Daily Archives: January 19, 2018

Passing out parade of Aero Apprentices held at PAF Base, Korangi Creek

Karachi, January 19, 2018 (PPI-OT):Passing out parade of Aero Apprentices was held at PAF Base, Korangi Creek, today. Air Chief Marshal Sohail Aman, Chief of the Air Staff, Pakistan Air Force was the Chief Guest of the ceremony. Air Vice Marshal Haseeb Paracha, Air Officer Commanding Southern Air Command, PAF received the chief guest at the venue.

Addressing at the occasion, the Air Chief warned the enemies of Pakistan that their coward acts would not yield any results and Pakistan would continue to prosper by the grace of Allah Almighty. He further said, “Pakistan Air Force is equipped with modern and indigenous weapon systems, radars and other sophisticated military equipment to thwart any external or internal threats. For maintenance of these precious assets, PAF is investing heavily in training of technical force on modern highest international EASA standards, in order to produce sound professionals.

He further added, “PAF has uniquely brought theoretical and practical modes of training. I am certain that new training scheme would go a long way to meet the maintenance requirements of vital PAF Assets”. In the end, the air chief reminded the aero apprentices that the time ahead would continue to pose formidable challenges before them, but with faith in Allah and their abilities, they should overcome all odds with courage, commitment and professional excellence. He urged them to fully devote their time and energies to their profession and work with resolute commitment to attain mastery in their respective trades.

A total of 782 Aero Apprentices including personnel from friendly countries and Pakistan Navy successfully completed their technical training. The Air Chief awarded trophies among the distinction holders. Asghar Khan Trophy for the Best in Aero Space Technology was awarded to Air Weapon Technician M Arsalan Bajwa; Whereas, Nur Khan Trophy for the Best in Avionics Technology was awarded to Aircraftman M Usman. Zafar Choudhry Trophy for the Best in Aero Support Technology (School of Aeronautics) was awarded to Aircraftman Naimatullah; While, Rahim Khan Trophy for the Best in Aero Support Technology (School of Electronics) was awarded to Aircraftman Amir Danish.

Best Performance Trophy for foreign trainee was awarded to Leading Aircraftman Amarakoon from Sri Lanka; Whereas, Base Commander Trophy for the Best in General Service Training was awarded to Aircraftman Base Sergeant M Usman Ashfaq. The coveted Chief of the Air Staff Trophy for the Overall Best Performance was clinched by Aircraftman M Usman. Air Commodore Ibrahim Asad, Base Commander, PAF Base Korangi Creek was also present at the occasion.

For more information, contact:
Director Media Affairs
Pakistan Air Force
E-mail: pafdpr@paf.gov.pk
Tel: +92-51-9507751, +92-51-9261300
Fax: +92-51-9260868

American Government provides Ambulances to Highways and Motorway Police

Islamabad, January 19, 2018 (PPI-OT):On January 19, American Ambassador David Hale officially delivered 10 ambulances worth almost 180 million rupees ($1.6 million) to the National Highways and Motorway Police (NHMP).The delivery underscores the American government’s long and fruitful efforts to support Pakistan’s law enforcement capacity and assist NHMP in its mission to promote safe and secure Pakistani highways.Minister of State for Communications Muhammad Junaid Anwar Chaudhry, Secretary for Communications Furqan Bahadur Khan and NHMP Inspector General of Police Dr. Kaleem Imam participated in the event.

Ambassador Hale praised NHMP, noting “Since 1997, [NHMP] has built a national reputation for honesty, professionalism, and public service.[NHMP’s] job is to save lives and help those in need, no matter the dangers – while maintaining the highest ethical and professional standards.”Ambassador Hale also welcomed NHMP’s efforts to recruit and retain women into its police force, which has nearly four times as many policewomen on its force, as compared to the national average of all police organizations, a testament to NHMP’s culture of professionalism and inclusiveness.

NHMP will place the ambulances in strategic locations throughout Pakistan to respond promptly to emergencies.Four NHMP officers have also received international certification as master trainers on emergency medical response from the American Embassy’s International Narcotics and Law Enforcement Affairs Section (INL), to train other police officers who are often the first responders to arrive at scenes of serious incidents.

For almost 40 years, the United States and Pakistan have worked to improve citizen security and enhance police capacity across Pakistan.This cooperation includes providing protective gear for police officers; constructing police training centers and other infrastructure; and training some 18,000 police personnel on investigation, forensics, leadership, and modern policing practices.

The Bureau of International Narcotics and Law Enforcement Affairs, which funded the ambulances, works in more than 90 countries to help combat crime and corruption; counter the narcotics trade; improve police institutions; and promote court systems that are fair and accountable.Find out more about INL at: http://www.state.gov/j/inl/.

