profitepaper pakistantoday 09th april, 2012
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profit.com.pk Monday, 09 April, 2012
KARACHI
STAFF REPORT
t he businessmen of Sindh
specially Karachi led by Karachi
Chamber of Commerce &
Industry (KCCI) have
approached Prime Minister
Yousuf Raza Gilani against the forth
coming energy conference while
showing their serious concerns about
the conference and its apparent
objectives.
Showing deep reservations and concerns
regarding the energy Conference which
has been scheduled to be held in Lahore
on April 9, 2012, KCCI, in letter sent
recently, has informed the Prime
Minister that firstly, this was being held
at a very short notice and the business
community of Sindh has not been taken
into confidence nor invited to participate
in the prior and preparatory
deliberations of the conference. Also the
objectives and some Agenda
components unfortunately carry
negative connotation. “We are
apprehensive that this debate being
undertaken in the background of
Government of Punjab sponsored
“energy riots” in Punjab may add fuel to
the fire and may accentuate the on-
going attrition amongst a range of
stakeholders especially amongst the
federating units. This, at this point in
time, will not augur well for the political
and economic well being of the country”,
it said. According to the letter the main
objectives of the conference especially
the objective at “b” states, “Develop
consensus on fair, equitable and
transparent distribution of available
energy among the federating units” This
objective denotes that the current
distribution is probably inequitable and
not transparent whereas in reality the
distribution of energy is being
undertaken in accordance with the
Constitution of Pakistan. hence putting
out such an objective in itself
tantamount to questioning the basic
parameters and framework enshrined
under the Constitution of Pakistan.
It is extremely important to put across
some fundamental facts before the
honourable Prime Minister relating to
current energy crisis
The existing electricity shortages to a
large extent have accentuated because
of shortage of ‘Gas’ as such it is
important to explore how these
shortages have happened.
The country is presently producing
approximately 4000 MMCFD of Gas from
all Gas Fields compared to 3800 MMCFD
in 2008. hence there has been a definite
growth in supply of Gas. What has
caused the shortages is basically the
manner in which it has been used in last
few years.
SNGPL in last four years has laid out
around 36000 km of additional Gas
Pipelines for supply of about 750 MMCFD
of Gas to multiple entities especially the
rural villages, CNG stations and also to
some big consumers.
The Federal Ministry of P&NR and SNGPL
were aware that there are likely to be
Gas constraints as such the Supply Side
should have been more responsible and
undertaken after due diligence and
examination of pros and cons. To us, this
frugal and irresponsible “Supply of Gas”
by the SNGPL is one of the root causes
that has led to severe Gas shortages in
last over a year which in turn has
impacted the power supply as well.
Gas companies are allocated fixed
Quotas. It is SNGPL, who in 2008
started allocating new Gas connections
exceeding their allocated limits. In the
same period SSGCL entertained only
150 MMCFD additional Gas connections
in a very conservative and cautious
manner. It is important to mention that
as of today SSGC has a backlog of
applications for more than 350 MMCFD,
which in turn can generate 150,000 new
direct employments and numerous
indirect jobs. In case SSGC and
Government of Sindh had not taken a
cautious stance and additional
connections would have been given to
generate more employment then the
situation in Sindh could have been the
same which prevails today with SNGPL.
hence in all fairnss Sindh has sacrificed
its progress at the cost of ‘National
Interest’. It is also a fact that Sindh
Government has developed Industrial
estates which are not yet colonized due
to paucity of Gas. There are 1000 plots
in SITe-II, & huge number of Plots in
Port Qasim, and many in Textile and
Garment City awaiting Gas connections.
Critical question is “Can Sindh be
penalized for being circumspect and
informed and adopting policy of
connections keepiong in view the supply
side?” In case Government of Pakistan
does not acknowledge the rational
attitude the tendency for irrational
decisions will take root.
Sindh provides 72 percent of Gas and it
has a Constitutional Right under Article
158 of the Constitution over its use. This
is explicitly provided and it will be very
unethical to challenge this provision
relating to the right of the province
where such resources lie.
