Thursday, 31 January, 2013

ISLAMABAD

APP

THE United States isstrengthening Pakistan’s en-ergy sector and helping toend energy shortages, said astatement issued by the

USAID on Wednesday. In this effort, the US Agency for In-

ternational Development (USAID)Power Distribution Program’s Ewa Sza-jner was on hand to support the inaugu-ration of a computer center at thePeshawar Electric Supply Company(PESCO). The PESCO CEO and Boardof Directors Chairman were also presentat the inauguration with senior manage-ment from the USAID Power Distribu-tion Program.

“Supporting the government of Pak-istan’s efforts to improve the perform-ance of the energy sector is one of ourtop assistance priorities,” said PowerDistribution Program Chief of PartyCraig VanDevelde. The aim of establish-ing the computer center is to modernisethe Planning and Engineering (P&E)

sectors of government-owned power dis-tribution companies (DISCOs), improv-ing energy distribution across Pakistan.

“I am confident that, through this ef-fort, PESCO will be better able to effica-ciously supply electricity to consumersin Peshawar and surrounding areas,”VanDevelde added. USAID has estab-lished similar computer centers at the

Islamabad Electric Supply Company,Faisalabad Electric Supply Company,Lahore Electric Supply Company andGujranwala Electric Power Company.

USAID also provides training for en-gineers and technicians from all nine DIS-COs and is introducing international bestpractices for public utility management.

This initiative to equip Pakistan’s

power distribution companies withmodern technology and training thehuman resource is just one part of acomprehensive United States’ energy as-sistance program which includes reno-vating the power plant at the TarbelaDam, upgrading the Guddu, Jamshoro,and Muzafaragarh power plants, andcompleting the construction of the newSatpara and Gomal Zam dams. To-gether, these large-scale energy projectswill add up to 900 MW to the power gridby 2013-enough power to supply elec-tricity to an estimated two millionhouseholds. The five year USAID PowerDistribution Program was announced bySecretary of State Hillary Clinton in2009 as being among the United States’efforts to support the government ofPakistan to reform its power sector tomitigate the current energy shortfall.

The Program is helping government-owned DISCOs improve their commer-cial performance by reducing losses,increasing revenues and improving cus-tomer services through the introductionof new technology and improved workpractices.

USAID to strengthen energy sector

ISLAMABAD

sTAFF RePORT

According to latest figures of the Di-rectorate General of Commercial In-telligence and Statistics, Ministry ofCommerce & Industry (MoCI), Gov-ernment of India, Pakistan’s exportsto India between April-December2012 show a growth of 66% over thesame period in 2011, while India’s ex-ports to Pakistan grew by 16% inApril-December 2012. Pakistan’s ex-ports to India in the nine months of2012 stood at $ 460 million, which ismuch more than $ 277 million duringApril-December 2011 and is also morethan the value of Pakistan’s exports toIndia ($ 401 million) in the entire pre-vious year (April 2011-March 2012).

The growth of $ 183 million in Pak-istan’s exports to India during April-December 2012 is more than theincrease of about $ 170 million in itsimports from India in the same pe-riod. MoCI figures also indicate thatthe share of Pakistan’s exports in bi-lateral trade with India has almostdoubled since 2009-10.

The impressive increase in Pak-istan’s exports during April-December2012 reflects the benefits of the stepstaken to enhance bilateral trade, and im-provement of trade environment, aidedby SAFTA tariff reductions. In order toaddress concerns of Pakistan’s ex-porters, the two countries had alsosigned three agreements in 2012 inareas of customs cooperation, mutualrecognition of standards and redressal

of trade grievances. A number of tradeorganisations in both countries havepromoted, especially in 2012, greater ex-change of trade and business delega-

tions between India and Pakistan. Lib-eralised visa provisions pertaining tobusiness persons will further facilitatesuch exchanges.

Pakistan’s exports to India grew faster than imports from India

Unscheduledoutages affectingindustry, exports:stakeholders

HYDERABAD

APP

Unscheduled load shedding of electricityis affecting industrial productivity as wellas export orders commitment. Anjuman-e-Tajran-e-Hyderabad Presi-dent Saleem Vohra, Electronic Associa-tion President Ikram Guddu,Tajran-e-Latifabad President AslamShaikh Muhammad Younus and otherssaid on Wednesday that the process ofmanufacturing of various export itemstakes a long time and requires smoothpower supply.They said electricity load sheddingcauses huge losses to manufacturers andalso renders the timely completion of ex-port orders difficult.They further pointed out that many fac-tories located in Hyderabad SITE areaswere facing 8 to 10 hours of continuousload shedding and their business wasbeing affected as a result.They also urged the HESCO authoritiesto minimise the load shedding processthrough proper planning and appropriateload management so that industrial man-ufacturing activity is not disrupted.

