Strong post-war growth potential opportunity for Pak investors

Islamabad: (July 06 )--Rishad Bathiudeen, Minister for Industries and Commerce of Sri Lanka on Wednesday said his country aims to boost economic, trade and commercial ties with a genuine friend like Pakistan.

He said that Sri Lanka is Pakistan’s biggest trading partner in Saarc outside India and we share common perceptions on many regional and global issues.

Speaking to business community at FPCCI, Capital Office, Bathiudeen said that the current bilateral trade volume stands at $338 million which can be increased with the help of private sector.

He said that balance of trade has always been in favour of Pakistan which is contributing to economic development of a brotherly country.

Sri Lankan High Commissioner to Pakistan Jayalath Weerakkody, Raza Khan, Chairman Coordination, FPCCI, Hameed Akhtar Chadda, VP, ICCI, Tauseef Zaman, Shahid ur Rehman, government officials as well as businessmen of both countries were also present on the occasion.

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FPCCI’s dispute resolution initiative to bring in heavy investments: BHC

Islamabad: British High Commissioner to Pakistan Adam Thomson on Tuesday said that his country is trying best to help Pakistan get access to EU market which is a critical issue.

We are trying to get EU trade concession of GSP Plus for Pakistan to get more Pakistani products would be introduced in Europe.

Talking to a high-profile delegation that included VP Saarc CCI Iftikhar Ali Malik, VP FPCCI Amir Atta Bajwa, Chairman FPCCI, Capital Office, Hameed Akhtar Chadda,

SVC, FPCCI Kanwar Qutbuddin and Chairman Media Malik Sohail, he said that he has been given task to double bilateral trade in four years.  

For this we need to thicken political relations, improve people-to-people contacts and invite British businessmen to invest in Pakistan, he said.

Adam Thomson said that Pakistan has easiest business environment in region but UK’s SME sector is still reluctant to invest here which will be only possible if local business community extend cooperation.

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Master Plan for rural electrification through renewable energy demanded

The Pakistan Economy Watch (PEW) on Sunday said that alternative forms of energy are becoming more cost-competitive with conventional fuels therefore government should accelerate the pace of its development.

Energy crisis is greatest bottleneck in the supply of resources to our economy; it is biggest problem than terrorism, said Dr. Murtaza Mughal, President PEW.

He said that some areas will have to brave 23-hour load shedding by 2020 if development of energy resources was not given proper attention.

He said that industrial development, commercial activities, population growth and inefficiency are main causes for the crisis while the rising costs of fossil fuels coupled with volatility has made alternatives more attractive.

Moreover, construction costs of oil, gas, coal and nuclear power plants have jumped by 80 per cent in five years which calls for investing in renewable energy, he said adding that we need to realise that economics of traditional fuels are changing.

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Pakistan’s future tied to China: Raza Khan

Raza Khan, Chairman Coordination, FPCCI on Sunday said that Pakistan’s best friend China emerged triumphant from financial crisis that has jolted world’s leading economies which proves the vision of Chinese leadership.

He said that future of whole world and that of Pakistan is tied to China which is poised to become world’s number one economic power soon.

Deep perception of the situation of the Chinese leadership kept the country safe at a time when almost all countries were grappling to cope with financial meltdown, he said while talking to Baluchistan Minister for Inter-Provincial Coordination Dr. Ruquia Saeed Hashmi.

The business leader said that China has maintained an average growth rate of 9.7 per cent in last three difficult years while it average growth in last three decades stands at 10 per cent which indicate that developing nations including Pakistan can learn a lot from this friendly nation.

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FPCCI kicks off campaign to forge stronger ties with business chambers

Islamabad: The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has launched a campaign to improve liaison with different chambers of commerce in Industry to create synergies. 

The linkages and inter-group communications needs to be improved between FPCCI and different chambers which is prerequisite for unity to get rights, said Amir Atta Bajwa, VP, FPCCI while speaking to business community, here Friday.

He said that we can strengthen business community with the help of oneness which is imperative for the survival of businesses.

Bajwa said that he will personally visit all chambers, with special focus on the neglected ones to unite business community which will pave way for resolution of issues to the satisfaction of all stakeholders.

Unveiling details of the plan, he informed that another meeting is scheduled at Lahore where representatives of all the trade associations would assemble to chalk our strategy.

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Women enterprisers will be provided more opportunities: Senator Ghulam Ali

President Federation of Pakistan Chambers of Commerce and Industry (FPCCI), Senator Haji Ghulam Ali on Thursday said women entrepreneurs have been given more opportunities to excel.

He said that he will facilitate meeting of Islamabad Women's Chamber of Commerce and Industry (IWCCI) with Prime Minister and President who are very concerned about welfare and development of 52 per cent of the population of Pakistan.

Speaking at a reception hosted in his honour by Samina Fazil, President IWCCI, Haji Ghulam Ali said that government has provided Rs 60 billion to BISP for social welfare; it can also help business women by providing interest-free loans.

He said that FPCCI will promote women entrepreneurs, boost their presence in business delegations and arrange women-specific tours to foreign countries so that they can have exposure and enhanced trade opportunities.