Despite this clear provision under the
basic charter, the distribution of Gas
over the years has always been
undertaken ‘fairly’ and in the overall
interest of the country.
hence despite, the Article 158, Karachi
faced severe shortages of Gas in last
winter and there was continuous load
shedding from November-2011 to March-
2012 which impacted Industry and KeSC.
Agenda Item I: Generation
Distribution and Conservation
- In the Agenda relating to Group I,
there is an item ‘f’ saying ‘Is there a
case for continued supply to privatized
KeSC from NTDC system when load
shedding in Karach is 2-3 hours but in
rest of country is 12-16 hrs”. This is an
unfortunate Agenda and it reflects upon
the mind set and the basic agenda of
the conference organizers.
The facts are that KeSC is an
Independent Private Company and it is
being given 650 MWs of electricity from
the Country’s hydel Resources so that it
receives same ‘energy Mix’ as being
distributed to other entities. This again
is a constitutional matter and by
questioning this, the draftees of the
Agenda probably wish to deny the
economic & financial hub of the country
the same ‘energy Mix’ as available to
other cities. The less hours of load
shedding is an outcome of ‘electricity
Management’ by KeSC as it allocates
energy to its ‘paying clients’. This
efficiency is sheerly on account of
“KeSC Management” rather than on
account of taking away any other
federating units share. hence by
incorporating such unconstitutional
items, the entire framework of this
conference and its objectives have
become seriously tainted and malafide.
In our view, this conference is unlikely
to yield any worthwhile results and will
only breed further difference especially
given the current political climate in the
province of Punjab.
In this background, it is sincerely
recommended that instead of reopening
and questioning issues settled under the
Constitution of Pakistan, the
Government should concentrate on
“Resolving’ the major bottlenecks and
move ahead and take strategic decisions
required to bring more energy on the
grid and by taking the required reform
and governance actions for containing
losses, and leakages.
Some energy ‘doables’ in the short
to medium run can be:
- Undertake urgent exploitation of
“Indegenous Resources’ which can
quickly relieve the pressure on the
expensive imports of oil and the fast
depleting Gas reserves.
GoP is presently importing 6 million tons
of coal. KeSC & PePCO have already
finalized projects for converting their
Power Plants from Gas/Oil to Coal. This
will increase the imports of coal to over
22.0 million tons within next one year or
so. GoP can save oil and coal imports by
facilitating the Government of Sindh in
undertaking speedier actions at Thar
Coal Mining.
GoS needs to be encouraged to undertake
Minning through its Own Resources for
establishing a ‘Washing & Bricketing
Plant’. Such facility alone can provide a
massive saving of Gas which can be
diverted to Industry. Cheap supply of fuel
to Power Plants will help in bringing down
electricity prices considerably.
Provinces must be encouraged to make
investments in Re projects especially
Wind, Small hydro, Solid Waste and
Sea-waves/Tidal energy projects. WB /
ADB may be requested to help provinces
to build capacity on Re projects.
Policy be framed on “OFF GRID”
solutions for villages and separte
settlements like one under taken at
Surian Cantonment RYK urgently so that
valuable Gas resources / electricity is
conserved for profitable and economic
requirements of the country.
Transportation can only be subsidized by
revitalizing Pak Railways and bringing in
LRT in mega cities, rather than allow
precious Gas resources use in CNG.
Things will become better during
summer and Insha Allah after
commissioning of new Gas Fields
including Kudan Poshaki, Sanjhero,
Sawan, Latif, Reti Maroon, which will
add approximately 350 MMCFD of
additional gas to national bulk.
There is complete consensus that it is
primarily on account of lopsided
priorities, poor management and
massive leakages and lack of
accountability which are the primary
reasons for dearth of energy in Pakistan.
There is an urgent need to put in place
an Action Plan rather than politicize and
create further attrition. A collective
national effort is needed to face the
challenge. Prompt measures need to be
taken by the government instead of
opening up contentious debate.