ZTBL provides finance

for 908 tractorsISLAMABAD

APP

Zarai Taraqiati Bank Limited (ZTBL) hasprovided financial assistance for pur-chasing over 908 tractors to growersacross the country to mechanise agri-farming and to enhance per acre yield tofulfill the domestic and export require-ments.An official of ZTBL said that out of thetotal financed tractors by the bank dur-ing the year 2011, 884 tractors were dis-tributed in Punjab Province, three inSindh and 18 in Khyber Pukhtunkhwa.He said Balochistan, Azad Kahsmir andGilgit Baltistan farmers were also pro-vided tractor financing to increase yieldoutput to alleviate poverty from thecountry. He said Rs 58,066.4 millionwas disbursed among small farmersacross the country to fulfill their creditrequirements, adding that Rs. 48,381.144million was provided to small scale grow-ers in Punjab and Rs. 5,541.235 millionfor farmers in Sindh.

ISLAMABAD

APP

Palm oil imports witnessed sharp de-cline of 18.92 percent during the firsthalf of the current fiscal year asagainst the same period last year.

Pakistan imported palm oil worth$1.024 billion during July-December(2012-13) against the imports of$1.263 billion in July-November(2011-12), according to the data ofPakistan Bureau of Statistics (PBS).

In terms of quantity, the palm oilimports witnessed negative growth of6.58 percent by falling from imports of1,205,182 metric tons last year to1,032,473 metric tons during the pe-riod under review.

In rupees term the palm oil im-ports during July-November (2012-13)stood at Rs 97,562 million against theimports of Rs 110,182 during the sameperiod of last year, showing negativegrowth of 11.45%.

During the month of December2012, palm oil imports witnessed de-crease of 29.44% and 6.38% againstthe imports in December 2011 and No-vember 2012 respectively, the data re-vealed.

On the other hand, the imports ofsoyabean oil witnessed increase of26.47 percent during the first six

months of the current fiscal year.The soyabean imports were

recorded at $44.241 million in July-December (2012-13) against the im-ports of $34.981 million during thesame period of last year, the PBS datarevealed.

In terms of quantity, the soyabeanoil imports increased from 26,625metric tons to 34,381 metric tons, wit-nessing increase of 29.13 percent.

In rupees term, the soyabean oilimports witnessed increase of 37.67percent by going up from imports ofRs 3,042 million last year to Rs 4,188million during the current year.

During the month of December2012, soyabean imports decreased by93.15% and 95.23% as compared tothe imports of December 2011 and No-vember 2012 respectively.

It is pertinent to mention here thatthe overall food imports into the coun-try witnessed decline of 17.49 percentby falling from $2.614 billion last yearto $2.157 billion this year.

The overall imports into thecounty during July-December (2012-13) decreased by 3.33 percentwhereas the exports increased by 7.58percent as compared to the same pe-riod last year.

Yen slips on Japan

finance minister’s

commentsTOKYO

Agencies

The yenslipped fur-

ther onWednesday

after Japan’s fi-nance minis-ter issued astern denialover claimsthat Tokyo

was manipu-lating theunit, as

traderskeep an eyeon a Fedmeeting

that wraps uplater in the day.

In morning Tokyo trade, the dollargained to 90.97 yen, from 90.72 yen inNew York on Tuesday, while the eurofetched 122.75 yen, from 122.42 yen.The single currency also bought$1.3491 from $1.3493.Japan’s currency resumed its months-long slide as Finance Minister TaroAso said the unit was in a “correctionphase” after soaring to record highsaround 75 to the dollar in late 2011.“The comment is nothing new so itcan’t push up the (dollar/yen) pair like a rocket any-more, but it still has some power left,”a senior dealer at a major bank inTokyo said.On Tuesday Japan’s economic revitali-sation minister Akira Amari said the currency’s slide was aproduct of Japan’s new governmenttrying to boost the deflation-plaguedeconomy with big spending and apressure campaign on the Bank ofJapan for aggressive easing.That has stoked criticism-includingfrom German Chancellor AngelaMerkel and Organisation for Eco-nomic Cooperation and Development(OECD) chief Angel Gurria- thatTokyo is manipulating its exchangerate policy.Forex markets were looking to the UScentral bank as it wraps up a two-daymeeting later in the day, hoping formore clues to the state of the econ-omy.While no major new decisions are ex-pected, the meeting is its first sinceDecember when the Fed expanded itsbond-buying programme and set ex-plicit unemployment and inflation tar-gets for raising interest rates.Notes from that meeting showed in-creasing concerns over inflation, soanalysts will be looking for any nu-ance on its view of the state of theworld’s biggest economy.Data out of the US on Tuesday showedconsumer confidence was weaker thanexpected but prices continue to re-cover in the battered housing market.

