Daily Archives: September 4, 2018

AIGP Karachi Amir Shaikh announces setting up of Madadgar 15 in SITE Association

Karachi, September 04, 2018 (PPI-OT): ss“Police Helpline 15 service will be provided in SITE Association’s Self Security System office shortly to facilitate the industrial community.” This was announced by the Additional Inspector General of Police (Karachi Range) Dr. Amir Ahmed Shaikh, during his visit to SITE Association of Industry on invitation of President Jawed Bilwani to inaugurate the new building of SITE Self Security System.

While addressing the industrialists of SITE, he said that providing safety and security to citizens is the prime responsibility of police. He lauded Jawed Bilwani stating that he is the man of action who has always turned his commitments into reality. SITE Self Security System is the role model to be followed and replicated by other Associations which has covered the entire SITE Area with network of CCTV cameras and 24/7 real time monitoring with professional staff.

He confirmed to provide CCTV recording services to SITE Association to speed up apprehending of criminals and reduce investigation time. Focal persons shall also be appointed to liaise with SITE Self Security System Office. He also announced that as per proposal of Mr.Zubair Motiwala, he will pay visit to SITE once in a month to have an open house session with the industrialists to exchange views on law and order situation and improving policing system in the area.

Exchanging views with the industrial community, he informed that the Chief Minister Sindh has promised and assured to allocate funds to make Karachi a safe city while developing CCTV Network all over Karachi for surveillance as it is not possible to deploy policeman at every nook and corner of city. A Rapid Police Squad comprising of 2000 police personnel shall also be deployed who shall patrol all over Karachi.

He admitted that the Karachi Police has been facing lack of police personnel to cover the metropolitan city for effective policing while efforts are underway to increase police force. He added that the Sindh Police is also working on reforms to improve emergency response, investigation and forensic procedures. He was of the view that healthy criticism on police is always welcome but they also deserve recognition and appreciation because they risk their lives for the safety of citizens as from year 2011 to-date more than 546 police personnel have been martyred in the line of duty.

To combat with crime, he stressed upon the need to report the crime and lodge FIRs. He informed that in addition to helpline, WhatsApp 0343-5142770, facebook page “Karachi Police Office” is also created for the purpose to promptly respond to the complaints. He apprised that he was paying surprise visits to various Police Stations to check out their functioning and staff attendance. He said that the big crimes like terrorism and target killings have been almost curtailed.

Now efforts have been focused on to reduce the street crimes wherein mostly youth is involved who takes drugs and later fall into the hands of criminal elements who give them arms to loot the citizens. He requested the industrialists to create more employment opportunities as mostly youth involved in crime was due to unemployment. He also urged the privileged to establish rehabilitation centres for youth who has become the prey of narcotics and criminal elements.

Earlier Jawed Bilwani, President, S.I.T.E. Association of Industry along with Office Bearers and eminent industrialist welcomed Dr Amir Ahmed Shaikh, Addl. Inspector General Police (Karachi) to S.I.T.E. Association. After the inauguration of new building of SITE Self Security System, a briefing was given on the available facilities. In his welcome address, Jawed Bilwani recognized the services of Dr Amir Ahmed Shaikh on his previous assignments and hoped that he will perform beyond par to maintain peace in Karachi.

He apprised that SITE Self Security System was providing a platform to monitor and report the criminal activities and facilitate industrial community to maintain safety and security. The initiative was operated on personal contributions from the industries. To maintain security in the area, SITE Association has provided its owned and maintained 10 motorcycles to police force for patrolling. Number of bikes will be increased sooner as per plan. Monitoring is done on 24/7 basis through 143 CCTV cameras installed at different locations. Besides 28 pickets have been constructed where Guards have been deployed. To further improve security, protective walls have been constructed at 31 locations.

He requested to introduce a verification desk and provide access to SITE Self Security System for checking criminal record of persons intended to be hired by industries for purpose of security guards and gatekeepers. He informed that efforts were underway to provide facilitation to industries under one roof at the Association in respect to all important government department and authorities.

Zubair Motiwala, Former Chairman, S.I.T.E. Association of Industry speaking on the occasion stated that with industries participation, on self-initiative and personal contribution the safety and security situation in the SITE area has improved. Consequently, the law and order situation of the city can also be improved if deserving attention is accorded by the Government.

He was of the view that provided Government offers a better salary package, facilities and infrastructure the efficiency and performance of Police will increase. He recalled that in the past with the intervention of the then DG Rangers Maj. General Rizwan Akhtar entire SITE area explored, maps were made and police pickets and walls were constructed on sensitive entry and exit points which helped battling against criminals.

