Daily Archives: September 13, 2018

2018 WTMC to explore internationalization and transformation of textile industry

SHAOXING, Zhejiang, Sept. 13, 2018/Xinhua Finance Agency-AsiaNet/ — 2018 The First World Textile Merchandising Conference (2018 WTMC) will be held at the Keqiao District, Shaoxing City of east China’s Zhejiang Province in September 20-21, to explore new patterns of internationalization and transformation of the textile industry.

It is expected that well-known enterprises, top fashion institutions, industry associations, design institutes from more than 20 countries will participate in the 2018 WTMC to discuss the status quo and future of the world’s textile industry and promote the cooperation in the textile industry chain under the Belt and Road Initiative.

China’s textile industry has to strengthen international cooperation, actively promote cross-border flows of resources such as products, production capacity, technology, capital, and talents, strengthen product innovation, and advance the industrial intelligence and service transformation in the process of the industrial transformation and upgrading, according to Sun Ruizhe, president of the China National Textile And Apparel Council (CNTAC), earlier at the press conference of 2018 WTMC.

In recent years, markets along the Belt and Road routes have gradually become a new engine for the foreign trade development of Keqiao District of Shaoxing City. As an important textile industry base in China, Keqiao District has a full textile industry chain including raw materials, textile machinery, fabrics, home textiles and garments, as well as a large textile distribution center, China Textile City.

According to statistics, there are nearly 500 enterprises in Keqiao which have made investment in 65 countries and regions.

SOURCE: China Economic Information Service

JCR-VIS Assigns ‘AA’ IFS Rating to IGI General Insurance Limited

Karachi, September 13, 2018 (PPI-OT): JCR-VIS Credit Rating Company Limited has assigned Insurer Financial Strength (IFS) rating of ‘AA’ (Double A) to IGI General Insurance Ltd. (IGI General). The rating signifies very high capacity to meet policyholder and contract obligations. Risk is considered modest but may vary slightly over time due to business /economic conditions. Outlook on the assigned rating is ‘Stable’.

The assigned rating incorporates strong sponsor profile with IGI being a wholly owned subsidiary of IGI Holdings Limited (IGIHL – formerly, IGI Insurance Limited). IGIHL belongs to a prominent business conglomerate, Packages Group, which began operations as a paper and paperboard manufacturer in 1957. As part of a strategic restructuring, the general insurance and investment segments of IGIHL were transferred into two distinct entities. The rating also takes into account positive results from underwriting operations and liquidity profile of IGI General.

Rating takes into account the competitive environment in which the company operates. IGI General has grown its premium base by more than 20% in the last two years. In view of its growth orientated strategy, IGI General plans to launch new insurance products; impact of these developments will need to be monitored over time. Along with a steady growth in business volumes, IGI General also maintained an adequate risk profile.

The rating also draws comfort from its sound reinsurance panel and treaty structure. Enhanced focus on underwriting quality has allowed the company to report a healthy bottom line over the three-year horizon. Despite a higher claims ratio, on net basis, IGI General posted an increased underwriting profit. However, combined ratio was reported higher than the industry average. Profitability indicators will need to be maintained to be commensurate with the assigned rating.

Given the restructuring of IGIHL, capitalization levels allocated to IGI General is placed at Rs. 2.09b at end-December 2017 (2016: Rs. 13.6b). Rating is underpinned with growth in business volumes to support equity levels. Leverage indicators may need to be further strengthened over time.

IGI General has a structured investment management and oversight mechanism in place and also utilizes the expertise of group investment management function to manage its investments. Investment portfolio of IGI General is mostly tilted towards fixed income avenues. There has been stability in senior management team. IT infrastructure in place includes an Oracle based ERP system.

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

Dr. Banuri wants Pakistani Researchers to Share Technical Expertise with Islamic Countries

Islamabad, September 13, 2018 (PPI-OT): The Higher Education Commission (HEC) will encourage Pakistani researchers to provide technical assistance to our partner countries, especially our partners in the Islamic world. This was stated by Dr. Tariq Banuri, Chairman, Higher Education Commission (HEC) during a meeting with Dr. Ahmed Yousif Ahmed Al-Draiweesh, President, International Islamic University Islamabad (IIUI) and Dr. Masoom Yasinzai, Rector, IIUI who called on him at the Commission Secretariat.