Palm oil imports fall 18.92 percent

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Hashoo group relaunches its

brunch at Marco polo

KARACHI: To provide families with an op-portunity to have brunch, Pearl ContinentalKarachi of Hashoo group, re-launched itsbrunch at Marco polo, amid a graceful cere-mony, here on Sunday. Aero Asia International(Pvt) Ltd president Farrakh Nawaz Chughtaiinaugurated the restaurant through ribboncutting, while crème de la crème of the mega-lopolis, besides several prominent politicaland business tycoons attended the ceremony.Speaking on the occasion, chief guest of theceremony, Chughtai praised the initiative andtermed it a facility for the Karqachities. Hesaid that Aero Asia and PC had a long lastingaffiliation and hoped that the relations wouldfurther enhance. Talking about Aero Asia, hesaid that re-launch of Aero Asia was also inprogress. He hoped that the airline would befunctional in very next month of February. Hefurther said that Pakistan has massive poten-tial for airline industry and recently a studyhad also revealed that Asia reign would play asignificant role in boom of aviation sector incoming future. Renowned figure of politicalarena of the country Shaikh Rasheed alsograced the event with his presence. He alsopraised the initiative taken by PC. Talkingabout the ongoing situations and future op-tions for the metropolis, he said that natureblessed Karachi with a number of blessings.The city has a rich culture, potential for indus-try and businesses of all kinds. The only draw-back of the city was deteriorating law andorder situation, which should be addressed onwar footing and concrete basis. PC KarachiGM Azeem Qureashi, while expressing hisviews, said brunch itself was a family time.People, particularly in Karachi usually preferbrunch on Sundays. To facilitate Karachities,PC offers them a brunch with a freedom of cul-ture, colors and food which is an amalgamat-ing venture. He said at brunch we madeprovide a taste of all on one plate at Marco

polo. Besides this a complimentary dip atswimming pool was also a part of the venture,he added. PR

Bank Alfalah chooses Wateen

for connectivity of 75 branches

LAHoRe: Pakistan’s leading converged com-munications service provider, Wateen Telecom,has been chosen by Bank Alfalah after a strin-gent vendor evaluation process for providingFiber & Radio deployment to establish Data-VPN link for 75 branches and aggregation sites.Wateen is a preferred partner for broadbandconnectivity and related solutions for Bank Al-falah and over 200 leading companies in thecountry. Wateen offers organizations supportfor planning, implementation and managementof their network and is a gold partner for Cisco.Wateen has always maintained exceptional levelof customer service for both enterprise cus-tomers and the general consumer. Mr. NaeemZamindar, CEO Wateen Telecom, in a messageto the employees stated, “This achievement isfurther recognition of Wateen’s focus on cus-tomer centricity and keeping our customers atthe center of our thought process while dealingwith all environmental and economic chal-lenges. PR

Intel Announces National

Science Fair Winners

Intel Pakistan today concluded its national sci-ence competition by announcing the winners ofthe Intel National Science Fair who will representPakistan at the Intel International Science & En-gineering Fair (ISEF) 2013, to be held in Phoenix,Arizona, USA from May 12th to 17th.WInneRS GRoup pRojeCTS:Fatima MoinVeera, Hania Hasan, Umme Salma ShabbirGadriwala-Mama Parsi Girls Secondary School,Karachi Qaiser Ali Shah, Ali Yezdan, Sajid Khan-AghaKhan Higher Secondary School, Gilgit.WInneRS IndIvIduAL pRojeCTS:

Javaria Nisar - Government Girls Higher Second-ary School Singhpura, Lahore Haris Bin Ashraf - Defense Authority SheikhKhalifa Bin Zaid College, Karachi Isa Bin Qasim - PakTurk International Schooland Colleges, Peshawar, Muhammad AhsanNawaz - Government Model High School, Mailsi,Vehari. PR