He demanded to give worthy attention to the SITE area which contributes 30 percent to the national exports and generates massive employment. He also requested to provide facility of recording CCTV in the SITE Self Security System to produce post-crime recording to arrest the culprits.

President Jawed Bilwani also presented a memento to Additional Inspector General of Police (Karachi Range) Dr. Amir Ahmed Shaikh. Senior Vice President Abdul Rasheed, Vice President Saleem Nagaria, Managing Committee and a large number of member industrialists attended the occasion.

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

PCDMA Chairman Arif Lakhani demands of PM to reinstate Final Tax regime

Karachi, September 04, 2018 (PPI-OT): PCDMA Chairman Mr. Arif Lakhani has demanded to reinstate Final Tax regime and Open Account to Prime Minster Imran Khan, Federal Minister for Finance Mr. Asad Umar and FBR Chairman Mohammad Jahanzeb Khan, also appreciated the efforts for economic reforms of Prime Minister Imran Khan and his team especially Mr. Asad Umar Federal Minister for Finance. He also request to discuss the problems of commercial importers in cabinet and solve accordingly.

Arif Lakhani also said that minimum 6% withholding tax under final fixed tax regime on import stage is totally justifying so reinstate the old final tax regime. Commercial importer pay advance tax on Import stage and on this account open and make audit is not acceptable at any cost.

Chairman PCDMA also said that recent SBP has fixed 10 thousand dollar for advance payment and give relief to only 4 specified sectors under open account is not correct decision but Federal Government should adopt uniform policy and give relief to all sectors. He further said foreign seller give goods on loan and there is no involvement of any amount of Government, so will take benefit on open account and at the same time there is no pressure on foreign reserve.

Arif Lakhani has demanded new Chairman of FBR that their should be no discrimination between commercial and industrial importers and there should be not 2 tax regime. There should be a level playing field for commercial importers also. Government has abolish value addition tax from commercial importers otherwise small industries will abolished.

For more information, contact:
Secretary General
Pakistan Chemicals and Dyes Merchants Association (PCDMA)
Chemical and Dye House, Rambharti Street,
Jodia Bazaar, Karachi-74000
Tel: +92-21-32432752, +92-21-32439124
Fax: +92-21-32430117
Email: pcdma2@gmail.com
Website www.pcdma.com.pk

US company i-Life Digital launches top-selling ZED Series Notebooks and All in One PC in Pakistan

Karachi, September 04, 2018 (PPI-OT): US-based I-Life Digital Technology, one of the leading computer manufacturer of Middle East and Africa is set to enter the Pakistan market with its ultra-slim notebooks, 2-in-1 devices and portable All in One PC.
“I-Life is one of the largest computer manufacturers in the MEA region and one of the world’s fastest-growing PC companies with presence in over 50 countries. I-Life is happy and proud to launch its international products range in Pakistan. In our maiden launch, we bring our flagship ZED Series which is loved by budget-smart consumers across Middle East, Turkey, Africa and the CIS Region. I-Life offers modern devices which focus on thin and light devices.

On partnering with Techsirat Mr Bhatia said, “Techsirat’s’ unparalleled reach and service delivery made it a natural choice for our entry strategy for the Pakistan market. We are happy to partner with Techsirat a Subsidiary of Muller and Phipps to bring world-class products. Pakistan consumers’ bold and aspirational needs require an equally amazing product. It is our mission to develop innovative products that enhance people’s lives. Our products will address the open space in the affordable computing category, giving customer wider options, in Pakistan.”

Abdul Wahid, Director Telecom and IT at Muller and Phips said “We are excited to partner with I-Life for its range of budget-smart devices for the Pakistan market. We are confident that I-Life’s product proposition coupled with Tech Sirat’s unique distribution capabilities to provide the widest range of products seamlessly across the market will go a long way. I-Life with its range of affordable products will cater to the demands of the consumer and thereby, grow the market.”

On behalf of Microsoft, Ricardo Davila, WW LDP Lead said, “Microsoft congratulates I-Life for their entry into India market, where we see tremendous opportunities for our Windows devices for growth. I-Life has been a fast-growing partner for us in the Middle East and Africa in the last few years. We believe Pakistan customers will enjoy the portfolio of devices i-Life offers with Genuine Windows.”

I-Life won best ‘Compete Partner for the Year 2017’ award and ‘Business Expansion 2018’ award from Microsoft for innovation, excellence and resilient business growth year-on year. The entry of -Life into markets have opened a new segment of affordable devices.

