Daily Archives: August 27, 2018

Board of directors meeting of Tandlianwala Sugar Mills Limited

Karachi, Tandlianwala Sugar Mills Limited informed Pakistan Stock Exchange that board of directors meeting of the company will be held on September 05, 2018 at Lahore. The agenda of the meeting will to consider the Quarterly Accounts for the period ended March 31, 2018.

Further, the company has declared the closed period from August 28, 2018 to September 05, 2018.

Tandlianwala Sugar Mills Limited is a company incorporated in Pakistan on November 1, 1988 as a public limited company. The foundations of the company are laid under the Companies Ordinance 1984. The principal activity of the company is production of white crystalline sugar, ethanol and top gas carbon dioxide. The stocks of the company are quoted on the Karachi and Lahore Stock Exchanges of Pakistan. The registered office of the company is situated at Lahore. The manufacturing facilities of the company are located at Kanjwani, Dera Ismail Khan and Muzaffar Garh.

The symbol “TSML” is being used by the stock exchange for the shares of Tandlianwala Sugar Mills Limited.

Board of directors meeting of Pakistan Reinsurance Company Limited

Karachi, Pakistan Reinsurance Company Limited informed Pakistan Stock Exchange that board of directors meeting of the company will be held on August 30, 2018 at Karachi. The agenda of the meeting will to consider the 2nd Quarterly Accounts for the period ended June 30, 2018.

Further, the company has declared the closed period from August 24, 2018 to August 31, 2018.

Pakistan Reinsurance Company Limited was formerly referred to as Pakistan Insurance Corporation established in 1952 under PIC Act, 1952 for supporting the local insurance company. On March 30, 2000 the company was incorporated as a public limited company under the Companies Ordinance, 1984. The company ensures the development of insurance and reinsurance business in Pakistan. The registered office of the company is located in Karachi. The shares of the company are quoted on the Karachi and Lahore Stock Exchanges of Pakistan.

The company operates in the public sector under the administrative control of the Ministry of Commerce. The functions of the company include providing insurance solutions to departments including aviation, marine cargo, marine hull, engineering, fire and accident. The company also provides reinsurance protection to the local insurance industry in view of treaty and facultative business as well as managing insurance schemes assigned by the Federal Government of Pakistan. The insurance market holds 18% of the share whereas 45% of the share is covered by the reinsurance protection in Pakistan.

The symbol “PAKRI” is being used by the stock exchange for the shares of Pakistan Reinsurance Company Limited.

Zong 4G’s Employees Plant Trees in ‘Mera Mulk Mera Bagheecha’ Campaign

Islamabad, August 27, 2018 (PPI-OT): Zong 4G’s employees volunteered to join hands in a tree plantation campaign in what comes as a significant move to respond to the growing environmental challenges and improving ecological standards in Pakistan. The tree plantation drive is part of the ‘Mera Mulk Mera Bagheecha’ campaign.

Under this movement, dozens of the personnel from different departments assembled at Zong Headquarters and the recreational spot; the Hill View Park Islamabad to plant scores of plants, saplings and trees. The employees also set up bird houses containing bird-feed and water to provide a clean and permanent refuge to the birds of different species in this sweltering heat.

Additionally, remarkable initiatives are being taken in the Hill View Park in collaboration with the Capital Development Authority to facilitate the visitors and boost environmental standards. These include establishment of a prayer area, kids play area, fruit trees corner, herbs corner and installation of motivational signboards encouraging the visitors to continue visiting the parks and other healthy recreational venues.

For more information, contact:
ZONG Headquarters
CMPak Complex, Plot# 47,
Kuri Road, National Park Road,
Chak Shahzad, Islamabad, Pakistan
Tel: +92-51-111-222-111
Fax: +92-51-111-031-031
Website: www.zong.com.pk

Towel Manufacturers’ Association of Pakistan felicitates Imran Khan on assuming office of Prime Minister of Pakistan

Karachi, August 27, 2018 (PPI-OT): Towel Manufacturers’ Association of Pakistan congratulates Prime Minister Imran Khan on assuming the office as the 22nd Prime Minister of Pakistan. The Business Community of Pakistan has high expectations from the incoming government since in its 5 years manifesto they have promised to resolve the issues faced by the exporters and provide a level playing field to businessmen for enhancing Pakistan’s exports.

We, The Towel Manufacturers Association, are ready to assist the newly elected Government at every step that it will take in the interest of the country and the business fraternity. We will fully engage with the government to fulfil its vision of doubling the exports in the next 5 years. We are confident that by creating business friendly environment, the government can tap into the unlimited potential of Pakistan’s exports which will create jobs and earn much needed foreign exchange. This is the only way to fulfil the dream of a prosperous Pakistan.

