Daily Archives: July 5, 2018

Taurus Securities Limited – Market Roundup

Karachi, July 05, 2018 (PPI-OT):KSE-100 index lost 1219 points yesterday, to close at 40346 with 85mn shares being traded. Top performance as per index points was witnessed in PICT, MUREB and FHAM; top decliners were HGFA, BOP and EFUG. Activity was mainly concentrated in Cement, Cable and Electrical Goods and Miscellaneous.

Dawlance bags Occupational Health and Safety Management Certification OHSAS 18001

Karachi, July 05, 2018 (PPI-OT): Dawlance – Pakistan’s no.1 home appliances brand, bagged the prestigious OHSAS 18001 certification for occupational health and safety, which was presented to the organization by SGS – a multinational company headquartered in Geneva, Switzerland which is known for providing inspection, verification, testing and certification services, and has also featured on Forbes Global 2000 thrice; in 2015, 2016 and 2017 respectively.

OHSAS 18001 is an internationally applied British standard for occupational health and safety management systems, which aims to assist organizations put in place demonstrably sound occupational health and safety performance, thus being a widely recognized certification globally. Speaking at the awards announcement, Dawlance Head of Human Resource, Muhammad Ahmad Khan said, “As an organization and being Pakistan’s one of the most loved home appliance brand, we are very conscious of developing our business in a safe and sustainable manner.”

“This award is a reflection of our commitment to excellence in everything we do and are directly aligned to our values of creating a difference and caring. This has been mainly possible due to the hard work and dedication of all of our people who make both health and safety and sustainability key priorities, while the international recognition is a great achievement and is another step forward, this time upgrading on the European standards,” he added while being thankful to SCG to have received the accreditation.

Celebrations took place across the Dawlance team, while sweets were distributed to the staff on behalf of the higher management along with a ‘thank you’ note which was to value the hard work and all-out efforts put in from various departments including Production Technologies, H and S, Engineering, Supply Chain, Admin and IR, Purchase, Quality Assurance Unit (QAU) and other leading departments.

For more information, contact:
Senior Officer Communications
Dawlance Centre 7/4, Civil Lines 9,
Dr. Zia-Ud-din Ahmed Road, Karachi
Tel: +92-213-5652450-9 (Ext. 2316)
Fax: +92-213-5674643

Chinese loan, amnesty scheme to provide temporary relief

Karachi, July 05, 2018 (PPI-OT): The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) on Thursday said Chinese loan and income through tax amnesty scheme will provide temporary relief to the government as a disaster can only be averted through a loan from IMF. The bargaining position of the country is getting weaker which will make it difficult for negotiators to safeguard national interests in an effective way, it said.

In a statement issued here today, Ghazanfar Bilour said that the IMF loan has become a necessity which will start contraction in the economy reversing the hard-earned economic gains ensured over the years. He said that economic contraction and associated problems can be tackled with enhanced use of Thar coal which will reduce oil import bill, ensuring ample availability of water, improve exports, manufacturing, and remittances, boost investment and close or sell bleeding public sector enterprises. Ghazanfar Bilour said that winning confidence of the business community would be a herculean task for the elected government which is the only way to ensure a real economic turnaround.

The president of the Apex chamber said that avoiding tough decisions will continue to increase the budget deficit as the present deficit and other expenses have reached to an alarming level of eight percent of the GDP which is more than the combined income including exports and remittances. The former government preferred symbolic projects wasting billions ignoring ramifications, he said, adding that further erosion in the exchange rate will hurt our economy which is dependent on loans.

For more information, contact:
Secretary General
Federation of Pakistan Chambers of Commerce and Industry (FPCCI)
B-1, Federation House, Main Clifton Road,
Shahra-e-Firdousi, Karachi-75600, Pakistan
Tel: +92-21-35873691, 93-94
Fax: +92-21-35874332
Email: info@fpcci.com.pk
URL: www.fpcci.com.pk

Pakistan Navy signed contract for acquisition of 4 X MILGEM Class War Ships with M/S ASFAT A.S Turkey

Islamabad, July 05, 2018 (PPI-OT): Pakistan Navy has signed a contract for acquisition of 4 x MILGEM Class Ships with M/s ASFAT A.S, Turkey which is a Military Factory and Shipyard Company under the Ministry of National Defence, Turkey at Ministry of Defence Production (MoDP), Pakistan. The contract also includes complete transfer of technology’ and the transfer of intellectual proprietary rights for the design of these ships to Pakistan. The 1st and 2nd ship will be built at Istanbul Naval Shipyard while two ships will be constructed at Karachi shipyard and Engineering works (KS and EW).

A noteworthy feature of the contract is that the 4th warship will be designed jointly by Pakistan’s Maritime Technologies Complex (MTC) and will be the first indigenously designed and constructed Frigate. The construction of 3rd and 4th ship at KS and EW will not only enhance the industrial production confidence and the ships construction potential but also contribute towards national economy, creating new jobs and development of highly skilled human resource of the Karachi Shipyard.

The MILGEM Class Ships contract will go a long way in fostering Pak-Turkey strategic relations which have grown with time. The induction of these Ships will substantially enhance Pakistan Navy’s Combat Capabilities and will contribute effectively towards Maritime Security Operations in the region.