List of the products from i-Life would be releasing in Pakistan.

ZED AIR HStunningly Slim body and impressive tactile finish. 14-inch laptop Zed Air H maintains the I-LIFE assurance of slim and light device. It comes with Intel® Quad Core processor and an increased storage the Zed Air H can run the applications you need the files and run the applications you need the files and run the applications you need every day with its enclosed 500 GB external hard drive with preloaded latest Windows 10. The sleek cover offers a deceptively strong touch of class and puts the total laptop weight at just 1.67 kgs . The laptop is on shelves for just Rs. 28,999 /- only.

ZED AIR H6Zed Air H6 was designed for everyday multitasking and entertainment for any age range of users. It features with Intel® Celeron processor and 6GB* DDR III RAM and USB 3.0 for 10 times faster data transfer speed. It gives you a satisfying multitask computing and multimedia experience. Zedair H6 comes equipped with high quality crystal clear sound to provide maximum cinematic experience. Zed Air H6 has an impressive capacity to store the files and run the applications you need every day with its inbuilt 500 GB external hard drive with preloaded latest Windows 10.With it’s bright HD display, you can truly feel the real cinematic experience.
Price in Pakistan is Rs. 31,999/-

ZED AIR PLUSA perfect combination of beauty and performance, the stylish Zedair Plus is powered by a Intel® Celeron processor with 6GB DDR lll RAM. Also has large capacity of 500 GB HDD. With preloaded latest Windows 10 and large 15.6 inch Full HD IPS screen it’s the ideal laptop for daily computing and entertainment. Zedair Plus provides best visuals for any type of content. 1080 pixel increases sharpness and contrast so you’ll enjoy the best possible image quality. The Zedair Plus is powered by latest Intel® Celeron™ processor, with 6GB DDR lll RAM. And with ultra-fast dual-band 802.11bgn Wi-Fi, you can enjoy speeds of up to 2.4GHz. From daily computing tasks to entertainment, this versatile laptop has everything you need. Price in Pakistan is Rs. 34,999/-

ZED AIR 3Zed Air 3 is an Ultra-thin and Ultra-light laptop with 13.5mm thickness and weighing only 1.28 kgs. Its ultra-slim bezel is just 8.5mm wide, giving ZedAir 3 a class-leading 80% screen-to-body ratio. More importantly, it gives you a view of the stunning 13.3-inch Full HD IPS screen. ZedAir 3 is running the latest Intel® Pentium™ processor up to 2.5 GHz for a better processing and graphic performance. Multitasking, working with connected devices and using various software and applications is convenient with preloaded latest Windows 10.Price in Pakistan Rs. 36,999/- only.

ZED NOTE II ZED Note II is the latest convertible laptop which provides best of both world’s Notebook and Tablet PC with its 360-degree convertible hinges. The specially designed convertible laptop provides unlimited work and play opportunities, being incredibly powerful in its category with the latest Intel® Quadcore processor and preloaded Windows 10 for smooth performance. For ultra-fast connectivity, Zednote features 802.11ac Wi-Fi for to work online with no barrier. Experience the optimum sound quality with Zednote. Full HD panel with wide-view technology, sRGB color gamut, and splendid display technology provide richer, deeper and more accurate colors – for any type of content. Customers are able to buy ZED NOTE II at Rs. 31,999/- only.

ZED BOOK II The ultraportable detachable laptop is designed to surprise. ZED BOOK is the one of the most beautiful ultraportable that’s also a 11.6inch Windows 10 tablet. Detach the tablet to work and play anywhere, and dock to enjoy the comfortable keyboard, smart gesture-enabled touchpad and advanced connectivity. Style, power and convenience — ZED BOOK gives you it all! ZED BOOK II also comes with a touch pen inside the box.
Price in Pakistan is Rs. 31,999/-

ZED PC. The portable All-in-One designed to use as a device for anywhere in your house. ZEDPC portable All-in-One together to help cook, play games, work on photos, listen to music, watch movies, office work and more. The PC’s capacitive 10-point multi-touch display with its edge-to-edge design enables smooth touch control. Hear sound the way it was meant to be heard over hi-fi speakers. This amazing audio combo on the Zed PC provides smooth, balanced sound for great cinematic experiences. Plus, you can play songs from your mobile devices on the Zed PC speakers via Bluetooth pairing. The portable AIO’s price in Pakistan is Rs. 39,999 /- only.