The FPCCI President who was on his first-ever visit to any women’s chamber, also assured women of provision of a plot for Chambers building and grant from TDAP.

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FPCCI, Saarc CCI want Trade Organisations Ordinance 2007 annulled

Islamabad: Federation of Pakistan Chambers of Commerce and Industry (FPCCI) and Saarc Chamber of Commerce and Industry (Saarc CCI) has demanded of the government to overturn Trade Organisations Ordinance 2007 and reintroduce Trade Organisations Act 1961 after necessary amendments.

The Ordinance enacted on June 5, 2007 hasn’t been approved by the National Assembly is it not serving economy, business community or nation, said Senator Haji Ghulam Ali, President FPCCI.

Speaking at a reception hosted in honour in Federal Minister for Law, Justice and Parliamentary Affairs, Moula Baksh Chandio, he said that economic growth is difficult unless laws governing the businesses are altered to suit the needs of business community.

Senator Ghulam Ali said that the role of regulators needs to be strengthened to guarantee enabling environment for business community which is in the national interest.

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Japan Co looks for CAS acess through Pakistan pvt sector

Dated: June 19

Islamabad: A Japanese multinational has initiated plans to explore central Asian market with the help of private sector of Pakistan.

Nippon Paint which is in business since 120 years stepped into Pakistani market on 5th of November 2007. Success in Pakistani market encouraged them to explore Afghanistan and now they are eyeing lucrative market in Central Asia with the help of Pakistani business community.

“We are the largest paint manufacturer in Asia, our estimates suggest that we will be No.1 in Pakistan within months, the situation demands that we expand into central Asia,” said Syed Samad Zaheer, General Manager, Pakistan, Nippon Paint.

Talking to reporters, he said that he has come to fine-tune the details of business arrangement for central Asia, adding that that we are very encouraged through response of customers in Pakistan and Afghanistan.

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FPCCI demands steel mill in Kalabagh

Islamabad: (June 19)

Chairman Coordination, FPCCI Raza Khan on Sunday said Kalabagh merits having a big steel mill as the area has significant iron ore deposits.

Government has long been neglecting exploiting ten thousand million tonnes of proven deposits since a decade which is not in the national interest, he said.

Kalabagh can be home of the second largest steel mill which will not only boost economy but also provide jobs to thousands of people living in that underdeveloped area, he said.

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Economic Empowerment: FWBL signs MoU with Women’s Chamber

Islamabad: Shafqat Sultana, President, First Women Bank Limited (FWBL) on Wednesday said that the institution will continue to strive for economic empowerment of women by employing all available resources to enhance their capacity.

FWBL has initiated many training courses for entrepreneurial capacity-building and skill development so that women are mainstreamed in all economic sectors and become a visible and productive part of the economy, she said.

Shafqat Sultana said this while speaking to women entrepreneurs after signing a MOU with Samina Fazil, President, Islamabad Women's Chamber of Commerce and Industry (IWCCI).

She said that we have long been working with IWCCI but now we have formally become partners. We will impart training and provide guidance to women in banking, accounts, products, import and export and other commercial activities with a renewed vigour, she said.

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100-member FPCCI delegation to visit Uzbekistan

Islamabad: June 15

Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has decided to take a 100-member delegation comprising leading industrialists and traders to Uzbekistan to boost trade and investment ties between two brotherly countries.

The delegation will represent business community of all four provinces, Gilgit Baltistan, Fata and Pata.

This decision was taken after a meeting between President FPCCI Senator Haji Ghulam Ali and Ambassador of the Republic of Uzbekistan to Pakistan Oybek Arif Usmanov at FPCCI Capital Office.

Deputy Head of Mission Asmatullah Fiazullah, Raza Khan, Chairman Coordination, FPCCI. Chairman Media Malik Sohail and others were also present on the occasion.

At the occasion, Ghulam Ali who is also Vice President Islamic Chamber of Commerce, said that he forging brotherly ties with all Muslim countries, especially Central Asian States is his mission.

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Pak Business community can help contain terror: Lankan HC

Islamabad: High Commissioner of the Democratic Republic of Sri Lanka Jayalath Weerakkody on Tuesday said business community of Pakistan can play an important role in containing terror as it is also linked to the overall economic situation.

He said his country has faced sectarianism and terrorism for decades and we can share expertise with Pakistan to help combat terror. “My country is ready to do anything to ensure stability in Pakistan.”

He was talking to a delegation of FPCCI that included SVC Diplomatic Affairs FPCCI Kanwar Qutbuddin, Chairman Media and PR, FPCCI Malik Sohail, President Women’s Chamber Samina Fazil, Adnan Mirza and leading exporter Kulsoom Khan.

Air Chief Marshal (retd) Jayalath Weerakkody RWP, VSV, USP informed that a delegation led by a Cabinet Minister is due in Islamabad soon to hold a Joint Economic Commission meeting with local authorities.

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Mounting US debt 'threatens' Saudi investment: Experts

By Arab News, Jeddah, Saudi Arabia

June 10--JEDDAH -- Economists have warned Saudi investors that mounting US debt and a weakening dollar is putting at risk a traditional safe haven for investment: UStreasury bonds, which make up 70 percent of Saudi investment in the US.