For more information, contact:
Spokesman
Information Office Public Affairs Section
Embassy of the United States of America
U.S. Embassy, Islamabad- Pakistan
Tel: +92-51-2082911, +92-51-2081136
Cell: +92-300-5012640
Fax: +92-51-2278607
Email: webmasterisb@state.gov

A Gesture of Amity and Humanity: Pakistan Reunited an Afghan Child with Family

Islamabad, January 19, 2018 (PPI-OT):Today in a gesture of good will, Foreign Secretary of Pakistan Tehmina Janjua handed over the custody of an Afghan child to the Afghan Embassy in Islamabad. The child had come here with his parents for medical treatment of his father. However, during their stay in Islamabad, Ubaid Ullah went missing. The mother of the child could not find any clue about his whereabouts and due to sudden demise of Ubaid Ullah’s father had left for Afghanistan.

The Child was found by Islamabad Police on 7th November, 2015 and was referred to Child Protection and Welfare Bureau who took the custody of the child and provided him a homelike environment along with, education, healthcare and psychological counselling. Meanwhile Pakistani authorities as well as our Embassy in Kabul continued efforts for tracing his family in Afghanistan.

Today, after successful conclusion of these efforts, Ubaid Ullah was handed over to the Afghan Embassy in Islamabad. He would be travelling later today to reunite with his family in Afghanistan. The Government and people of Afghanistan have deeply appreciated Pakistan’s efforts for taking good care of the destitute Afghan child and his safe reunion with his family.

For more information, contact:
Spokesman
Ministry of Foreign Affairs
Government of Pakistan
Tell: +92-51-9205494
Fax: +92-51-9204202
Cell: +92-336-5644459
Website: www.mofa.gov.pk

Economy is maintaining growth momentum despite external headwinds

Karachi, January 19, 2018 (PPI-OT):State Bank of Pakistan has released its First Quarterly Report for FY18 on the State of Pakistan’s Economy today. According to the Report, preliminary data on key macroeconomic indicators suggest that growth momentum remained strong in the first quarter of current fiscal year. Several coincident indicators point to a further strengthening of aggregate supply and demand in the economy.

According to the report, with the exception of cotton, other major kharif crops achieved or surpassed the FY18 targets. This improvement is supported by sufficient water availability, healthy fertilizer off take and an encouraging increase in agricultural credit disbursements. The large-scale manufacturing also experienced a 10 percent high growth during Q1-FY18 – the highest quarterly growth since FY09. The performance was encouraging as all sectors, barring fertilizer, contributed positively.

This broad-based growth can be attributed to: (i) better energy availability, (ii) improved security situation, and (iii) rising consumer demand on the back of higher purchasing power and access to affordable credit facilities. The healthy performance of commodity producing sectors had a positive impact on the services sector as well.

The Report highlighted that timely policy support, favourable cyclical movements, low and stable inflation along with growing confidence triggered an uptick in the private sector credit. In particular, the fixed investment loans expanded for the twelfth consecutive quarter in Q1-FY18.

The Report also observed the noteworthy rebound in FBR revenues on the back of increased economic activity. New infrastructure projects, surge in imports, higher consumption of consumer durables, and increased prices and consumption of POL products significantly contributed to both direct and indirect taxes. Notwithstanding this performance, the Report emphasized on the need for more concerted efforts aimed at expanding the tax base.

It also highlighted that the recent significant gains in export growth and foreign direct investment are welcome developments. However, these gains were not enough to contain the overall balance of payments deficit. On the back of an expanding economy, import payments far exceeded the aforementioned positives and the external sector remained under pressure.

The widening of current account deficit along with an increase in economic activity is a recurring phenomenon for Pakistan, and one that has the tendency of disrupting growth cycles. There is, hence, an urgent need to find innovative policy mixes, avenues for raising foreign exchange earnings, and realigning policies favouring export growth.

In brief, the first quarter developments show that Pakistan’s economy is well poised to continue on its growth momentum for FY18. However, in order to maintain this virtuous equilibrium of high growth and low inflation in the medium and long-term, the Report underlines the need to address long-standing structural reforms in the fiscal and external sectors.

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
Email: chief.spokesperson@sbp.org.pk
Website: www.sbp.org.pk

Economy is maintaining growth momentum despite external headwinds

Karachi, January 19, 2018 (PPI-OT):State Bank of Pakistan has released its First Quarterly Report for FY18 on the State of Pakistan’s Economy today. According to the Report, preliminary data on key macroeconomic indicators suggest that growth momentum remained strong in the first quarter of current fiscal year. Several coincident indicators point to a further strengthening of aggregate supply and demand in the economy.

According to the report, with the exception of cotton, other major kharif crops achieved or surpassed the FY18 targets. This improvement is supported by sufficient water availability, healthy fertilizer off take and an encouraging increase in agricultural credit disbursements. The large-scale manufacturing also experienced a 10 percent high growth during Q1-FY18 – the highest quarterly growth since FY09. The performance was encouraging as all sectors, barring fertilizer, contributed positively.

This broad-based growth can be attributed to: (i) better energy availability, (ii) improved security situation, and (iii) rising consumer demand on the back of higher purchasing power and access to affordable credit facilities. The healthy performance of commodity producing sectors had a positive impact on the services sector as well.

