Saturday, 11 February, 2012

Index up 18 points asinvestors eye fresh boost Page 3

profit.com.pk

KARACHI

STAFF REPORT

T HE cement dispatches for themonth of January 2012 grew by2.32 per cent Year-on-Year (YoY)to stand at 2.54 million tonnes

compared to 2.49 million tonnes in thecorresponding period last year, show thedata released by all Pakistan CementManufacturers association (aPCMa).

total cement dispatches in 7MFY12stood at 17.95 million tonnes, up 3.94 percent YoY, which previously stood at 17.2million tonnes in the corresponding pe-riod of last year.

Local dispatches during the 7MFY12

showed growth of 7.21 per cent to 12.89million tonnes, while exports remainedon negative side, and posted a decline of3.59 per cent to 5.05 million tonnes.

“Cement demand is expected to re-main flat till March-12 due to prevailingwinter season and lack of infrastructuraldevelopment, while the cement consump-tion in the country is expected to head upfrom april-12 onwards,” said Yawar UzZaman, an analyst at investCap Research.

the analyst said international coalprices increased by 18 per cent YoY dur-ing the first half of FY12, which alongsiderupee depreciation of average two percent YoY during the same period signifycost pressures.

With exports dwindling on thebroader scale and rising tilt of dispatchestowards domestic market, the impact ofcostlier coal as a result of rupee devalua-tion has escalated. “However, the sectordid manage to maintain higher cementprices at the local front in an attempt tocater to cost pressures,” Zaman said.

in this manner, he said, local cementprices recorded a healthy increase of 23per cent YoY during 1HFY12, providingbuffer not only against higher coal prices,but also against slower exports and rupeedepreciation.

so far, mainstream companies hadposted healthy increase in gross marginsduring 1HFY12 as a result of better pric-

ing as well as materialisation of cost con-trolling measures.

the analyst said, although coal priceshad shown further strength during themonth of January, being up by four percent MoM on average basis, but the in-crease was deemed to be a seasonal phe-nomenon related to coal demand in thewinter season. the said increase, Zamansaid, would likely revert in the comingmonths owing to lack of triggers offeredby the demand side going forward.

Moreover, he said, the coal pricetrend so far during FY12 was much morestable compared to the last two yeartrend. “We see coal prices at current levelspresenting no significant threat to cement

sector profitability in coming quarters.”the cement industry, Zaman viewed, con-tinued to remain one of the highly lever-aged sectors of the country, where most ofthe companies faced lofty financial bur-dens on the income statement. “However,reduction in the policy rate by 200bpsduring FY12 will benefit leveraged compa-nies within the sector,” he said.

this coupled with favorable pricingscenario, up tick in domestic demandand higher realisation/allocation forPsDP during FY12/FY13 on the back ofpopular decisions expected to be takenby the government was likely to put thecement sector in a better position, saidthe analyst.

Govt releases Rs5b for powergenerationg MWP demands Rs25 billion for February

ISLAMABAD

AMER SIAL

G ovERnMEnt has releasedRs5 billion during the firstweek of current month,

while the Ministry of Water andPower (MWP) has estimated ademand of Rs25 billion tomaintain uninterrupted powersupply during February. an officialsource said that the next tranchewould be released by the middle ofthe current month when theministry presents the details of therecovery to the ministry of finance.He said government released Rs15billion as against the projecteddemand of Rs25 billion duringJanuary. Giving reason for lessreleases than the estimate duringJanuary, the source said thereleases were linked with therecovery of the power distributioncompanies (DisCos), whichremained low during December.However, he said that therecoveries in January have beenexpedited, especially long overdueamounts that will help getmaximum releases duringFebruary. MWP had demanded theamount to maintain the supply at9500 MW. the source said that thepower supply situationsignificantly improved after theopening of the canals. the hydelpower generation jumped from500 MW during canal closureperiod to 3800 MW during the lastfew days. this has helped end theload shedding. the powergeneration has increased to 9800MW as against the demand of 9500MW. the source said that all theDisCos were directed to improvetheir recoveries and targets wereset at sub divisional levels whichwere continuously monitored thathave helped improve the situation.He said measures adopted bygovernment would help maintainthe situation till april but afterthat energy conservations have tobe adopted to avoid power outages.