Dr. Draiweesh appreciated the HEC’s role in guiding universities and encouraging them to produce research relevant to the country’s needs as well as the needs of the Muslim Ummah. As the Acting Coordinator General, COMSTECH (OIC Standing Committee on Scientific and Technological Cooperation), Dr. Banuri shared his vision to bring the Organisation of Islamic Cooperation (OIC) member countries together to mobilise mutual technical assistance and address the issues of climate change, energy, water scarcity, agriculture and disaster management and other problems requiring scientific solutions.

Felicitating the Chairman on the start of Hijri Year 1439, Dr. Draiweesh and Dr. Yasinzai said that the IIUI plans to organise a conference to promote sectarian harmony and peaceful coexistence in line with Paigham-e-Pakistan, a verdict signed by 1,800 scholars from various schools of thought. They said eminent religious scholars from various sects will be invited to reflect and share their views in the light of Quran and Sunnah.

Dr. Banuri appreciated the IIUI’s efforts to promote sectarian harmony. He said the HEC fully supports the objectives of Paigham-e-Pakistan and especially the endeavours to mobilise Pakistani youth, faculty and civil institutions behind a national consensus agenda.

For more information, contact:
Director (Media)
Higher Education Commission, Pakistan (HEC)
Sector H-9, Islamabad
Tel: +92-51-90402404, +92-51-90402412
Email: aikram@hec.gov.pk
Website: www.hec.gov.pk

Islamabad Police conducts flag march

Islamabad, September 13, 2018 (PPI-OT): Islamabad Police on Wednesday conducted flag march with an objective to maintain peace and tranquillity in the city during Muharram ul Haram. The flag march was conducted under the supervision of SP (Industrial Area) Hassam bin Iqbal and was participated by all SDPOs and SHOs of Industrial Zone, Islamabad Traffic Police, Police Commandos, Rescue 15 police and police patrolling officials.

Flag march started from Pakistan Sports Complex and culminated at the same point after passing through Dhokri Chowk, Rawal Dam Chowk, Shehzad town, Tramri Chow Lehtrar road, Khana Bridge, Koral Chowk, PWD Housing Society, Kak Bridge to Kahuta road, Imam Bargah Haideri in Sihala, Imam Bargah Niazian, Epxressway, Sain Boota shrine, Faizabad, I-8 Markaz, Imambargah Jafferia I-10 Markaz, Imam Bargah Moosa Kazim, Imambargah Baltastania Police Line Headquarters, Kashmir Highway, Jhugi Syedan, Imam Bargah Qadeemi to Imam Bargah Bait ul Hussain and Aabpara Chowk.

SSP (Operations) Islamabad Najeeb-ur-Rehman Bugvi has said that Islamabad police have ensured comprehensive security arrangements for Muharram-ul-Haram. He said that police would accomplish responsibility in an efficient manner to ensure protection to lives and property of citizens.

SSP Islamabad further said that purpose of this flag march was to show preparations of police and other law enforcement agencies during the Muharram ul Haram to counter any challenge and maintain peace in the city. He also directed all the SDPOs and the SHOs to make effective security arrangements in this regard in their respective areas. He added that Islamabad Police would maintain a close liaison with peace committees and organizers of Muharram Majalis and processions. He also directed for combing and search operation in Aghan and other slum areas and to maintain high vigilance at entry and exit points of the city.

For more information, contact:
Islamabad Police
Data centre H-11, Admin Block,
Police Head Quarter, Islamabad, Pakistan
Tel: +92-51-9258371 Ext (160)
Fax: +92-51-4443180
Email: webmaster@islamabadpolice.gov.pk
Website: https://islamabadpolice.gov.pk

Over 12,000 personnel to perform security duties during Muharram in Capital

Islamabad, September 13, 2018 (PPI-OT): As many as 12,000 personnel of Islamabad Police, Pakistan Rangers and FC would perform security duties during Muharram ul Haram and to maintain high vigilance to thwart any untoward incident. Islamabad Police have finalized comprehensive security arrangements for the processions, religious gatherings during Muharram ul Harram and decided to launch combing as well as search operations in various slum areas of the city including Afghan habitats to ensure fool proof security.