The recent oil price drama –
steep rise, angry protest,
marginal correction – was
amusing, to say the least. Ditto for
the fortnightly check. The simple fact
of the market is that oil will remain
elevated for at least the foreseeable
future. And considering our
overwhelming reliance on imported
energy, domestic prices will also keep
rising. So if last week’s antics were
anything to go by, the run-up to the
general vote will be anything but
smooth, something the PPP setup no
doubt realises well.
Interestingly, the strong bid in
international oil is being factored in
despite no justifying demand-supply
dynamics. europe is wrecked by the
sovereign debt crisis, China is
slowing, Indian manufacturing is
hemorrhaging, emerging market
growth is fizzling out and even
encouraging numbers from the US
are proving shady at best. Left to
market mechanism, oil would be no
higher than the $80 per barrel, if
not lower.
The $30 odd excess is a testament to
the risk premium associated with
political tension in the Persian Gulf,
particularly the Iran’s standoff with
western powers. It is a glaring
example of how countries that
depend too much on imported fuel
lose out because of developments
they have practically no control over.
Of course, the problem is
compounded when the current
account situation is cause for serious
concern (because of rampant
corruption involving but not limited to
some of the highest offices in the
government).
how the government postures will
prove the litmus test for its sense of
commitment with the people.
Prudence dictates that it immediately
draw viable options, ranging from
ensuring sustained supplies – it will
help to settle futures contracts while
the market is still in backwardation –
to reducing long term reliance on
imported oil. The latter will need
exploiting indigenous hydel, gas and
coal reserves – a long drawn exercise,
but it must start somewhere. For the
immediate term, though, there is little
relief. Oil will continue to rattle both
our brains and our pockets.
COMMENt
Oil troubles
ENERGY CONFERENCE
KCCI wakes upand smells thecoffee... and a ratg KCCI not consulted over National Energy Conferenceg Approaches PM over matter g Sindh businessmensceptical about the conference
Govt clutching at straws over wheat production Page 02
PRO 09-04-2012_Layout 1 4/9/2012 12:16 AM Page 1
news02Monday, 09 April, 2012
ISLAMABAD
ONLINE
The governmentestimates wheatproduction amountingto 24.02 million tons
this year fairly sufficingcountry’s annual requirementof noting less than 24 milliontons, an official told Online onSaturday.however, he informed thatthere was no risk of shortage ofthe commodity in the countryas the sufficient stock of carryforward available collectivelywith the provincial and federalgovernment. The officialunderlined the fact; netproduction is fell down slightlyagainst its target of 25 milliontons due to certain factors andthe major reasons are shortageof fertilisers and water scarcity. When in this regard contactedFederal Secretary Shafaqthussain Naghmi,he told Onlinethat this year entire wheatproduction of the country is yetto be estimated, however, inPunjab wheat production was
estimated around 18 milliontons and waiting for otherprovinces assessments. “Wheat harvesting is going tostart from mid April in Sindhand in the end of this month orin the beginning of next monthin Punjab,” the federal secretarysaid, adding that this yearwheat requirement is expectedto remain about 24 million tonsin the country. While talking toOnline Muhammad IbrahimMughal, Chairman of AgriForum Pakistan said that wheatproduction target was set 25million tons for this year butthe output could be around 23to 23.5 million tons. he said the country had 4million tons of carry forwardstocks and demanded thatgovernment should allow 1.5million tons wheat export toIran from fresh stock underbarter trade system and inreturn Petroleum productsshould be imported. “This yearPunjab should procure 3million tons wheat fromfarmers while PakistanAgriculture Storage and
Supplies Corporation (PASSCO)and Sindh 2 and 1.5 milliontons respectively,” he added.According to the uSDepartment of Agriculturereport, Pakistan’s wheatproduction for the year 2012-13is estimated at 23 million tonswhich shows down five per centrelative to previous year’srecord harvest of 24.2 milliontons. The economic CoordinationCommittee (eCC) of theCabinet has already approvedthe purchase of 7,700,000 tonsof wheat from farmers. The eCC on Friday was of theconsensus that the provinceshave the inalienable right to liftthe wheat but the debate wenton the extension of credit cashguarantees to the provinces onthe amount of purchasingwheat after the increase in thesupport price of wheat fromRs.950 to 1050.It may be recalled that after thedue process of devolution theprovinces were allowed to liftthe wheat to maintain strategicreserves.
