting and modern business. Mr. Hussain focused on the importance of effective financial reporting for both the managers and the external parties.




Weekly inflation goes up



The Sensitive Price Indicator (SPI) for the week ended on May 29, for the lowest income group up to Rs 8,000, registered increase of 0.64 per cent as compared to the previous week.

The SPI for the week under review in the above mentioned group was recorded at 201.76 points against 200.47 points registered in the previous week, according to data of Pakistan Bureau of Statistics (PBS).

The weekly SPI has been computed with base 2007-2008=100, covering 17 urban centers and 53 essential items for all income groups and combined. The SPI for the combined group increased by 0.65 per cent as it went up from 209.60 points in the previous week to 210.96 points in the week under review. As compared to the corresponding week of last year, the SPI for the combined group in the week under review witnessed increase of 9.27 percent. As compared to the last week, the SPI for the income groups from Rs.8001-12,000, Rs.12,001-18,000, Rs.18001-35,000 and above Rs.35,000 increased by 0.66 percent, 0.67 percent, 0.67 percent and 0.63 percent respectively. During the week under review average prices of 7 items registered decrease, while that of 19 items increase with the remaining 27 items’ prices unchanged.

The items which registered decrease in their prices during the week under review included tea (packet), egg hen(farm), garlic, wheat flour (bag), chicken live (farm), LPG (11 KG Cylender), vegetable ghee (loose).

The items which recorded increase in their average prices included tomatoes, bananas, red chilies (loose), long cloth, lawn, mash pulse (washed), onions, curd, potatoes, milk (fresh), gur, moong pulse (washed), gram pulse (washed), sugar, mutton, wheat, rice (irri-6) and beef.

The items with no change in their average prices during the week under review included rice basmati (broken), bread (Plain), milk (powdered), mustard oil, cooking oil, vegetable ghee (tin), salt (powdered), cooked beef, cooked dal, tea (prepared), cigarettes, shirting, sandal (gents), chappal, sandal (ladies), electric charges, gas charges, kerosene oil, firewood, energy savor, washing soap, match box, petrol, diesel, telephone local call and bath soap.