MILGEM Class Ship is a capable and extremely potent platform, favourably comparable with any contemporary warship of modern navies. The ship is equipped with modern stealth features, and state of the art 5th generation weapons and sensors including indigenously developed missile system, hence configured to undertake multifaceted operations in all domains of naval warfare. The acquisition of these modern ships will enhance manifold the capabilities of Pakistan’s Naval Forces which are an ardent guarantor of Maritime Security and stability across the region and beyond.

For more information, contact:
Directorate of Public Relations,
Pakistan Navy
Naval Headquarters, Islamabad, Pakistan
Tel: +92-51-20062326
Cell: +92-300-8506486
Website: www.paknavy.gov.pk

Senators endorse PIA’s expansion, appreciate improvement in service

Karachi, July 05, 2018 (PPI-OT): Senate Standing Committee on Aviation has asked the national flag carrier, Pakistan International Airlines to expand its fleet and network. This was said during the meeting of committee held at PIA Head office. Meeting was chaired by Senator Mushahidullah Khan whereas Senator Sherry Rehman, Senator Fida Muhammad and Senator Momin Khan Afridi members of committee also attended.

Federal Secretary Aviation Dr. Ijaz Munir, President and CEO PIA Dr. Musharraf Rasool Cyan, Director General Civil Aviation G. Hassan Baig, Dy DG CAA Khawar Ghayas, Addl DG Metrological Deptt Dr. Muhammad Hanif, and Director Operations ASF Col Navaid were present to represent their respective organizations. Senator Mushahidullah Khan said that PIA’s there is an improvement in PIA’s performance especially its fleet has doubled as compared five years ago and a reduction in losses are also being witnessed.

However, there is a need to expand further for the convenience of public. Senator Sherry Rehmansaid she appreciates remarkable improvement especially in the behaviour of its flight crew who are very courteous and hardworking. She emphasized upon improvement in IFE and flight cuisine. She said that there should be representation of women in PIA’s Board of Directors which is missing. She said that medical facilities to PIA employees must continue. Secretary Aviation Dr. Ijaz Munir earlier gave a comprehensive presentation on the setup of Aviation Division.

He shared details of performance of all its constituents, PIA, CAA, ASF and Met Deptt. Responding to queries raised by the senators President and CEO PIA Mr. Musharraf Rasool Cyan said building on ongoing efforts expansion in PIA is underway and within two to three years a significant expansion will be there. He said new airport at Islamabad will be used as new opportunity for expansion. He said four new aircraft are expected to be inducted by the end of current year whereas in other areas especially in technical ground services also we going for new acquisition of equipment as the present equipment is very old and obsolete.

Musharraf said that the present average age of fleet is around 11 years brought down from 27 years previously. He said there has been no significant increase in the administrative cost of airline which stands at around 20% as previous. He said we are working on consumer based flight cuisines and introduced some new menus on selected routes. Similarly the IFE and cabin improvement has also been planned to have wide TV screens and flat beds in business class as well.

The senators asked for more services at new airport for the convenience of public. They said many issues are being witnessed at the airport which needs to be resolved at the earliest. Senator Sherry Rehman asked for the details of the agreements signed between CAA and other parties for the new airport as there seems to be violation of PPRA in them. Sherry Rehman asked to rename the new airport as Benazir Bhutto as it was its original name. Senator Fida Muhammad asked for improvement in technical ground service especially at New Islamabad International Airport.

The members of committee also discussed performance issues related to Airport Security Force and Metrological Department. Senator Mushahidullah said that the Metrological services need special attention and he especially requested the media to acknowledge its importance and should enhance its awareness as it is life line of any nation. He said weather forecast has direct impact upon the economy of the country and there is an urgent need for lobbying at international level.

For more information, contact:
General Manager
Public Affairs
Pakistan International Airlines (PIA)
PIA Head Office Airport
Tel: +92-21-99043823
Fax: +92-21-34572225, +92-21-34570419
Cell: +92-322-7420707
Website: www.piac.com.pk

APHC-AJK to hold rally in Islamabad on Burhan’s anniversary

Islamabad, July 05, 2018 (PPI-OT): The All Parties Hurriyat Conference Azad Jammu and Kashmir (APHC-AJK) chapter will hold a protest rally in Islamabad on the 8th July (Sunday) to mark the 2nd martyrdom anniversary of popular youth leader, Burhan Muzaffar Wani, and his associates in occupied Kashmir. Indian troops had killed Burhan Wani along with his two associates in a fake encounter in Kokernag area of Islamabad district on July 08, 2016. Burhan Wani’s cold-blooded murder had triggered the ongoing mass uprising in the occupied territory.

The APHC-AJK in a statement issued in Islamabad, today, said that the rally would start from State Life Building and culminate at D-Chowk in Blue Area. It said that the rally would be attended by the leaders and activists of political, religious and social organizations of Pakistan and Azad Jammu and Kashmir and the Indian state terrorism in occupied Kashmir would be highlighted on the occasion. The statement said that during the rally, glowing tributes would be paid to the Kashmiri martyrs and pledge to take their mission to its logical conclusion would be reaffirmed.

For more information, contact:
Kashmir Media Service
Phone: +92-51-4435548, +92-51-4435549
Fax: +92-51-4861736
Email: info@kmsnews.org
Website: www.kmsnews.org