Category Archives: General Business News

PTCL enters into Enterprise Class Infrastructure Solutions Provider Agreement with Dell EMC

Islamabad, September 14, 2018 (PPI-OT): Pakistan Telecommunications Company Limited (PTCL) has entered into an Enterprise Class Infrastructure Solutions Provider agreement with Dell EMC to enhance IT transformation process of businesses across Pakistan. Under this partnership, PTCL will provide Dell EMC infrastructure solution and services to companies and businesses nationwide.

These solutions will help organizations in their business growth through massive scalability and efficiency for a wide range of files and data storage workloads. Understanding the unique infrastructure requirements for various business models, this partnership will cater to all the market segments; small or large, with solutions that can help modernize data centers and increase IT efficiency.

Adil Rashid, Chief Business Services officer, PTCL, on the occasion, said, “This partnership will enable us to offer industry leading infrastructure solutions to our customers, which will help them to broaden their capabilities and grow even faster. Leveraging Dell EMC capabilities, our priority is to solve our customers’ digital challenges giving them confidence to deploy new capabilities, thereby, establishing PTCL as a trusted ICT solution provider in the country.”

Naveed Khan, Director Data Center Solutions, Dell EMC Asia Emerging Markets, on the occasion, said, “Today Dell EMC and PTCL embark on a new journey towards digital transformation. With Dell EMC’s leading technology and PTCL’s reach across Pakistan, both organization are collaborating for a common goal to help businesses prepare for the Digital Age.”

PTCL’s partnership with Dell EMC will provide a wide array of cloud-native and traditional workloads solutions in line with its Public Cloud strategy on Converged, Hyper-Converged, All-Flash and Hybrid storage to businesses. This also includes server lifecycle automation, expandable infrastructure for compute and networking and a mix of Dell EMC Software Defined Storage Solutions to different industries nationwide.

For more information, contact:
Pakistan Telecommunication Company Limited (PTCL)
F-8 Exchange, Nazim-Ud-Din Road F-8/1,
Islamabad
Tel: +92-51-111-20-20-20
Fax: +92-51-111-21-21-21
Email: shahzad.khalil@ptcl.net.pk
Website: www.ptcl.com.pk

FoodPanda launches Super September Deals for Cricket Season

Karachi, September 14, 2018 (PPI-OT): The most awaited cricket tournament of the season is here and all the cricket fans are up to watch the nail-biting battle for cricket supremacy in the continent. But wait, why bite nails when you can chomp and bite the food you love?

Yes, we’re talking about some awesome cricket season deals from our favourite food partner, foodpanda! Panda knows how we Pakistanis love food just as much as we love our cricket and thus, as always, they have managed to hit the boundary with some amazing Super September Deals starting today.

The note-worthy thing this time around is that these deals are only available on foodpanda at exclusive prices. So, while you sit in front of the screen cheering for your favourite cricket hero and the hunger strikes, simply play a hook shot by ordering some piping-hot pizzas, burgers or healthy subs from your favourite eateries at special prices until September 2018 across Pakistan.

And here’s a list of our hot favourites for the season:

Subway

For Rs. 650 only, you can get:

2 Subs

2 Drinks

Pizza Hut

The Pizza lovers can avail great offer for just Rs. 799+ tax:

4 personal pan pizzas

4 garlic bread

1 1.5 litre drink

OPTP

For just Rs. 790, you can avail one of the two following offers:

Offer 1:

Any 2 Double Stack Burgers

1 Jumbo Garlic Mayo Fries

Offer 2:

6 pieces of Chicken Wings

2 Drinks

Now sit back with your cricket buddies, and watch it rain 4s and 6s while foodpanda delivers to you!

For more information, contact:
PR Manager
FoodPanda Pakistan
(A global venture by Rocket Internet GmBH)
6th Floor, Executive Towers,
Dolmen City, Clifton Block-4,
Karachi, Pakistan
Cell: +92-333-3801187
Tel: +92-21-35297835-7
Email: info@foodpanda.pk

JCR-VIS Assigns ‘AA’ IFS Rating to IGI General Insurance Limited

Karachi, September 13, 2018 (PPI-OT): JCR-VIS Credit Rating Company Limited has assigned Insurer Financial Strength (IFS) rating of ‘AA’ (Double A) to IGI General Insurance Ltd. (IGI General). The rating signifies very high capacity to meet policyholder and contract obligations. Risk is considered modest but may vary slightly over time due to business /economic conditions. Outlook on the assigned rating is ‘Stable’.