Intl coal price-hike poses no significant threat to cement sectorgCement dispatches in January up by 2.32pc to stand at 2.54mn tonnes g Winter season to keep demand flat till March g 200-bps cut in discount rate during FY12 to benefit leveraged companies

ISLAMABAD

AMER SIAL

Pakistan plans to auction atleast 17 petroleum concessionswithin the next few weeks asthe major irritants in the

approval of the new PetroleumExploration and Production Policy 2012were resolved on Friday, with thefederal government agreeing to includeprovincial government representativesin the concessions awards committeeand reviving the zoning system.the decisions were made at a speciallyconvened meeting jointly chaired byspecial assistant to the Prime Ministeron Petroleum Dr asim Hussain andsecretary Petroleum Ejaz Chaudharyand attended by Chief secretary Punjabnasir Mahmood khosa, Chief secretarysindh Raja Muhammad abbas andother senior officials of the provincialenergy and mineral departmentsbesides senior officers of the ministry ofpetroleum. an official source said thatthe reservation expressed by khyberPakhtunkhwa and Balochistan forcedthe federal government to revive the

zoning system which was abolished inthe new policy. the provinces were ofthe opinion that explorations in theirareas were difficult as compared toother provinces and a premium shouldbe offered. the amended draft would becirculated to provinces within the nextfew days after their approval the newpolicy will be announced. the newPetroleum Policy will have three zones.a price of $6.6 mmBtU will be offeredfor oil and gas exploration in zone oneconsisting of parts of khyberPakhtunkhwa and Balochistan, $6.3mmBtU in zone two consisting of partsof Balochistan and sindh and $6mmBtU for sindh and Punjab. theprice for offshore drilling will be $7mmBtU with a bonanza of $1 mmBtUfor first three discoveries. the sourcesaid new prices will be offered to alldiscoveries made under the previouspolicies but not already linked with thetransmission network. the source said the provinces wereassured that all the decisions in theaward of exploration blocks will be heldwith their consent. But they stressedinclusion of their representatives in the

awards committee which was accepted.However, a proposal of Pakhtunkhwa toget additional gas supply against itsroyalty payments was rejected by thecommittee as other provinces opposedit. Pakistan signed the last petroleumconcessions agreements in 2010. theprocess was stopped after July 01, 2010,due the passage of the 18th amendmentfrom the parliament that devolvedmany subjects on the concurrent list tothe provinces that included power andenergy sector. Later on the federalgovernment clarified that the centre willmaintain the role of the regulator inpower and energy issues. to address the various concerns of theinvestors, new Petroleum Policy wasdrafted in 2011 but its approval gotdelayed due to the opposition of theprovinces. the matter was taken to theCouncil of Common interest (CCi) forresolution which accorded an in-principle approval to the PetroleumPolicy 2012 on February 9. immediatelyafter the announcement of the newPetroleum Policy, the source said bidswill be invited for 17 exploration blocksout of the total available 36. He said 17

were ready for immediate bidding whileprocess on the remaining was beingexpedited. Pakistan is faced with ashortfall of 2 bcfd of gas as against theestimated national demand of 6 bcfd.this has resulted in a shortfall of 5,000MW resulting long power outages thatis declining the GDP growth by threeper cent per annum. a statement issued by the petroleumministry said Dr asim Hussaincongratulated the entire teamcomprising of the officers of theministry of petroleum and provincialfocal persons who worked on thepreparation of new Petroleum Policy2012. secretary petroleum said issuespertaining to royalties, zoning andwell head pricing have been mutuallyagreed upon and provinces do nothave any reservations any more.Provincial representatives agreedthat a representative of the provincialgovernments would be part of theconcessions awards committee aswell as directorate of petroleumconcessions and the average wellhead pricing in each zone wouldremain uniform.