LAHORE
STAFF REPORT
PuNjAB Irrigation andDrainage Authority (PIDA)has decided to amend the
rules for farmers organizationsand area water boards and sendthese to the provincialgovernment for approval.These farmers’ organizations andarea water boards wereconstituted by the Authority andamendments are aimed at toensure justifiable distribution ofcanal water among the growersand resolution of different issuesbeing faced by the farmingcommunity at local level.Decision to this effect was takenat the 43rd meeting of theAuthority held here on Fridaywith the Punjab IrrigationMinister Malik Ahmad Ali Aulakhin the chair.
The meeting was given a briefingabout the performance of farmers’organizations set up in area waterboards constituted on big canals.Different proposals weresubmitted in the meeting to makethese organizations more effectiveand active. It was proposed thatduration of these organizationsshould be increased to five yearsfrom three years, 0.5 per centincrease in funds for elections ofarea water boards and holdingelections of all members of anarea water board on same day.The meeting was informed thatAuthority would keep any newlyformed grower organization inCategory-B and promote it tocategory-A on showing goodperformance. Nevertheless, poorperformers would remain in B-category for another year. Themeeting also approved the annualPIDA budget for year 2011-12 and
decided to send the case of 15percent adhoc relief allowance ofthe employees to the ChiefSecretary Punjab.The meeting also recommendedfor providing funds required forcompletion of under constructionbuilding of area water boards onlower Chenab Canal system.Speaking on this occasion, thePunjab Irrigation Minister saidthat the present government wasstriving to facilitate the growers atevery level and inclusion ofgrowers in canal system was apart of those efforts. he urged thefarmers to play their role inimproving the shared-canalsystem so as to ensure justifiabledistribution of water andprovision of water to growers atthe tail of any canal system. healso called for taking solid stepsto check water theft and recoveryof water cess.
Govt clutching at strawsover wheat production
PIDA to ensure farmers’ organisations don’t go down the draing Seeks to amend rules for organisations and area water boardsg Vies to channelise canal water distribution
LCCI gnashes its teeth and gives ECC an earfulANGRY BIRDS
LAHORE
STAFF REPORT
The Lahore Chamber ofCommerce and IndustrySaturday flayed the
economic CoordinationCommittee (eCC) decision torevise fuel prices every fifteendays and urged the governmentto implement policy of quarterlyreview of petroleum prices. In a statement issued here, theLCCI President Irfan QaiserSheikh termed the eCC decisionan inflation-push formula thatwould crush the entire economicactivity to the extent therefore itwould be wiser on the part of thegovernment if the prices arereviewed after every threemonths. The LCCI President wasof the view that at this point intime when the energy-related
street protests, industrialclosures and resultant massivelay-offs are order of the day, theeCC should have weighed optionsand methodologies to bringeconomic normalcy in thecountry but unfortunately it haddone the other way round. Irfan Qaiser Sheikh said that theLahore Chamber of Commerce andIndustry has repeatedly appealedto the government to announcespecial incentives for the trade andindustry to rejuvenate economicactivity in the country but nothinglike that has taken place so far. TheLCCI President said that theimplantation of eCC new fuelfixation formula would createmultiple problems for the tradeand industry as businesscommunity would not be able tocalculate return on investmentwhen the cost of doing business
would be fluctuating everyfifteen days.Irfan Qaiser Sheikh said that it iscommon phenomenon that inunusual circumstances, routineworking methodologies areshelved and special measures areadopted to get rid of economicmeltdown but in Pakistanadhocism in policy making hastaken deep roots. The LCCIPresident said that Pakistan hadalready lost a number ofinternational markets and theeconomic CoordinationCommittee decision would makethe Pakistani goods moreuncompetitive. he demandedthat the new fuel priceadjustment formula should alsobe revamped as it is bound to hitthe millions of consumers hard.Irfan Qaiser Sheikh said that theeconomic CoordinationCommittee should consult thebusiness community beforemaking any business-relateddecisions as it is the realstakeholder.