For more information, contact:
Head Office,
Towel Manufacturers’ Association of Pakistan
TMA House, 77-A, Block ‘A’,
Sindhi Muslim Cooperative Housing Society,
Karachi – 74400, Pakistan
Tel: +92-21-34382801-4
Fax: +92-21-34551628
Email: tma@towelassociation.com
Website: www.towelassociation.com

Islamabad Chamber of Commerce and Industry for focusing on exports to reduce trade and fiscal deficits

Islamabad, August 27, 2018 (PPI-OT): Sheikh Amir Waheed, President, Islamabad Chamber of Commerce and Industry (ICCI) has called upon the PTI government to cooperate with the private sector in promoting exports as without exports promotion, it was not possible to overcome the rising trade and fiscal deficits of the country. In a statement issued here Saturday, he said during FY 2017-18, Pakistan’s trade deficit surged to $34 billion which was record increase in the country’s history. It reflected that instead of promoting exports, the country was depending on imports to meet its needs.

He said Pakistan’s exports have been struggling for the last many decades while the exports of its neighbours have been improving. He said in 1992, Bangladesh’s exports were $2.098 billion which have increased to $35.96 billion by 2017. However, Pakistan’s exports improved from $7.3 billion in 1992 to $21.569 billion in 2017 which showed that the country remained unsuccessful in promoting exports according to its real potential. He said Pakistan was mostly depending on textiles for export while its share of textiles exports in world market have come down from 2.2 percent to 1.7 percent.

He said during the last 25 years, India has reduced its dependence on textiles exports by focusing on IT services, auto parts, pharmaceuticals and light engineering goods due to which India’s exports have crossed $298 billion in 2017. He urged that Pakistan should also focus on diversification of exports. He emphasized that government should support the private sector in value addition of products so that Pakistan could improve its exports by exporting value added products.

Muhammad Naveed Malik – Senior Vice President and Nisar Mirza Vice President, ICCI said that energy cost in Pakistan was highest in the region which was a major hurdle in promoting exports. They stressed that the government should focus on indigenous and renewable energy sources to produce cheap energy that would bring down the cost of doing business, foster business activities and promote exports.

For more information, contact:
Islamabad Chamber of Commerce and Industry (ICCI)
Chamber House, Aiwan-e-Sanat-o-Tijarat Road,
Mauve Area, G-8/1, Islamabad, Pakistan
Tel: +92-51-2250526, 2253145, 8432676
Fax: +92-51-2252950
Email: icci@brain.net.pk
Website: www.icci.com.pk

SimSim and EFU Life join hands towards Inclusive insurance

Lahore, August 27, 2018 (PPI-OT): SimSim, Pakistan’s leading mobile account has entered into collaboration with EFU Life for providing Life Insurance cover to its customers. This platform is revolutionizing digital commerce growth in Pakistan and has been focusing on providing reliable cost effective services to its customers which are evident from its recent campaign focusing on free funds transfers. The signing ceremony was recently held in Lahore.

The aim of this partnership is to provide customers relief from the complicated process of subscribing and claiming insurance. SimSim will offer a simple and intuitive subscription process using which customers can buy insurance in just a few clicks. It intends to build insurance in the customer journey through various new and innovative ways. Life insurance in Pakistan is often perceived as an extra expense and a tedious task to obtain, however this collaboration aims to change that mindset.

EFU Life, a leading Life Insurance Company has been a proponent of insurance services being offered over digital channels and is actively exploring different models to incorporate Insurtech in the customer life cycle. While sharing his views on the collaboration with SimSim, Mr. Mohammed Ali Ahmed, Chief Strategy Officer, EFU Life, stated, “We are delighted to join hands with SimSim. Our collaboration is a major step towards the goal of financial inclusion and exploring Insurtech in Pakistan. Through this technology driven platform, our mutual, potential customers will be able to avail insurance in an exceedingly stress-free manner. I’m confident that this partnership will serve to benefit all parties involved but the biggest winner here is most definitely the customer.”

Commenting on this occasion, Mr. Tughral A. T. Ali the Head Branchless Banking at FINCA said, “We are proud to have EFU Life on board as our partner. Our aim is to provide our customers with a one-stop hassle-free insurance service. We are certain that this partnership will be mutually beneficial for both our customers. Our goal is to provide customers value in all of our products and addressing pain points which include simplifying complicated processes while remaining compliant to regulation. This collaboration is a key step towards achieving that goal.”

For more information, contact:
FINCA Microfinance Bank Limited
Formerly Kashf Microfinance Bank Ltd.
387-E, Johar Town, Lahore Pakistan
Tell: +92-42 35222852-3
Fax: +92-42 35222851
Web: www.FINCA.org