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news02Saturday, 11 February, 2012

OGDCL starts production from Kunnar Pasaki LAHORE: LPG association of Pakistan has congratulatedoGDCL on commencing production of 120 Mt of LPG perday from its kunnar Pasaki Field. “this is the firstsignificant production of LPG in the country in the pastseven years and represents a major achievement foroGDCL” said Belal Jabbar, the spokesman for the LPGassociation of Pakistan. the additional LPG will add 12 percent to the existing local production and will once againboost local production which has been on the decline. thenew production is also likely to replace costly imports andprovide a relief to the national exchequer. LPG prices hit arecord high earlier this month due to the imposition ofPetroleum Levy and an all time high saudi aramco Contractprice with which local prices are indexed. Petroleum Levywas enforced to equate the price of local production withimports in a bid to improve supplies of the latter. “Facedwith a lackluster demand due to unfathomably high prices,marketing companies have begun to scale down their salerates. Demand pattern is also shifting due to change inweather and resumption of gas supplies to industries andhouseholds” said Belal. STAFF REPORT

Korean firm to bring food-based investmentsKARACHI: a korean company has expressed its interestto encourage and bring food-based investmentsin Pakistan. the company agreed to bring investment tospecial Economic Zone where the utilities and otherrequirements are ensured from within by sEZ developer.according to a statement issued by tDaP, thedevelopment was made during a meeting held betweenthe Chief Executive tDaP, tariq Puri and representativeof sojung Cooking and G-Food of korea on the sidelines ofthe planning meeting for Yeosu Expo 2012. Besides thatthe chief executive also offered to introduce them toparties for their plan regarding green-house farming ofred chillies. sojung Cooking and G-Food plan tovisit Pakistan in May 2012 to progress their business plan.the foreign company’s representatives also discussedtheir plan for growing horticultural products in Pakistanand processing them for value added export ofhorticulture products particularly rice related value addedproducts and korean variety of red chillies. STAFF REPORT

LCCI, KCCI concerned over pharma victimisation LAHORE/KARACHI: Lahore Chamber of Commerceand industry has expressed concern over unduevictimisation of the domestic pharma industry. in astatement issued on Friday, the LCCi President irfanQaiser sheikh said that it is a matter of concern to targetthe pharmaceutical industry as a whole with bad publicity,which will also hamper the pharmaceutical exports as wellas shake the confidence of citizens on the pharmacompanies. He voiced that it has been observed that suchcases sometimes occur in developed countries also. He saidthat there are a number of pharmaceutical companies,which are manufacturing quality medicines to cater to thenational needs, along with exports to Middle East, asEancountries, Cis, african and other regional countries. irfanQaiser sheikh said that owing to the good reputation of theaccused pharma company in Pakistan and abroad since thelast 35 years, chances of conspiracy to malign the name ofthe alleged company may not be ruled out. karachiChamber of Commerce and industry (kCCi) has expressedits deep concern over undue victimising of pharmaceuticalindustries of karachi in particular and Pakistan in general,in the sidelines of tragic incidence of deaths at Punjabinstitute of Cardiology. President kCCi Mian abrarahmad voiced that the negative publicity was tarnishingthe image of the whole pharmaceutical industryof Pakistan which is the fourth largest revenue contributorto the national exchequer. He articulated that suchincidents had happened in the developed countries as well.Recently, in France a drug killed around 1,300 people.such an accident also took place in our neighbouringcountry and the Chernobyl tragedy claimed thousands oflives. He was of the view that tragic incidents happenaround the globe and inquires and investigations are madeto find out the real cause of the happenings, however, theindustries are penalised or compelled to shutdown orsealed, anywhere in the world. STAFF REPORT

Car sales up 17pc in 7MFY12KARACHI: Car sales during 7MFY12 increased by 17 percent to 96,922 units compared to 82,767 units in the sameperiod last year. the improvement in volumetric sales ison account of yellow cab scheme announced by the Punjabgovernment and deferred sales from June to July becauseof reduced tax structure in federal budget FY12, said theanalysts at topline Research. in the month of January, carsales improved by 34 per cent to 14,991 units as comparedto 11,214 units in December 2011 due to the year-enddeferred sales phenomenon. However, sales grew by amere two per cent as compared to the same month lastyear. Company-wise, PsMC continued to depict stronggrowth of 33 per cent in 7MFY12 to 60,159 units versus45,113 units seen in the same period last year. “thecompany is benefiting from the announced yellow cabscheme, with Mehran and Bolan showing an impressivegrowth of 40 per cent and 43 per cent, respectively,” saidnauman khan. Moreover, the analyst said, sales of swifthad reached 3,847 units in 7MFY12, depicting a growth of95 per cent. as regards to company’s market share, it hasexpanded to 62 per cent in 7MFY12 against 55 per cent inthe same period last year. STAFF REPORT