The Report highlighted that timely policy support, favourable cyclical movements, low and stable inflation along with growing confidence triggered an uptick in the private sector credit. In particular, the fixed investment loans expanded for the twelfth consecutive quarter in Q1-FY18.

The Report also observed the noteworthy rebound in FBR revenues on the back of increased economic activity. New infrastructure projects, surge in imports, higher consumption of consumer durables, and increased prices and consumption of POL products significantly contributed to both direct and indirect taxes. Notwithstanding this performance, the Report emphasized on the need for more concerted efforts aimed at expanding the tax base.

It also highlighted that the recent significant gains in export growth and foreign direct investment are welcome developments. However, these gains were not enough to contain the overall balance of payments deficit. On the back of an expanding economy, import payments far exceeded the aforementioned positives and the external sector remained under pressure.

The widening of current account deficit along with an increase in economic activity is a recurring phenomenon for Pakistan, and one that has the tendency of disrupting growth cycles. There is, hence, an urgent need to find innovative policy mixes, avenues for raising foreign exchange earnings, and realigning policies favouring export growth.

In brief, the first quarter developments show that Pakistan’s economy is well poised to continue on its growth momentum for FY18. However, in order to maintain this virtuous equilibrium of high growth and low inflation in the medium and long-term, the Report underlines the need to address long-standing structural reforms in the fiscal and external sectors.

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
Email: chief.spokesperson@sbp.org.pk
Website: www.sbp.org.pk

Pakistan Stock Exchange Limited Market Position on 19-01-2018

Karachi, January 19, 2018 (PPI-OT):


DAILY STOCK MARKET REPORT

Market Position Printed On Jan-19-2018

COMPANIES KSE KSE-30 KSE-100 KSE-ALLSHR KMI-30 BATi OGTi PSX-KMI
POSITION INDICES INDEX INDEX INDEX INDEX INDEX INDEX INDEX
Plus 316 Current 22035.21 43630.75 31435.10 73643.90 17099.00 20785.38 21458.46
Minus 65 Previous 21592.26 42814.34 30995.67 72249.41 16712.68 20612.65 21156.93
Unchanged 19 High 22073.52 43658.02 31453.75 73704.10 17205.21 20980.05 21479.13
Total 400 Low 21592.26 42814.34 30995.67 72249.41 16669.04 20612.65 21156.93
Net Change 442.95 816.41 439.43 1394.49 386.32 172.73 301.53
Percentage 2.05 1.91 1.42 1.93 2.31 0.84 1.43

TURNOVER TRADING VALUE MARKET CAPITAL
Current 327,761,830 15,574,088,851 9,045,389,800,219
Previous 225,340,450 9,751,914,316 8,920,726,304,174

COMPANIES REFLECTING SIGNIFICANT TURNOVER

Company Name Prv.Rate Opening Rate Closing Rate Highest Rate Low Rate Turnover
Aisha Steel Mill 19.77 19.99 20.77 20.77 19.90 16,916,500
TRG Pak Ltd 30.78 30.40 32.31 32.31 30.01 16,720,500
Dewan Cement 22.00 21.75 23.10 23.10 21.05 15,584,000
Azgard Nine 15.41 15.40 15.34 16.10 15.00 14,911,500
B.O.Punjab 9.24 9.29 9.66 9.84 9.29 14,089,500
Dost Steels Ltd. 10.91 11.00 11.91 11.91 11.00 12,854,500
WorldCall Telecom 3.00 3.02 2.97 3.05 2.95 10,709,000
Pak Elektron 53.92 54.47 56.61 56.61 54.30 10,328,000
Fauji Cement 26.99 26.95 27.67 27.87 26.80 9,864,000
Engro Polymer 27.26 27.51 27.78 28.48 27.35 9,790,000

COMPANIES REFLECTING HIGHEST INCREASE/DECREASE IN THEIR RATES

Company Name Increased By Closing Rate Company Name Decreased By Closing Rate
Wyeth Pak Ltd 83.63 1756.35 Shield Corp. 24.91 475.00
Bata (Pak) 70.00 2520.00 Otsuka Pak 13.04 286.46

FUTURE CONTRACT
TURNOVER Plus 116
Current 57,775,000 Minus 2
Previous 50,964,000 Unchanged 0

Company Name Prv.Rate Opening Rate Closing Rate Highest Rate Low Rate Turnover
TRG-JAN 30.87 30.35 32.41 32.41 30.00 17,687,500
PAEL-JAN 53.95 54.90 56.64 56.64 54.50 10,004,500
BOP-JAN 9.27 9.34 9.72 9.89 9.34 7,371,500
ISL-JAN 114.82 114.82 120.56 120.56 114.00 3,735,500
FCCL-JAN 27.07 26.95 27.77 27.97 26.86 3,697,000

For more information, contact:
Senior Manager
Public Relations
Pakistan Stock Exchange Limited
Tel: (92-21) 111-001122
Fax: (92-21) 3241 0825, (92-21) 3241 5136
Email: info@psx.com.pk
Web: www.psx.com.pk