Salma Bibi – picking

up the threads of life

A 58 year old resident of Mastoi Colony, D.G.Khan, Salma Bibi is a perfect example of the tri-umph of the human spirit even in the face of ex-treme difficulty and tragedy. Through herdetermination to provide a better life for herselfand her children, this dynamic woman used herbusiness acumen and with the help of Khushhal-ibank’s microloan facility, now single handedlyearns a livelihood for her family, and also sup-ports women in the local community by havingemployed them. After the untimely death of herhusband, Salma Bibi found herself in a terriblesituation: she had absolutely no financial supportand six mouths to feed. Even her close relativeschose to ignore her pleas for help and left heralone. However, rather than play the victim, shechose to gather her courage for a greater purpose.Having heard about Khushhalibank, she ap-proached them for their microfinance loanscheme in 2003. With the help of a loan of Rs.10,000, she started a small business from herhome: an embroidery and cloth house. At thetime, she had to sacrifice her children’s educationso that they could help participate in her business.Her monthly income at the time was a mere Rs.2,000. However, after she got the loan, her profitskept on increasing and now her monthly incomestands at Rs. 18,000. The loan from Khushhal-ibank gave her the kick-start she needed at thetime, and now she stands proud, having providedfor the higher education of her six children,and also having borne all the expenses for theirmarriages. PR

Samsung introduces GALAXY

Xcover 2 smartphone

KARACHI: SamsungElectronics Co., Ltd,today unveiled theSamsung Xcover 2,the ideal smartphonefor active explorerswho are enjoying out-door lifestyles andseeking a durable mo-bile device with es-sential smartphonecapabilities. TheGALAXY Xcover 2 isoptimized to endureagainst the mostrugged outdoor condi-tions, whether you’reat work or play. Pro-tected against the ele-

ments, it is dust and sand proof. It’s even waterresistant to a depth of one meter for up to 30minutes (IP67 Certified). You can now take pho-tos under water with the direct camera key, holdon tight to your device with the strap holder andnot worry about dropping your phone as the bat-tery cover lock gives added protection. Pre-downloaded Google map data, an enhanced GPS+ GLONASS which shortens the satellite signaldetection by up to 20% to tracks your locationmore accurately, LED Flash next to the camerawhich can be used like a torch and a huge batterycapacity of 570 hours(1,700mAh), making theGALAXY Xcover 2 is the best possible smart-phone partner for outdoor exploration. In addi-tion, the Cardio Trainer Pro workout applicationwill also help you achieve your fitness goals bycreating a tailored training program, checkingyour progress and recording your track andspeed. For everyday, users can expect the power-ful performance characteristic of a Samsungsmartphone with the robust GALAXY Xcover 2shell. Its vivid 4.0” (100.8mm) WVGA displayprovides a clear and wide viewing experience, a 5-megapixel camera and VGA front camera that willlet you record precious moments in high resolu-tion, Bluetooth® v 4.0 gives a better connectionthat consumes less power and detects devices 50meters away. An impressive 1GHz dual coreprocessor powers the core of the GALAXY Xcover2, which ensures a fast operating speed for seam-less multitasking, faster webpage loading andsofter UI transitions. PR

CORPORATE CORNER

BusinessThursday, 31 January, 2013

Photo Walk organised by Nikon Pakistan (Camtronx) at

Lahore Fort. The walk was attended by CEO Camtronx

Nasir Saeed along with photography experts Ali Mohsin

Gardezi, Irfan Ahson, Usman Hayat, Aamir Amjad and Asif

Sherazi along with other participants

Ufone President and CEO Abdul Aziz along with Senior Management at the cake cutting ceremony on Ufone’s

12th anniversary at the Ufone Tower in Islamabad.

Fish exports post

2.64 percent

growth in first halfISLAMABAD

APP

Fish and fish preparations exports fromthe country during the first half of currentfinancial year recorded a growth of 2.64percent as compared to the same periodlast year. During the first two quarters ofthe current financial year about 70,675metric tons of fish and fish preparationsworth $156.92 million were exportedagainst the 58,104 metric tons valuing152.88 million of the same period lastyear. According to data from the PakistanBureau of Statistics (PBS), the export offish and fish products increased by 12.24percent on a month-on-month basis.The data revealed that fish and fish prepa-rations exports during the month of De-cember 2011 was recorded at 9,819 metrictons, costing $ 27.200 million.From July-December, 2012 the meat andmeat preparations exports also went up by43.74 percent as about 35,901 metric tonsof the products worth $ 120.78 millionwere exported.The exports of meat and meat prepara-tions during the same period of last yearwere recorded at 27,007 metric tons worth$ 84.03 million, the data revealed. The meat and meat preparations exportsduring the month of December, 2012 alsoincreased by 45.8 percent as compared tothe same month of last financial year.During the month of December, 2012 thecountry earned $ 18.54 million by export-ing 5,737 metric tons of meat and meatproducts which was recorded at 4,227metric tons valuing $ 12.07 million duringthe month of December, 2011.In first half of current financial year theexports of other food commodities in-creased by 17.31 percent as compared tothe same period of last financial year.