This plan has been prepared by SSP Islamabad Najeeb-ur-Rehman Bugvi following directions of IGP Islamabad Jan Muhammad. All wings of Islamabad police have been also given directions to ensure complete coordination for success of this plan. The SSP has directed all SDPOs and SHOs to launch effective search operation as well as combing activities in the slum areas of the city including Afghan habitats and enhance vigilance at all entrance points of the city. All SPs have been asked to monitor this search operation themselves and inform SSP’s office on daily basis about progress in this regard.

He also directed to maintain close liaison with peace committees and organizers of Majalis and processions. He said that cooperation of organizers should be ensured with the police and law enforcing officials. A total of 909 religious gatherings (Majalis) and 177 processions will be held. The SSP ha directed for strict security arrangements on these occasions and special checking of participants.

He said that it should be ensured to make arrangements for checking of participants of Majalis and processions thorough using metal detectors. Strict vigilance should be maintained to ensure that security measures are in place by the police as well as peace committees, the SSP maintained. The SSP also ordered all SHOs to make proper light arrangements after negotiations with concerned authorities and also to weed out bushes in the various areas in the vicinity of worship places.

The personnel of Rangers and police Commandoes along with vehicles would perform the security of Imambargahs. He said that it should be ensured that processions will pass through the fixed routes and timings of processions to be observed strictly. He has also directed for effective patrolling and use commando vehicles for the purpose.

The IGP directed for maintaining close coordination among all wings of Islamabad police and staff. The IGP asked SSP (Traffic) to ensure arrangements for avoiding any inconvenience to road users and special deployment should be made for smooth flow of traffic at alternate routes when processions will be carried out. It should be ensured that Parking lots to be far away from the processions with proper security arrangements there and metal detectors would be used at entry and exit points too.

The SSP (Operations) Najeeb-ur-Rehman Bugvi has said that walk through gates must be installed at all entry and exit points of Majalis and processions and it should be covered through large strength of policemen. He also asked all SPs, SDPOs to take steps to curb wall chalking or pasting posters which may hurt sentiments of people.

Patrolling officers must conduct visit of all the routes of Muharram processions and Imambargahs and rooftops to be covered by the police officials. The IGP said that lady Police should be deputed for the female gatherings while police officers and Jawans would perform security duties outside the Imambargahs.

All Station House Officers (SHOs) should get the complete bio data of those volunteers performing security duties. Peace committees would be asked to ensure that no stranger is allowed to stay in the worship places for security reasons during the month of Muharram. It will be also mandatory for the participants and organizers of the processions to get clearance certificates from the concerned police station before its start as a part of effective security measure.

Pillion riding has been also banned in Capital while brigade vehicles and ambulances will remain present in various areas. The vehicles of Rangers, CTF and police commandoes would also remain present around Imambargahs and Islamabad police would accomplish his responsibilities with dedication during Muharram-ul-Haram, SSP Mr. Bugvi added.

For more information, contact:
Islamabad Police
Data centre H-11, Admin Block,
Police Head Quarter, Islamabad, Pakistan
Tel: +92-51-9258371 Ext (160)
Fax: +92-51-4443180
Email: webmaster@islamabadpolice.gov.pk
Website: https://islamabadpolice.gov.pk

Chief Justice of Pakistan deposits One Lac Rupees in Supreme Court Diamer Bhasha and Mohmand Dam Fund

Islamabad, September 13, 2018 (PPI-OT): Hon’ble Chief Justice of Pakistan Mr. Justice Mian Saqib Nisar deposits one lac rupees in Supreme Court Diamer Bhasha and Mohmand Dam Fund. It is pertinent to mention here that his lordship has made this announcement in Special Transmission of 92 TV on Saturday i.e. 8.9.2018.

For more information, contact:
Supreme Court of Pakistan
Constitution Avenue, G-5/2,
Islamabad, Pakistan
Tel: +92-51-9220581-600
Fax: +92-51-9213452
Email: mail@supremecourt.gov.pk
Website: http://www.supremecourt.gov.pk