ALI HAIDER
The micro-credit movementacross the globe is not simplyabout money but ratherusing the money to achieve
its respective end. When in the righthands money has the power toliberate the enslaved, to unleash thehorizon of dreams and when not inthe right hands, has the potential tounleash nightmares. Lessons ineconomics teach us that for there tobe an effective demand the consumermust be willing and capable ofpurchasing the product. Merelywilling but not backed by a capacity todo so is not sufficient to createeffective demand. In Pakistan, theimportance of the SMe sector cannotbe over-emphasized since it comprisesof almost 90 per cent of allenterprises currently operational inPakistan. There is no dearth of talentin the country however the talentmust be backed by money to tap its
true potential. With millions of peopleliving below the poverty line,Khushhalibank with its microfinanceprogrammes has been able to touchthe lives of thousands of people acrossthe country. The success of the bankcan be ascertained from the fact thatit has now developed a large customerbase in the poorer districts of thecountry while the recovery rate of theinstitution remains above 95 per cent.One such person who has been able tostand proudly on her feet with thehelp of the microfinance programmeis Mairaj Bibi. As a divorcee and a single parent of ayoung boy, Mairaj Bibi residing inSahiwal aged 53, lived through limitedresources and barely any supportfrom her relatives. however, her driveand determination to overcome herdifficult circumstances led her tofulfill one of her many dreams ofopening a small Karyana store. Withabsolutely no working capital, shemortgaged her jewelry to a local
money lender andmanaged to getsome money tostart her business.Initiated with tenprofitable productlines sheconsequentlymanaged to get aquick return on herinitial investment.Moreover, herprofessionalconduct, regulartimings, dealing inhigh quality itemsand concentratingon limited productlines resulted inhigh sales for theentrepreneur. Amonth into thebusiness, she wasquite confident and financially soundto add further product lines in hersmall shack store. having met some
vendors, she added twenty productlines on a fifteen day credit system. Within three months she was able toget good returns from the business,yet it was not very profitable since amajor portion of her profit was beingconsumed in paying interest to thelocal vendors. At that time, she was
taking loans ontwo hundred andfifty per cent rateof interest fromvarious sources,including familymembers, and alocal moneylender. This poseda great danger toher business.Thus, shecontinuedsearching forsome reasonablesource offinancing for herbusiness and herquest finallyended when sheheard aboutKhushhalibank’smicro loans onmuch feasibleinterest rate,
which she availed in no time.Now after five years in the business,
she has transformed her shack storein to a well furnished one, with morethan a hundred quality product lines.She has increased her daily sale fromRs400 to Rs3,000. Presently, she isrunning a sound and well managedKaryana store which she dreamt of acouple of years ago. She is verypleased with life and her son now goesto a good school in the city. “A womanis not made for defeat, women can bedestroyed but not defeated,” she saysas she continues to make plans forexpanding her business.Mairaj Bibi is a glaring example ofthe sheer will and determination ofthe women of Pakistan who arewilling to fight against heavy odds.expanding her business and workingwith an employee of her own, shecontinues to believe that there ismore yet to come. her future plansentail opening another small store inher village while simultaneouslyproviding the residents of thelocality with the facility of havingtheir products delivered at theirdoorsteps. “A woman is not weak,she is not fragile and her spiritcannot be suppressed even if she isshackled in chains.”Instead of accepting defeat, MairajBibi transformed the defeat into anopportunity that will transform herlife and that of her children.