KARAcHI

sTAFF RePORT

SINDH Board of Investment (SBI)Chairman Muhammad ZubairMotiwala said the Asian Develop-ment Bank (ADB) is in the finalstages to complete the transac-

tion structuring and advisory services for amega infrastructure development at theKarachi Port. ADB is now in discussion withthe Government of Sindh and its economicmanagement team to identify rural based eco-nomic growth projects to augment andstrengthen the mega infrastructure develop-ment to be undertaken at Karachi Port, hesaid while presiding over a meeting with ADBPrincipal Public Management SpecialistYesim Elhan at his office. ADB team visitedSBI in order to formulate its framework for2014 and to identify vital infrastructure anddevelopment projects based on the ruraleconomy for which the bank will provide proj-ect development, transaction advisory andtransaction structuring services in the PublicPrivate Partnership mode. SBI Chairmanhighlighted various projects based on the

rural economy which have been conceived bythe Government of Sindh. The ADB teamshowed great interest in these projects whichcarry immense importance in terms of ruralgrowth and economic uplift.

The ADB team will revert to SBI to developthese projects under PPP mode. On the occa-sion, the Sindh Enterprise Development Fund(SEDF) CEO gave a briefing about the SEDF.He said in SEDF Small and Medium Enter-prises are given subsidy on loan by banks fortheir projects, where the KIBOR part of theloan is paid by the government, which hashelped stimulate the micro economy.

“Sindh Government is also enthusiasti-cally pursuing Khairpur Special EconomicZone for supporting the local industries espe-cially dates processing, storage and packag-ing, which is the main crop of Khairpur.Technical training on modern lines, researchareas and financial frameworks are the areaswhere ADB assistance is a must,” he said. TheADB team highly appreciated the effortsbeing taken by the government for improve-ment in development process and assuredADB’s further assistance and continued sup-port to the cause of Sindh.

ADB shows great interestin mega projects in Sindh

Major Gainers

COMPANY OPEN HIGH LOW CLOSE CHANGE TURNOVERNestle Pakistan Ltd. 4693.75 4928.43 4900.00 4928.43 234.68 5,920MithchellsFruit 321.00 334.00 334.00 334.00 13.00 200Sitara Chemical 174.65 183.37 175.00 182.77 8.12 19,200Gatron Ind. 185.00 192.50 185.00 192.50 7.50 2,000Philip Morris Pak. 135.60 142.38 141.99 142.38 6.78 4,600

Major LosersBata (Pak) 1385.00 1450.00 1350.00 1350.00 -35.00 250Siemens Pakistan XD 640.00 620.00 608.00 620.00 -20.00 650Shezan Inter. 450.94 450.00 440.00 440.00 -10.94 800Indus Dyeing 677.60 673.00 643.75 670.20 -7.40 600Khyber Tobacco 105.00 99.75 99.75 99.75 -5.25 500

Volume Leaders

Telecard Limited 3.43 4.20 3.50 4.02 0.59 43,025,000Jah.Sidd. Co. 16.00 16.95 16.06 16.76 0.76 21,849,000P.T.C.L.A 17.72 18.72 17.75 18.72 1.00 21,163,500NIB Bank Limited 2.42 2.71 2.45 2.67 0.25 20,678,500WorldCall Telecom 2.65 2.96 2.69 2.92 0.27 14,378,500

Interbank RatesUSD PKR 97.6910GBP PKR 153.8536JPY PKR 1.0694EURO PKR 132.1467

Dollar EastBUY SELL

US Dollar 98.40 99.10 Euro 132.66 134.90Great Britain Pound 154.40 156.97 Japanese Yen 1.0701 1.0872 Canadian Dollar 97.11 99.37Hong Kong Dollar 12.49 12.77 UAE Dirham 26.70 27.10 Saudi Riyal 26.20 26.54

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