Category Archives: General Business News

First employment exchange program launched by Pakistan China Joint Chamber of Commerce with

Lahore, January 18, 2018 (PPI-OT):Pak China Joint Chamber of Commerce and Industry Launched first employment exchange program to connect people with the employment opportunities created under CPEC Project. In order to put plan into reality, collaboration is made with ROZEE.PK and is fully operational in the Chinese, Urdu and English languages to facilitate all participants.

The Launching ceremony was held on Thursday at PCJCCI Secretariat where CEO Rozee.Pk, Mr. Monis Rahman appeared as Chief Guest whereas Mr. Wang Zihai, Dr. Iqbal Qureshi, Moazzam Ghurki, M. Salahuddin Hanif, Mr. Liu also participated in ceremony. Various dignitaries including CEO’s and renowned HR experts also participated in the ceremony to encourage the initiative taken by both PCJCCI and

President PCJCCI, S.M Naveed gave welcome address on the ceremony. He said that PCJCCI is in continuous effort to overcome every barrier that comes in way of developing relations between Pakistan and China. He informed that this collaboration takes advantage of the latest online and mobile technologies to unlock over 7 million highly skilled Pakistani professionals across all sectors of industry. “We are confident that through this collaborative project with ROZEE.PK, thousands of jobs will be created for Pakistanis and Chinese businesses will be able to execute quickly with the best that Pakistan has to offer” said S.M. Naveed.

S.M. Naveed further informed that PCJCCI since inception endeavouring to devise effective programs to overcome language and cultural barriers, the successfully accomplished projects of PCJCCI Included the publication of first ever Chinese to Urdu and English Dictionary, publication of Chinese language book, Cultural Youth exchange summer camp programs, Academic scholarship program, Chinese Language teaching Program, Teaching Resource exchange program, Technical training program, literature exchange program and much more.

S.M Naveed explicated that after a series of successful programs, PCJCCI feels privileged to introduce first ever “Employment Exchange Program” that is primarily intended to connect people with the opportunities created under the CPEC project.

Mr. Wang Zihai, Chairman China Affairs committee PCJCCI, in his speech congratulated Mr. S. M Naveed and Mr. Monis Rehman for realizing this pertinent need and playing effectual role. Mr. Wang said that Platforms like PCJCCI which are promoting and facilitating common masses to benefit from the present opportunities are the great contributors of growth in currently growing relations between China and Pakistan. The people comprehending this crucial need of time must be regarded as the real mentors, added Mr. Wang.

Mr. Monis Rehman, CEO Rozee.Pk paid special tribute to the Chinese communities who have built friendship and lived in harmony with the local people, and made indispensable contributions to the economic and social development of Pakistan. He expressed hope that all Chinese and Pakistani brethren will carry forward the fine Chinese culture and traditional virtues, reveal the spirit of diligence, bravery, intelligence and self-improvement, and make more contributions to a better Pakistan by fulfilling friendship between China and Pakistan.

He said that this collaboration between PCJJCCI and Rozee.Pk is solely for the empowerment of young talented Pakistani people who are consistently in search of bright opportunities. He said that massive Chinese investment has created a window of opportunity in Pakistan and specialized organizations should indulge themselves for preparing comprehensive and professional work plans to benefit from those opportunities.

On the occasion, M. Salahuddin Hanif, Secretary General PCJCCI said that PCJCCI is having a fervent strategy for the innovative and vocational training of young industry professionals that is entrusted to enable them to work for miraculous CPEC projects. He said that we as a team are strongly embedded with the vision that is the economic integration of two brotherly nations – China and Pakistan through increased regional connectivity for mutual benefit.

Our Mission is to accentuate on the proliferation of bilateral trade between Pakistan and China, endeavouring the identification and eradication of potential deterrents in the expansion of trade and investment opportunities. The ceremony ended with the huge appreciation and complements by the participants for PCJCCI and Rozee.Pk for indulging themselves in sincere moves to trigger friendship between China and Pakistan.

For more information, contact:
Media Manager,
Pakistan China Joint Chamber of Commerce and Industry (PCJCCI)
Mega Tower, 309 – 6th Floor,
Main Boulevard, Gulberg II,
Lahore, Punjab – Pakistan
Tel: +92-42-35777460-02, +92-42-37032203, +92-42-35874353
Fax: +92-42-35777524
Cell: +92-324-4925611

Pakistan’s Liquid Foreign Reserves Position

Karachi, January 18, 2018 (PPI-OT):The total liquid foreign reserves held by the country stood at US$19,771.5 million on 12 January 2018. The break-up of the foreign reserves position is as under:-

i) Foreign reserves held by the State Bank of Pakistan: US$ 13,699.0 million

ii) Net foreign reserves held by commercial banks: US$ 6,072.5 million

iii) Total liquid foreign reserves: US$ 19,771.5 million

During the week ending 12 January 2018, SBP’s reserves decreased by US$284 million to US$13,699 million, due to external debt servicing and other official payments.