g Flays fuel fixation formula g Repeats ‘lack ofincentives for trade and industry’ rhetoric
Entrepreneurial spiritMairaj Bibi and her struggle to defy the odds
A woman is notmade for defeat;women can be
destroyed but notdefeated
PRO 09-04-2012_Layout 1 4/9/2012 12:16 AM Page 2
news
Monday, 09 April, 2012
03
JOSE AntOnIO OCAMpO
Ihave been honored by WorldBank directors representingdeveloping countries andRussia to be selected as one
of two developing-countrycandidates to become the Bank’snext president. So I want to makeknown to the global community theprinciples that will guide myactions if I am elected – principlesbased on lessons learned fromdevelopment experience.That experience has taught me thatsuccessful development is alwaysthe result of a judicious mix ofmarket, state, and society. Tryingto suppress markets leads to grossinefficiencies and loss ofdynamism. Trying to do withoutthe state leads to unstable and/orinequitable outcomes. And tryingto ignore social actors that play anessential role at the national andlocal levels precludes the popularlegitimacy that successfulpolicymaking requires.Indeed, the specific mix ofmarkets, state, and society shouldbe the subject of national decisionsadopted by representativeauthorities. This means that it isnot the role of any internationalinstitution to impose a particularmodel of development on anycountry – a mistake that the WorldBank made in the past, and that ithas been working to correct.Because no “one-size-fits-all”strategy exists, the Bank mustinclude among its staff the globaldiversity of approaches todevelopment issues.
Development is a comprehensiveprocess that involves economic,social, and environmentaldimensions – the three pillars ofsustainable development.And, frankly, I have concerns aboutsome of the World Bank’s viewsand priorities in recent decades.For example, while the Bank hasmade important contributions tothe nurturing of deep financialsectors, it still has much to learnabout financial inclusiveness andthe role that well designeddevelopment banks have played infostering sustainable and inclusivegrowth in countries around theworld. We should never forget, inthis regard, that the World Bank isitself a global public-sectordevelopment institution.The Bank contributed significantlyin its early decades to thedevelopment of high-qualityphysical infrastructure, a criticalarea that, unfortunately, was latermarginalized. The return of thisissue to the center of the Bank’sfocus is a welcome development.Above all, I believe that economicdevelopment should be viewed as aprocess of persistent structuralchange, which, if successful,supports constant technologicalupgrading of production and trade.This approach was central to theWorld Bank’s activities up to the1970’s, and, while it has beenpartly revived, it is still far frombeing incorporated into the Bank’soperations.The goal of development is greaterand more equitable human welfare.human development is about much
more than the generation of humancapital: it is essentially aboutexpanding the scope of humanfreedom. And that can be achievedonly with universal education,health care, and social protection.Targeting can be a usefulinstrument of universal policies,but it can never serve as asubstitute for them. Likewise,social protection goes beyond thenarrow concept of the “social safetynet” that has dominated debate inrecent decades. The concept of the“social protection floor,” recentlyproposed by the (produced by theInternational Labor Organizationunder the leadership of formerChilean President MichelleBachelet) provides betterintellectual grounding.equity and inclusiveness requireplacing the advancement of thepoor and other marginalizedgroups at the center ofdevelopment specialists’ concern.In particular, gender equalitydeserves special attention, anapproach that the World Banktoday rightly characterizes as smarteconomics.Guaranteeing these objectives isnot just about compensating formarket outcomes and social forcesthat generate or reproduceinequalities. It is also aboutincorporating these objectives intoeconomic policymaking, by placingthe creation of fulfilling jobs andwell-developed welfare institutionsat the center of the economicagenda, and by respecting the roleof cultural diversity in economicdevelopment.
This approach also applies to theenvironmental pillar of development:intervention to counter damagegenerated by the economy is notenough. environmental concernsmust be fully assimilated intoeconomic policymaking – that is,into the incentive structure thatdrives decisions. Only then caneconomic development be madecompatible with the contributionsthat developing countries must maketo mitigating climate change andpreserving our planet’s remainingnatural forests and biologicaldiversity.The World Bank’s capacity tocontribute to achieving these goalsdepends on it remaining a trueglobal institution with a specialresponsibility vis-à-vis the world’spoorest countries and acommitment to helping middle-income countries face their ownchallenges. It must count on thevision and contributions of moreadvanced nations, as well as thoseof emerging powers. And it mustdo so as part of the system ofglobal governance, strengtheningits cooperation with othermultilateral organizations, inparticular those in the unitedNations system and regional andsubregional development banks.These are the developmentprinciples and priorities for whichI stand. If elected to head theworld’s leading developmentinstitution, I will work with all ofits members to fulfill them.