The assigned rating incorporates strong sponsor profile with IGI being a wholly owned subsidiary of IGI Holdings Limited (IGIHL – formerly, IGI Insurance Limited). IGIHL belongs to a prominent business conglomerate, Packages Group, which began operations as a paper and paperboard manufacturer in 1957. As part of a strategic restructuring, the general insurance and investment segments of IGIHL were transferred into two distinct entities. The rating also takes into account positive results from underwriting operations and liquidity profile of IGI General.

Rating takes into account the competitive environment in which the company operates. IGI General has grown its premium base by more than 20% in the last two years. In view of its growth orientated strategy, IGI General plans to launch new insurance products; impact of these developments will need to be monitored over time. Along with a steady growth in business volumes, IGI General also maintained an adequate risk profile.

The rating also draws comfort from its sound reinsurance panel and treaty structure. Enhanced focus on underwriting quality has allowed the company to report a healthy bottom line over the three-year horizon. Despite a higher claims ratio, on net basis, IGI General posted an increased underwriting profit. However, combined ratio was reported higher than the industry average. Profitability indicators will need to be maintained to be commensurate with the assigned rating.

Given the restructuring of IGIHL, capitalization levels allocated to IGI General is placed at Rs. 2.09b at end-December 2017 (2016: Rs. 13.6b). Rating is underpinned with growth in business volumes to support equity levels. Leverage indicators may need to be further strengthened over time.

IGI General has a structured investment management and oversight mechanism in place and also utilizes the expertise of group investment management function to manage its investments. Investment portfolio of IGI General is mostly tilted towards fixed income avenues. There has been stability in senior management team. IT infrastructure in place includes an Oracle based ERP system.

For more information, contact:
CFA
JCR-VIS Credit Rating Company Limited
VIS House, 128/C,
25th Lane off Khayaban-e-Ittehad,
Phase VII, DHA, Karachi
Tel: +92-21-35311861-72
Fax: +92-21-35311873
Email: sobia@jcrvis.com.pk

President SITE Association expresses satisfaction over improvement in law and order situation

Karachi, September 11, 2018 (PPI-OT): “Peace and stability are inevitable for economic development, industrialization growth and generating more employment opportunities. The law and order situation is better than before during the last several months as compare to the past whereby crime number has been curtailed in the S.I.T.E. Industrial Area with the joint efforts of Sindh Police, Rangers and SITE Self Security System.”. This was stated by Muhammad Jawed Bilwani, President, S.I.T.E. Association of Industry in his statement to press and electronic media.

President SITE Association has expressed satisfaction over improvement in law and order situation in Karachi’s oldest industrial area SITE whereby the street crimes have reportedly declined and controlled. He appreciated the Addl. IG Police, DIG Police West and SSP West for their cooperation and sincere efforts to control the crime in the area and also supporting the SITE Association’s initiative of Crime Control Monitoring System which has been functioning 24/7 for the last more than five years. Besides 14 motorcycles have been give to police personnel for patrolling the sensitive areas. efforts are underway to increase the number of motorcycles and police force.

Sharing the figures, Jawed Bilwani informed that as per the data during Jan-Aug 2018 snatching / theft of Motorcycle; Mobile phone and Cash reports are 23, 45 and 50 respectively as compared to same period of last year reports were 221, 58 and 55 respectively which shows decrease of street crime reports by 861%, 29% and 10% respectively.

He recalled that in the past the business and industrial community, despite the huge potential of economic growth and development faced many economic hardships because previous governments were failed to provide peaceful atmosphere. Karachi is the financial, industrial and trade hub of Pakistan which contributes 53% of revenue to the national exchequer and 95% revenue for the provincial exchequer, and contributes to 40% of the total country’s exports. Hence, the first priority of the Government should be to improve and maintain law and order situation taking concrete and sustainable measures so that the wheels of industries must not slowdown.