For more information, contact:
Chief Spokesman,
State Bank of Pakistan (SBP)
Central Directorate
I.I. Chundrigar Road, Karachi, Pakistan
Tel: +92-21-111-727-111
Tel: +92-21-39212562
Fax: +92-21-39212433 – 39212436

IMF Resident Representative for Pakistan calls on Minister of State for Finance Rana Muhammad Afzal Khan

Islamabad, January 18, 2018 (PPI-OT):Mr. Tokhir N. Mirzoev, IMF Resident Representative for Pakistan, called on the Minister of State for Finance Rana Muhammad Afzal Khan here Thursday. Mr. Mirzoev congratulated the Minister on assuming his responsibilities as the Minister of State and wished him well in his tenure. The Minister on the occasion said that despite challenges the economy was gaining momentum and growth in large scale manufacturing, improved exports and good management of imports were helping in overcoming difficulties.

The Minister expressed the confidence that future would bring new and better opportunities for Pakistan. He also added that CPEC would prove to be window of economic prosperity for Pakistan and benefit the whole region. Mr. Mirzoev informed the Minister that his term would be expiring in March and he would be carrying home good memories of working in Pakistan. The Minister wished Mr. Mirzoev the best in his future assignments.

For more information, contact:
Principal Information Officer,
Press Information Department (PID)
Tel: +92-51-9252323, +92-51-9252324
Fax: +92-51-9252325, +92-51-9252326

National Bank of Pakistan upgrades Custom House Branch

Karachi, January 18, 2018 (PPI-OT):National Bank of Pakistan (NBP) has upgraded its Custom House branch to a modern facility to provide high quality and efficient services to its customers. NBP has been proactively working on its branch banking infrastructure to improve its systems and provide service of excellence to its customers which is in line with its vision of being the nation’s bank.

Custom House Branch enhancements were initiated by Mr. Saeed Ahmad, President and CEO, NBP in April 2017 and subsequently inaugurated the recently. Mr. Abdul Rasheed Shaikh, Chief Collector of Customs (Appraisements) and Mr. Manzoor Hussain Memon, Chief Collector Custom (Enforcement) at NBP Custom House Branch also graced the occasion with senior members of Custom Authority.

Speaking at this occasion of branch renovation ceremony Mr. Saeed Ahmad, President and CEO, NBP said “When I visited the branch first time after taking the charge, I was very disappointed with the setup, congestion, overcrowding and mishandling. In order to provide first class services to our valued customers who use our facilities, it is imperative that they are treated respectfully and are provided comfortable environment where they may avail our services efficiently and with respect and dignity. My emphasis has been to change the culture of the organization and its image to attain high customer satisfaction. NBP will leave no stone unturned to provide best services to its valuable customers to have a smooth and seamless experience in banking”. He also said that NBP will continue to upgrade its facilities at other branches.

Mr. Abdul Rasheed Shaikh, Chief Collector Custom (Appraisements) and Mr. Manzoor Hussain Memon, Chief Collector Custom (Enforcement) said that relation between the two government agencies is decades old and it is impressive that the promise made by NBP has been fulfilled in a very short time.

Mr. Muhammad Arshad Jamal, Chairman, FPCCI standing Committee on Customs, Mr. Qamar Alam, Chairman All Pakistan Custom Agents Association, Mr. Faisal Mushtaq, President, Karachi Custom Agents Association, Mr. Wasiq Hussain Khan, Ex-Gen Secretary KCAA along with their office Bearers were also present on the occasion and appreciated NBP’s efforts on modernizing the branch facility.

The Branch renovation ceremony was also attended by Mr. Aasim Akhtar, Group Head Commercial and Retail Banking Group, Mr. Mohsin Furqan Group Head, Operation, Mr. Tariq Jamali, Group Chief ARG. Mr. Shahid Dar Group Head Logistics. Mr. Faisal Ahmed, EVP, Network and Planning, Mr. Asad Saleem, EVP Corporate and Investment Banking, Mr. Tariq Latif Ansari, Regional Head Karachi along with RMT members.