For more information, contact:
Head Office,
Muller and Phipps Pakistan (Pvt.) Limited
1st and 3rd Floor, Uzma Court, Main Clifton Road,
Karachi, Pakistan
Tel: +92-21-35867501-03, +92-21-35834471-73
Fax: +92-21-3587092, +92-21-35871514
Website: http://mulphico.pk/

PACRA Maintains Entity Ratings of Engro Elengy Terminal (Private) Limited

Lahore, September 04, 2018 (PPI-OT): The ratings reflect sustained operations of Engro Elengy Terminal (Private) Limited (EETPL), given revenues and cash flows are guaranteed by Sui-Southern Gas Company (SSGC), subject to adherence to agreed parameters. SSGC, the sole intermediary (rated “A+”), has demonstrated timely payments against committed purchases despite challenges. The business profile of EETPL is strong, emanating from GOP’s commitment to manage prevailing energy crises in the country by way of imported LNG. Thus, a sizable and recurring stream of income is ensured.

The ratings incorporate rapid developments in the industry owing to gas shortage in the domestic market. Engro Elengy continues to meet its availability (~95%) – an outcome of technically sound operations and maintenance operator, Excelerate Energy (EE), is a key source of comfort in managing the plant’s operations. A stable stream of revenue leads to build up of surplus cash, which after making committed payments to lenders would be distributed to sponsors regularly, as per policy, going forward.

The working capital cycle is solely the differential of the days of receipts from SSGC and payments to suppliers. Payments from SSGC are secured by way of Stand-By Letter of Credit (SBLC), due to which chances of deterioration in the Working capital cycle are very low. This keeps working capital needs under check. Company’s total long-term debt of PKR 6,345mln as at end-Jun18, payable till Dec23.

Corporate Guarantee from Engro Corporation soothes financial risk. The ratings take significant support from EETPL’s association with Engro Corporation Limited, which has demonstrated financial strength.
The ratings remain dependent on smooth operations of the terminal, and conduct of SSGC with reference to the timely payments to Engro Elengy Terminal. Meanwhile, debt service coverages and other financial related metrics must remain strong.

For more information, contact:
Analyst
The Pakistan Credit Rating Agency Limited (PACRA)
Awami Complex, FB1, Usman Block New Garden Town,
Lahore – Pakistan
Tel: +9242 586 9504 -6
Fax: +9242 583 0425
Email: hammad.rashid@pacra.com
Web: www.pacra.com

JCR-VIS Assigns Initial Ratings to Pakistan Cables Limited

Karachi, September 04, 2018 (PPI-OT): JCR-VIS Credit Rating Company Limited (JCR-VIS) has assigned initial entity ratings of ‘A/A-1’ (Single A /A-One) to Pakistan Cables Limited (PCL). Outlook on the assigned ratings is ‘Stable’. The assigned ratings incorporate PCL’s position as the leading wire and cable manufacturer in the country and strong brand strength and reputation as a provider of quality cables. Business risk profile is underpinned by growing demand for wires and cables and extensive experience and track record of the management team.

Overall corporate governance framework is supported by sound board oversight, stable and professional management team and focus on transparency and disclosures. Going forward, ratings are dependent on timely completion of proposed expansion while maintaining financial indicators within benchmarks for the assigned ratings.

The wiring and cable industry is characterized by significant competition with existence of several large players and numerous small unorganized firms. Business risk profile is supported by stable and growing demand for wires and cables in the country from housing, energy, automotive, construction and other segments. However, business to business segment is exposed to competition from Chinese imports while retail sales face competition from informal manufacturers operating domestically.

PCL posted improvement in profitability during FY17 on account of growth in sales, lower effective tax rate and one-time reversals. Liquidity profile draws support from adequate cash flows in relation to outstanding obligations. Debt profile of PCL is largely short-term in nature while leverage indicators have remained within manageable limits. The Company is in the process of expansion of manufacturing facilities which will enhance production capacity and further augment cash flows. Right shares for planned expansion were announced with proceeds realized in July’2018.

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

Muhammad Saqib Aziz takes over the charge of Chairman PIACL

Karachi, September 04, 2018 (PPI-OT): Secretary Aviation, Mr. Muhammad Saqib Aziz has taken over the charge of Chairman PIACL. The decision was taken by the airline’s Board of Directors at a meeting held at PIA Head Office.

Mr. Saqib Aziz holds a vast experience of administration in the Civil Services of Pakistan. Before joining as Secretary Aviation, he served as Secretary Capital Administration and Development Division. The position of Chairman PIACL was lying vacant after Mr. Ijaz Munir’s transfer as Secretary Establishment Division.

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