Jawed Bilwani demanded the Government to always accord top priority to the law and order situation in the larger interest of our beloved country and its citizens. He also sought the continuous support of the Sindh Police and Rangers for smooth and effective functioning of SITE Self Security System.

For more information, contact:
Secretary General
S.I.T.E. Association of Industry
H-16, Textile Avenue, SITE, Karachi
Pakistan
Tel: +92-21-32562883, +92-21-32560705
Fax: +92-21-32560704
E-mail: site@site-association.org
Website: www.site-association.org

Imran Khan to make major announcements on Karachi Package: Sindh governor

Karachi, September 11, 2018 (PPI-OT): Sindh governor Imran Ismail has said Prime Minister Imran Khan will visit the city during this week and will make major announcements related to Karachi Package. He said that the government is formulating comprehensive policies for all the sectors, including pharmaceutical. The pharma sector is contributing around $3 billion towards national economy, he said this while inaugurating 15th Health and Pharmaceutical International Exhibition on Tuesday at Karachi Expo organized by E-Commerce Gateway Pakistan.

He said that all the sectors are equally important for the present government. Ismail said that he would cooperate with Chief Minister Syed Murad Ali Shah for the prosperity of Sindh Province and its people. He appreciated the large participation of foreign delegates at the expo and said that it was vision of the prime minister to correct direction and accelerate the national economy. The governor hoped that huge participation of foreigners in such exhibitions the tourism industry of the country would also promote. Imran Ismail said that the Karachi city had faced difficult times in the past and the improvement in law and order situation should be credited to Pak Army and Rangers.

He said that the government will not tolerate any disturbance in future to sabotage peace of the city. The governor said that the federal government is going to announce Karachi Package and in this regard Sindh government has been taken onboard. He said that he recently met Sindh Chief Minister to ease the rift created in the general election. On the occasion of inauguration, Zahid Saeed, former president Korangi Association of Trade and Industry (KATI) welcomed the present government initiatives and urged that the issues pertaining to pharmaceutical industry should be resolved on priority basis.

The 15th Health and Pharmaceutical International Exhibition is attended by over 550 foreign delegates from 25 countries, including China, Singapore, India, USA, Britain, Germany, Switzerland, France, Italy, Turkey etc. About 912 leading brands have been showcased at the three-day exhibition. Dr. Khursheed Nizam, President, E-Commerce Gateway Pakistan said that the vision of Prime Minister Imran Khan had created a positive image of the country.

He said that due to this vision the organizers had received requests even at the last moments. At the exhibition the companies are showcasing their products in the field of health, medicine and research. Around 30 seminars have been scheduled during three – day exhibition where leading scholars will share their expertise in the field.

For more information, contact:
Head Office,
Ecommerce Gateway Pakistan (Pvt.) Limited
8, Kokan Society, Dr. Azhar Hussain Road,
Near Kokan Park, Off: Shaheed-e-Millat Road,
Karachi – 74000, Pakistan
Tel: +92-21-34536321, 38709970
UAN: +92-21-111-222-444
Fax: +92-21-34536330, 34860830
E-mail: info@ecgateway.net
Website: http://www.ecgateway.net

United Business Group announces to support Patriot Group in KCCI’s Annual Election

Karachi, September 11, 2018 (PPI-OT): S M Muneer, Patron-in-Chief of United Business Group (UBG), Former President of Federation of Pakistan Chamber of Commerce and Industry (FPCCI), Zubair Tufail, Secretary General UBG and Gulzar Firoz Central Spokesman of UBG and Khalid Tawab have announced to fully support Patriot Businessmen Group in the forthcoming Annual Election of Karachi Chamber of Commerce and Industry (KCCI) scheduled to be staged on September 15, 2018. S M Muneer said We fully support AKD, Maqsood Ismail, Yahya Polani and Rahim Janu in Chamber’s Election.

For more information, contact:
United Business Group (UBG)
Room No: 203, Second Floor,
Aiwan-e-Sanat Plot No.ST-4/2, Sector 23,
Korangi Industrial Area, Karachi, Pakistan
Tel: +92-21 35062200
Cell: +92-321-8261426