KARACHI

ISMAIL DILAWAR

soME 29 listed companies,mostly from textile sector,are on the verge of delistingfor defaulting on the listing

regulations ranging from non-holdingof the annual General Meetings(aGMs) to non-payment of the listingfee. karachi stock Exchange (ksE)Friday issued final notices to the non-complying firms that if failed to rec-tify the defaults would be attractingthe ire of both the front and apex reg-ulators. Companies are under fire fortheir failure to comply with clause b,e and g of the Listing Regulationnumber 30(1) that, respectively, en-tail the companies’ failure to holdaGM for two consecutive years, paythe annual listing fee for two years,penalty or any other dues and join

Credit Default swap (CDs). the de-fault period for these firms rangesfrom 2001 to 2010.

17 companies which have been is-sued final notices and are facingdelisting form the exchange includealmal securities and services Limited,Dominion stock Fund, Harum textileMills, investec securities, kashmirPolytex, nina industries, Pakistan in-dustrial and Commercial Leasing,sahrish textile Mills, Usman textileMills, Union insurance Company ofPakistan, Dadabhoy insurance Com-pany, First islamic Modaraba, ittefaqGeneral insurance Company, ittefaqtextile Mills, Macdonald Layton andCo, Mian Muhammad sugar Mills andZahur textile Mills. “these firms arealready quoted in the defaulters’ seg-ment of the exchange and trading intheir shares has been suspended,”reads a notice issued by ksE’s Deputy

Managing Director, Haroon askariFriday. He said these companies hadbeen issued a final notice to rectify theabove defaults within 90 days, up toMay 10, failing which the exchangeshall proceed to de-list the companiesfrom the exchange in accordance withthe listing regulations.

the cases of these companieshave also been forwarded to securi-ties and Exchange Commission ofPakistan (sECP) which would initiateappropriate action under the Compa-nies ordinance, 1984 against thesecompanies or their managements.

also, the companies pursuance tothe above listing regulation, havebeen advised the option of voluntarydelisting through buy-back of sharesof the minority shareholders by thesponsors or majority shareholders inaccordance with listing regulation no30-a. in addition, 12 other firms are

faced with the danger of having sus-pended trading in their shares or ulti-mately the delisting.

these are accord textile Limited,al-azhar textile Mills, al-Qaim tex-tile Mills, amin spinning Mills, Fawadtextile Mills, Hashmi Can Company,indus Fruit Products, Libaas textile,Mubarak Dairies Limited, shahpurtextile Mills, Zahur Cotton Mills andamz ventures Limited. ksE has set a30-day deadline ending on March 12,until which these companies couldrectify their defaults or brace for puni-tive action by the front and apex regu-lators. the cases of these companies,askari said, would also be sent tosECP for initiating necessary actionunder the applicable company laws.“these firms are already quoted in thedefaulters’ segment of ksE on accountof their defaults of various natures,”deputy managing director said.

aCtinG President khyberPakhtunkhwa Chamber ofCommerce and industry (kPCCi),Ziaul Haq sarhadi said Friday

hundreds of truck-loads of afghan transitcommercial cargo are stranded at torkhamborder and takhta Baig checkpost, causinghuge financial losses to traders. sarhadi said inthis connection, a kPCCi delegation, led bykPCCi President afan aziz, had separatemeetings with kP Governor Barrister, Masoodkausar and Frontier Corps (FC) commandantsometime back, adding the said meetingsresulted in formation of a committee, but invain as no steps had yet been taken to solvethe commercial cargo problem. sarhadiexpressed these views at a meeting ofFrontier Customs agents Group and Pak-afghan transit traders held at thechamber. kPCCi vice President

abid salam, imtiaz ali, tufail Gurwara, kPExecutive Committee Member, sikandar, andaamir Bilal, itehad Customs service and others

attended the meeting. kPCCi acting president saidtrucks loaded with commercial cargo are stillstuck. as a result, he added, traders had beensuffering losses worth millions of rupees. Heasked the participants of the meeting to give

complaints in writing to the chamber so that thesecould be forwarded to the higher authorities for

solution to their problems. He also suggestedformation of a dry port trust. sarhadi said khyberPakhtunkhwa was rich in marble, gemstone,furniture, match sticks and other natural resources.