A version of this article was firstpublished in Project Syndicate
ISLAMABAD
ONLINE
IN an apparent bid to savemore than Rs 70 billion andto control grey trafficking bytelecom operators, the
government has decided toestablish “International Callinghouse” in the country.Officials sources in the Pakistantelecommunication Authority(PTA) said that earlier nomechanism exist in the country todetermine the incoming to differentoperating networks in the country.The sources also said that due tocertain flaws in the existing system
of telecom authority operators werefree in their world and wrongfigures were given by telecomcompanies to Telecom authoritypertaining to the incoming callsthey receives.Sources informed that traffic ofincoming calls from national andinternational networks remain highbut companies did not presentedthe actual details of their incomingand outgoing calls from local andinternational levels.“If a company receives hundredincoming calls from local andinternational networks, then itshows fifty incoming calls whiledetails about else calls were kept
secret and complete details werenot provided” sources informed. Due to flaws in determinationsystem of PTA companies pays halfof the amounts to government andaccording to sources annuallygovernment faces loss of more thanseventy billion rupees. Keeping in view the whole situationgovernment has decided toestablish international callinghouse in PTA to undertake all suchissues. Sources further informed that afterthe formation of Internationalcalling house in the country pricevariation among differentcompanies would also be removed
and same rates would be fixed forall the telecom operators in thecountry. After removal of pricevariation calling rates would bestable for about three years. Afterformation of international callinghouse authority would be able tomonitor the entire business of thecompanies and billion of rupeeswould be added into the nationalexchequer. Sourced told this house would besetup in the PTA while equipmentfor this house would be provided bytelecom companies.Sources informed that in thisregard summary has been sent toPrime Minister for its approval.
What should theWorld Bank do?
ICCI eyes a scrumptious slice of the budget pie
Servis launched new campaign for its brand LIZA
LAHORE: Service Sales Corporation, Pakistan’s leadingfootwear retailer, has launched a new campaign for Liza,its brand for women’s shoes. The campaign “Liza: TheFun Side of Life” has a lively TVC that revolves around ayoung, cheerful girl who manages to attract everybody’sattention because of her striking shoes. The ad isaccompanied by a jingle that leaves you humming thetune long after you have seen the ad or heard it onpopular FM stations. SSC’s marketing team comprisingGM Marketing Naim-ul-Abd, head of CommunicationMian Shahzad Khalid, and Trade Marketing headhassaan Khalid believe that the differentiating factorsfor this campaign are its lively story line, the choice ofMehreen Raheel as the lead model along with Mekaal,and overall aesthetics of production thanks to theproducer, director, the shooting location and setup, andtheir team at the agency. The campaign perfectly sets themood for a very trendy summer as the new Liza summercollection is on display in stores now with the promise ofa fashion savvy summer. The campaign is currentlygetting great reviews from customers and businesscommunity. PRESS RELEASE
LG brings new total solution for floorheating, cooling and hot water supplyLAHORE: LG electronics (LG) is participating inMostra Convegno expocomfort (MCe) 2012 in Milan toshowcase the hydro Kit, a total hVAC solution to meetincreasingly demanding air conditioning, floor heating,radiator and sanitary hot water supply needs. honoredas a Percorso efficienza & Innovazione (efficiency andInnovation Path) product for MCe 2012, LG’s new hydroKit manages sanitary hot water supply and floor heatingmore efficiently than a conventional boiler despite usingless energy. The system also does its part to protect theenvironment by significantly reducing CO2 emissions.Thanks to advanced heat pump technology and aninnovative compressor, the hydro Kit can achieve energysavings of up to 77 percent over a boiler, which translatesto approximately 3.6 times greater energy efficiency. Inaddition, the hydro Kit’s heat pump works much moreefficiently and conserves more energy than a traditionalheating system based on fossil fuels or electricity,enabling customers to reduce running costs as well ascarbon emissions. Along with these benefits, LG’s systemattains a significantly higher coefficient of performance(COP) — up to 4.2 — than a regular boiler. PRESS RELEASE