Economists told Al-Eqtisadiah, a sister publication of Arab News, they believed that the hegemony of the US dollar in the world economy would not last long in light of $8 trillion in US debt.

Financial expert Raja Al-Marzouki said the declining US dollar would have a negative impact on Saudi investments abroad.

"As a result all investments and deposits would diminish, affecting Saudis' income, purchasing power and profitability," he said, predicting the decline of the dollar would continue. "Saudi investors must be aware of the danger posed by investing in a single currency."

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SC asked to probe petro shortages

 Islamabad: [June 12]

The Pakistan Economy Watch (PEW) on Sunday asked to Supreme Court to intervene in the issue of petroleum shortages across the country and bring culprits to justice.

It also sought the resignation of Minister for Petroleum Dr. Asim Hussain whose ‘revolutionary measures’ have backfired at a time he was abroad.

Oil and Gas Regulatory Authority should also share blame for its incompetence which has allowed oil mafia to play mayhem with the masses, said Dr.Murtaza Mughal, President PEW.

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Saarc CCI vows to promote regional trade, peace

Islamabad: South Asian Association for Regional Cooperation (SAARC) on Friday vowed to play more active role in promoting trade, peace and development in the region aimed at political stability.

Governments and business community must utilise the Saarc Chambers’ Forum to develop cordial relations between the member states, said Iftikhar Ali Malik, Vice President Saarc Chamber of Commerce and Industry.

Malik said this while speaking at a reception hosted by SAARC Chamber in honour of Rajinder Kumar Sharma, outgoing Commercial Counsellor of Indian High Commission and his successor Arvind Saxena.

He lauded the initiative of Pakistan and India to ease visa restrictions saying it will help break the logjam to further expand bilateral relations at the people-to-people level.

Malik further said that Pakistani business community will continue to strive to further strengthen its special and cordial relations with all Saarc countries to boost economic and trade activities in the region.

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Pakistan-China Business Forum inaugurated in Kunming

Mr. Tariq Sayeed, Vice President Confederation of Asia Pacific Chambers of Commerce & Industry (CACCI) inaugurated Pakistan-China Business Forum at Kunming city of Yunnan Province , China . The Forum was organized by Trade Development Authority of Pakistan with assistance ofConsulate General of Pakistan in China , which aimed at further promoting economic ties between two friendly nations.

In his inaugural speech Mr. Sayeed identified enormous areas of mutual cooperation and particularly insisted upon the Government and thePrivate Sector of China to consider investment in Pakistan through joint ventures. He reiterated the need for relocation of Chinese industries to Pakistan while arguing that it would help create job opportunities and enable these units to create surplus for re-exporting to China as a remedy to bridge chronic trade deficit of Pakistan in trade with China .

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Women purposely kept backward: PEW

Islamabad: [June 08]

Dr. Murtaza Mughal, President the Pakistan Economy Watch (PEW) on Wednesday said that women in Pakistan are intentionally kept backward for systemic subordination.

Budget has offered nothing to women entrepreneurs as no step has been taken to improve quality of life of women involved in micro or large businesses, he said.

Talking to Dr. Shehla Javed Akram, Vice President FPCCI, Fazal Elahi, VP FPCCI, Hameed Akhtar Chadda, Chairman FPCCI Capital Office and Malik Sohail Hussain, Chairman Media FPCCI and others, he said that ministries for women development have confused mandate which is not helping women entrepreneurs.

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Budget not as per expectations: VP FPCCI

Islamabad: [June 04]

Vice President Federation of Pakistan Chamber of Commerce and Industry (FPCCI) Fazal Elahi on Saturday said budget is not as per the expectations of the business community but it offers some hope.

He welcomed the announcement of adding 2.3 million people to the tax net saying that if materialised, it will resolve many problems. It is not a difficult task as we have four million commercial electricity connections and millions of commercial gas connections in the country.

Fazal Elahi said that issue of energy outages has not been given due attention which will result in missed collection and export targets and add to unemployment. 

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Pakistan Government, Local Media Owners, Courts Also Responsible For Troubles of Journalists

I got mixed response from my earlier mail titled “Foreign Media Also Responsible For Deaths of Pakistani Journalists.”

Majority blamed me for an agent of ISI and establishment but some appreciated it. Many were supportive of truth, liberty, freedom of expression and other nice slogans without realising ground realities and consequences in a police state like Pakistan.

All of the non-journalists bashed me for writing this piece, as they have nothing on stake. They want others to fight for them, pay for it, while they keep themselves away and safe.

Other sections of society should also risk their lives for betterment of society.

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Women entrepreneurs demand incentives, tax breaks

Islamabad: Women entrepreneurs on Friday demanded incentives and tax breaks in the national budget saying that the progress can be achieved by providing equal opportunities to the 52 per cent of the population.

Allocation for development of women should be satisfactory while fiscal policies should help reduce poverty level of women, said Samina Fazil, President, Islamabad Women's Chamber of Commerce and Industry (IWCCI).

Speaking at a meeting at FPCCI Capital office, she said that effective use of public resources can result in desired economic development.

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