He said introduction of a business train from karachiwas a welcome sign and would provide facilities totraders and industrialists. tufail Gurwarasuggested the stakeholders should immediatelyaddress a press conference on afghan transit trade

like they did in case of sui gas issue. He alsoproposed a meeting within this week with thecollector customs to discuss torkham, dry

port, afghan transit trade and otherburning issues.

KSE issues final delistingnotices to 29 defaulting firms

KARACHI

ISMAIL DILAWAR

Pakistanis workingabroad sent back homeover $7.435 billion duringthe first seven months of

the current fiscal year 2011-12, thestate Bank reported Friday. this,the central bank said, shows animpressive growth of 21.54 per centor $1.317 billion compared to$6.118 billion, the dollar-hungrycountry had received during the lastyear’s corresponding period, July-January 2011.the remittances received from allcountries of the world during July-January 2012, depicted growth, thebank said. it said during the reviewperiod, the inflow of remittancesfrom saudi arabia, UaE, Usa, Uk,GCC countries (including Bahrain,kuwait, Qatar and oman) and EUcountries amounted, respectively, to$2.008 billion, $1.644 billion,$1.328 billion, $853.47 million,$845.41 million and $215.64million. Whereas, remittances fromthe same destinations last yearamounted to $1.353 billion, $1.437billion, $1.145 billion, $669.70million, $721.47 million and$195.66 million, respectively, saidsBP. it said the remittancesreceived from norway, switzerland,australia, Canada, Japan and othercountries were calculated at

$540.34 million as compared to$594.98 million received during thecorresponding months of last fiscalyear. the monthly averageremittances for the period came outto be $1.062 billion as compared to$874.00 million of the same periodin FY11. this shows a 21.54 per centupsurge in the flow of remittancesover last year, said sBP. Lastmonth in January, the regulatorsaid, an amount of $1.110 billionwas sent back home by overseasPakistanis, which registered anincrease of 34.37 per cent whencompared with $826.57 million thecountry received during the sameperiod in 2011.During the month under review,the inflow of remittances fromsaudi arabia, UaE, Usa, Uk, GCCcountries and EU countriesaccumulated to $346.58 million,$231.42 million, $178.07 million,$127.12 million, $124.22 millionand $26.50 million, respectively,against an inflow of $209.58million, $181.40 million, $148.03million, $92.53 million, $95.18million and $23.56 million inJanuary 2011. Whereas, theremittances received fromnorway, switzerland, australia,Canada, Japan and other countriesduring the said month amountedto $76.73 million as against$76.29 million received during thesame month in FY11.

Remittances swell over 21pcto $7.44b during July-Jan-FY12

ISLAMABAD

STAFF REPORT

an increase inincorporation ofcompanies waswitnessed as the

registration of new companiesjumped by 31 per cent withsecurities and ExchangeCommission of Pakistan (sECP)registering 356 companies inJanuary as compared to 271companies during December lastyear. according to the figuresreleased by sECP, during thecurrent financial year, a total of1,942 companies have beenregistered compared to 1,700during the corresponding periodof last financial year, reflecting anincrease of 14 per cent.the private companies have thehighest share in new incorporationtotaling to 323, followed by 21single-member companies, twopublic unlisted companies, fivenon-profit association and foreigncompanies each registered duringJanuary. out of the five foreigncompanies, one each from Us,switzerland, turkey, Hong kongand sri Lanka were registered inLahore. Foreign investment by

aJk nationals was witnessed intwo new local companiesregistered in islamabad in tradingand consultancy services.nationals from China and turkeyalso registered two new localcompanies in karachi and Lahorerespectively in leather andtanneries, and it sectors,respectively.sector-wise positions show thatservices sector had the highestnew incorporation of 53companies, followed by trading 41companies, hajj and umrahservices 29 companies,construction 23 companies, it 16companies, food and beverages 15companies, engineering 14companies, textile andcommunications 13 companieseach, corporate agriculturalfarming 12 companies, tourism 11companies and pharmaceuticals 10companies.Company Registration office(CRo), Lahore registered 102companies followed by CRoskarachi and islamabad registering100 and 97 companies,respectively. the remaining CRosPeshawar, Faisalabad, Multan andQuetta registered 25, 18, eight andsix companies, respectively.