NBP Custom House Branch is one of the largest single branches with top volume of transactions. It works within close cooperation with the custom authorities. The need to serve customers to meet their requirement necessitates that the branch functions at extended hours. NBP Staff is making full efforts to meet such needs.

For more information, contact:
Vice President / Divisional Head (A)
National Bank of Pakistan (NBP)
Corporate Communication and Brand Management Division
Head Office, NBP Building, I.I. Chundrigar Road,
Karachi, Pakistan
Tel: +92-21-99220773
Cell: +92-300-8202184
Fax: +92-21-99212734

Karachi Port Trust handled 5.28% more cargo during last six months of financial year 2017-18

Karachi, January 18, 2018 (PPI-OT):The total cargo handling at Karachi Port remained at 27.198 million tons during the last six months (July-December) of the ongoing financial year 2017-18, whereas it closed last year for the same period at 25.83 million tons; hence showing a comparative growth of 5.28 %. Similarly the container handling has also gained momentum at Karachi Port and 1.107 million TEUs (containers) were handled during the last six months; whereas 0.967 million TEUs were handled last year during the corresponding period.

The breakup shows that exports cargo handling of the last six month closed at 5.525 million tons which closed last year during the same corresponding period at 4.810 million tons which shows an increase of 14.86% in comparison to last year. Similarly, the imports cargo handling of the last six months closed at 21.673 million tons which remained at 21.024 million tons during the corresponding period last year. It is a remarkable achievement of the port and reflects on the favourable export oriented policies of government. The imports handling has also gained momentum compared to last year to show an increase of 3.09%.

The ships movement has also remained brisk at the port. A total of 1066 vessels have been handled during the last six months; whereas in the corresponding period last year it remained at 957 vessels. Breakup shows that KPT has handled 484 container vessels, 125 bulk cargo vessels, 172 general cargo vessels and 285 oil tankers during the last six months. The same remained at 367 container vessels, 122 bulk cargo vessels, 188 general cargo vessels and 280 oil tankers during the corresponding period last year.

The credit for the growing trends goes to Minister for Maritime Affairs Mir Hasil Khan Bizenjo and Team KPT for making serious efforts to perform so very well. Chairman KPT has appreciated the efforts of KPT management, particularly General Manager Operations and his Team of Port Operations and Traffic department.

For more information, contact:
Karachi Port Trust (KPT)
KPT Head Office Building,
Eduljee Dinshaw Road,
Karachi – 74000, Pakistan
Tel: +92-21-99214358, 99214542, 99214530-40
Fax: +92-21-9214329-30

Qatar’s Ambassador to Pakistan meets with President of Rawalpindi Chamber of Commerce and Industry

Islamabad, January 18, 2018 (PPI-OT):His Excellency Saqr Bin Mubarak Al Mansouri, Ambassador of the State of Qatar to the Islamic Republic of Pakistan, met with Mr. Zahed Latif Khan, President of Pakistan Chamber of Commerce and Industry Rawalpindi, in the presence of a number of RCCI members and Mr. Masoud Al Athbi consular at the embassy.

During the meeting, they discussed bilateral relations between the two countries, especially with regard to enhancing trade exchange between them and the importance of developing them. They also reviewed ways to enhance cooperation between the public and private sectors of Qatar and Pakistan and to hold joint trade and investment meetings to encourage businessmen to promote bilateral cooperation.

The Qatari ambassador stressed the interest of the State of Qatar in its relations with the Islamic Republic of Pakistan in various fields, especially economic and trade, and its keenness to promote and develop these relations which he described as distinct, stressing that they are historical relations based on trust and mutual respect. He also pointed to the keenness of the leaderships of the two countries to promote and develop these relations to wider horizons to serve the interests of the two countries.

In the framework of cooperation between the two countries in the economic and investment fields, he stressed that the State of Qatar seeks to enhance cooperation in the fields of investment through the Qatar Investment Authority and Hassad in many fields including energy, agriculture, infrastructure etc.

For his part, President of the Chamber of Commerce and Industry Rawalpindi of Pakistan stressed on the intention of Pakistani businessmen to take advantage of the opportunities for trade and investment cooperation with the Qatari side and informed that they have a visit scheduled to Qatar next month, to participate in the Pakistani products exhibitions in the State of Qatar.

For more information, contact:
Qatar Embassy in Islamabad
Islamabad, Pakistan
Tel: +92-51-2270833, +92-51-2270768