KARACHI: Mr. Roy Chang, Head of HHP Division SamsungElectronics along with Mr. Farid Jan, Business Manager - HHP ,Mr. Abu Nasar product manager HHP and Ms. Najiyeh Akbar,Manager Marketing HHP, Samsung Electronics Pakistanshowcase Samsung new smart phone at the launch of SamsungGalaxy Note Studio in Karachi. PRESS RELEASE
CORPORATE CORNER
RAWALPINDI: Seen in the picture, from (left TO right) Mr.Sheharyar Mirza, General Manager (far Left) along WITH HISExcellency DATO’ Ahmad Anwar Bin, High Commissioner ofMalaysia AND HER Excellency Dr. Aishath Shehenaz Adam,High Commissioner of Maldives in Pakistan inaugurating the2012 Regional Food Festival at the Pearl Continental Hotel,Rawalpindi. PRESS RELEASEInternational Calling House – A name that grey trafficking operators fear
ISLAMABAD
APP
SuFFICIeNT funds should be allocatedin the forthcoming budget for energyprojects and construction of dam and
water reservoirs to tackle the energy short-ages. “Besides this, the government shouldinitiate various power projects to bridge sup-ply and demand gap as it is high time to de-velop all available energy generatingresources including hydel, thermal and windto end the energy crisis”, yassar Sakhi Butt,
President Islamabad Chamber of Com-merce and Industry (ICCI) made these re-marks during a meeting held here.
he said that the industrial sector couldnot wait for long and the government shouldpresent quick solution to fill in the gap be-tween demand and supply of energy.
he said that Government should allocatemore funds in upcoming budget for tapping
Thar Coal potential because these reservescould play a pivotal role in meeting energycrises both in long term and short term whichwould enhance industrial competitivenessdue to cost effectiveness.
yassar Sakhi Butt said that Governmentshould also strive hard to attract foreign in-vestors by giving them lucrative incentives toinvest in energy projects in Pakistan, aimingto bring down expensive oil-based energygeneration in the country.
he said that Pakistan’s electricity de-mand was increasing by 7 per cent annuallyand allocation of small amount of funds inlast year budget 2011-12 for new dams andwater reservoirs were insufficient.
ICCI President said that high power tar-iff, a burden on businesses and consumers,could be reduced by utilizing the availablewater resources more efficiently as the wateris the most viable and cheapest way to pro-duce electricity.
g Wants allocation of sufficient funds for energy projects Protesting promotions
LAHORE
STAFF REPORT
eMPLOyeeS of the Regional Tax Office (RTO) Lahore con-tinued pen down strike on the second consecutive dayagainst the proposal of promotion of senior auditors as As-
sistant Commissioner (Inland Revenue). Federal Revenue Alliance(FRA) employees union President Mian Abdul Qayyum led ademonstration in front of the RTO here on Saturday to condemnthe decision which according to them would stop the promotion ofincome tax (Inland Revenue) employees. Participants of thedemonstration were demanding immediate withdrawal of the pro-posal claiming that it was also not agreed by Member Inland Rev-enue and Member Legal FBR which was the basic requirementbefore sending the case to Ministry of Finance. Their other demandsincluded that the Carrier path in the services must be properly fol-lowed and in this respect the senior auditors be asked to file suretybonds/affidavits so that they would not file any case in the courtslater on against this career path defined already. Two orders i.e. put-ting Sr. Auditors as unit In charges and the other one designatingthem as Assistant Commissioner Inland Revenue (OPS) be with-drawn immediately. An Inland Revenue Officer must be posted asMember (Admn). Inland Revenue Officers and Inspectors InlandRevenue be also upgraded to BS -17 and BS – 16 respectively.
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