Companies registration jumpsby 31 per cent in Januaryg SECP registered 356 companies in January

Afghan transit cargo strands, causes financial lossesPESHAWAR

STAFF REPORT

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news

Saturday, 11 February, 2012

03

CORPORATE CORNERLG glasses-free 3D smartphoneknocks out 3D cameras

LAHORE: LG’s 3D technology has once againcaught the attention of global consumers throughits collaboration with national Geographic toshowcase the world’s first 3D image gallery at thisyear’s iFa. after shooting, all six artists testified toLG optimus 3D’s excellent image quality whileeliminating the burden of heavy equipment andpraised it to be the 3D device of choice. JustinGuariglia, one of the participating photographers,mentioned that the technology is just amazing insuch a small device. Every photographer would loveto have the power of a great camera in a littlephone. this is clearly a step in that direction. if thedegree of convergence is not set correctly, usersmay experience dizziness due to the ‘crosstalkeffect’. LG has thus succeeded in preventing the‘crosstalk effect’ through an auto convergencetechnology. PRESS RELEASE

Abu Dhabi Group announceslaunch of mobile financial servicesKARACHI: in order to realise the potential ofbranchless banking, abu Dhabi Group (aDG) hasannounced the launch of an independent mobilefinancial services company. this venture willinitially harness Bank alfalah and Warid's synergyin this space and will also develop a branchless andelectronic eco-system comprising products andvalue proposition for merchants, businesses,consumers and the government sector. this ventureis being headed by ali abbas sikander who has vastexperience with other prominent internationalbanks and has led successful e-banking andbranchless banking projects in the past in Pakistanand abroad. PRESS RELEASE

Benazir Income SupportProgramme launches Benazir cardLAHORE: Benazir card has been launched inLahore, Rawalpindi, Faisalabad and DG khan forthe transparent and prompt delivery of themonthly cash grant to the beneficiaries of Benazirincome support Programme. this Benazir Card,will help the registered families of BisP for to get

the monthly cash grant from any atM or Bankeasily. this card is being provided free of cost tothe millions of BisP beneficiaries to ensure theirconvenience as well as transparency in paymentby replacing traditional postal services. shahid aslam Mohar Director General Punjabsaid that Benazir income support Programme ismaking the country a social welfare state andBenazir card is the milestone towards it. Underwhich a beneficiary family can get the benefits atdoorstep. Due to the transparency of thisprogramme, the international donors are givingfinancial support to BisP. PRESS RELEASE

Club Caramel and Samsunglaunch new song ‘Deewana’

LAHORE: Club Caramel, a Lahore based duocomprising of musicians adnan sarwar and kiranChaudhry launched their latest song 'Deewana', incollaboration with the samsung Galaxy series atthe World Fashion Café in Lahore. the premiereof 'Deewana' marked the bands' third originalrelease, Zindagi (March 2011) being the first andteray Bin (october 2011) the second. indeed,'Deewana' is an offset of Club Caramel andsamsung's collaboration in bringing a fresh soundto Modern Pakistani Pop Music - the song itself isavailable for download through Club Caramel'sofficial Facebook Page and also as a ringtone withall samsung Galaxy series Handsets. the eveningstarted with the Premiere of the video forDeewana, after which adnan sarwar and kiranChaudhry shared a few words on the concept oftheir song. samsung representative Farid Jalfurther spoke on the brands' direction withinmusic and their bid to encourage original and newmusic within Pakistan's music industry. the eventconcluded with an live unplugged session whereClub Caramel duo adnan and kiran performedtheir songs 'Zindagi' and their latest release'Deewana'. PRESS RELEASE

WISE College in collaboration withICM launches UK Bachelor programmeLAHORE: Launching ceremony of HEC andUk Govt recognised Bachelor (Hons)programme was held in a local hotel here. alarge number of renowned educationists,institute heads, political figures and studentswere present on the occasion. While

addressing to the people, Principal WisECollege Hamda tariq said that WisE Collegeis the pioneer institute in Pakistan offeringHEC recognised Uk Bachelor (Hons) inManagement studies and now students neednot to fly abroad for foreign degree programrather they can complete bachelor (Hons)level programme here at fraction of cost forthe first time. she also said that the mainobjective of this program is to providestudents with globally recognised professionalforeign qualification in their homeland ataffordable fee package so that they can secureplacement in the local as well as internationaljob market upon completion of this degreeprogramme. PRESS RELEASE

Muhammad Manzoor assumes chargeof MD Overseas Pakistanis FoundationISLAMABAD: Muhammad Manzoor PsPofficer of Grade-21 has assumed the charge ofManaging Director overseas PakistanisFoundation (oPF). Prior to assuming charge ofthe office of Managing Director, oPF, he wasworking as additional Director General,immigration Fia, Head Quarter islamabad. Heis a carrier officer and served in variousimportant positions in different departmentsthroughout country. He has vast experience inmanagement of organizations. after assumingthe charge, he expressed his intention to put anextra labour to contribute in improving theworking of oPF. He said oPF has a greatpotential to serve overseas Pakistanis moreeffectively in resolving their problems andextending welfare services to them. PRESS RELEASE

Mobilink torchbearersrenovate Pehli Kiran School

LAHORE: Mobilink torchbearers, the volunteerwing of the Mobilink Foundation, participated in arenovation of a JaQ trust’s Pehli kiran school inislamabad. the activity aimed at providing a safeand child-friendly environment in the school thatprovides education to children from the katchiabadis surrounding islamabad. Mobilinktorchbearers worked alongside students, teachersand community members to construct a wallaround the school to protect the children fromextreme weather conditions. in addition to therenovation, the torchbearers spent the engagingthe children with fun activities such as face-

painting, drawing and singing. the torchbearersalso utilized the opportunity to emphasize theimportance of education and its benefits for thechildren and the country as a whole. PRESS RELEASE

LEAD organises mainstreamingreproductive health in social development

LAHORE: LEaD Pakistan is non-profitorganization registered in 1995.Headquartered in islamabad, LEaD also has aproject office in sindh. in keeping with itsvision, inspiring Leadership for sustainabledevelopment, LEaD has established itself as aleader in research, capacity building, projectdevelopment and implementation in thedevelopment sector. LEaD has demonstratedcapacity to work with leaders from diversesectors to inform policy discourse anddecision making. LEaD has, over the years,convened hundreds of small group formal,semi-formal and informal meetings of keydecision makers to encourage free discourseand interaction. Leadership for Environmentand Development (LEaD) Pakistan haslaunched a new project “our World” – womenLeadership in Reproductive and Health(WLRDH), in collaboration with the Davidand Lucile Packard Foundation. the goal ofthe project is to assist in raising the profile ofReproductive Health (RH) in socialDevelopment sector by mainstreaming RHissues through public policy engagement andmedia. PRESS RELEASE

Warid launches TijaratKARACHI: Warid telecom (Pvt) Ltd, theinnovation leader, recently announced thelaunch of Warid tijarat. this excitingportal allows Warid users to buy and sellsimply through mobile phones. Waridtijarat helps bridge the gap between peoplewith similar interests by allowing them totrade their goods and services withsomeone in the same city. one can sell/buyproperty, cars, mobile phones, electronics,find jobs and join book clubs and even buytickets for local events and concertsthrough this portal. PRESS RELEASE

Index up 18 points asinvestors eye fresh boost

KARACHI

STAFF REPORT

T HE market remained in aholding pattern today as theksE-100 inched up a meager

18 points to close at 12,231points. investor activity reflecteda profit taking sentiment inscrips such as JsCL and FCCL,which had been recording stronggains in recent trading sessionsbut ended up retreating today.after a quiet couple of weeks, fer-tiliser newcomer FatiMa roaredback into action as it gained 2 percent from its previous close alongwith a solid 8mn traded sharevolume. For the banking sector,

nBP and MCB made the high-light reel as both stocks madepositive strides in today’s ses-sion. While volumes remainedover the 100mn mark, a decliningtrend was evident as the weekcame to a close, signaling that theexisting trigger effect has beenabsorbed and investors need afresh boost to remain active, saidali Hussain, senior investmentanalyst at HMFs. the ksE 30index closed at 11415.20 levels withthe gain of 10.43 points, while allshare index closed at 8504.74 lev-els after gaining 13.36 points. total10 scrips advanced 127 declinedand 71 remain unchanged out oftotal 306 scrips traded.

The India Show 2012 being put up todayLAHORE

IMRAN ADNAN

F EDERaL Minister forCommerce Makhdoomamin Fahim will inau-gurate the first ever sin-gle country exhibition

of indian products, the indiashow 2012 at Lahore Expo Cen-tre here today.

around 58 indian companiesare showcasing their products inthe india show 2012. indian ex-hibitors have imported millions ofdollars worth merchandise for theexhibition. Even Pakistani govern-ment has given special permissionfor the import of some productsthat are on the negative list. theindia show 2012 will remain openfrom February 11 to February 13.

according to the website of theindia show, products related toagriculture machinery and farmtechnologies; agro processing/ser-vices and inputs; all importantboards- tea, coffee, jute, coconut,spice, rubber, alternate medicines –ayurveda, unani, homeopathy, ap-parels, automobile components,bearing bicycle manufacturers,building materials and technolo-

gies, capital goods, chemicals andpetrochemicals, CnG kits, con-sumer durables, cosmetics, cottonand machinery, dairy machinery,edible oil, electrical and electronicgoods, FMCG products and serv-ices, fragrances, gems and jewellery,handicraft, healthcare equipment,heavy industrial sector; home appli-ances, information technology, in-frastructure (power, road, railways),inverters and batteries, iron, irriga-tion equipment, logistics, meat pro-cessing, medical tourism, mineraland mining, oil, paper/paper tech-nologies, pesticides, pharmaceuticalmachines, plastic technology, poly-ester, printing/bar-coding/packag-ing, printing machinery/largeformat printing machines, projectplanning and management, riceequipment, science and technology,seed companies, service sector, sta-tionery, stone/stone technolo-gies/mines, surgical equipment,technical education, textiles andtextile machinery, tourism, tyrecompanies, warehousing/coldchain/post harvesting, water filtra-tion systems, wires and cables, realestate developers, electric tandoors,fans and spices manufacturers.

import data shows that gem

and jewellery sector is leading theindia show 2012 as some 20 com-panies from this sector are partici-pating in the show. Figures showthat indian exhibitors have alreadyimported some $25 million worthgold and jewellery products for dis-play. some 110 stalls have been in-stalled. other important sectorsinclude, female clothing and cos-metic products as indian exhibitorsbelieve that these products havehuge demand in the Pakistani mar-ket. Federation of indian Chambersof Commerce and industries(FiCCi) in collaboration with theindian Ministry of Commerce andindustries and supported by com-merce ministry of Pakistan and theLahore Chamber of Commerce andindustry (LCCi) is organising theindia show 2011, to raise awarenessof indian products in Pakistan.

Goutam Ghosh, Head arab Di-vision Federation of indian Cham-ber of Commerce and industry(FiCCi) coordinating the indianCommerce, industry and textileMinister, anand sharma visit toPakistan said that they were expect-ing good response from Pakistanibuyers. “so far things are going welland huge crowd was expected in

the india show in three days activ-ity which would be closed in an im-pressive ceremony performed byanand sharma,” he said. the indiatrade show is the result of LCCi100-members delegation visitedindia and invited their counterpartsto Pakistan in December 2011.

the second important segmentof the india show is the CEos con-ference; as a big delegation ofaround 100 CEos of indian compa-nies are visiting Pakistan. “the veryobjective of CEos roundtable is tobring the businessmen of two coun-tries further close. it would be a sortof B2B between Pak-india busi-nessmen,” said LCCi President,irfan Qaiser sheikh. He said the in-dian delegation would also be holdB2B meetings in Lahore, islamabadand karachi other then participat-ing in the india show – singlecountry Expo in Lahore. LCCi ismainly arranging an inter-activesession of the businessmen of Pak-istan and india. LCCi former seniorvice President and Convener Pak-india trade promotion standingCommittee aftab ahmad vohrasaid the Expo would increase vol-ume of the legal bilateral trade be-tween Pakistan and india.

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