Author Archives: Economic Outlook

Board of directors meeting of IGI Life Insurance Company Limited

Karachi, IGI Life Insurance Company Limited informed Pakistan Stock Exchange that board of directors meeting of the company will be held on August 28, 2018 at Lahore. The agenda of the meeting will to consider the Financial Accounts for the period ended June 30, 2018.

Further, the company has declared the closed period from August 20, 2018 to August 28, 2018.

IGI Life Insurance Limited (IGI Life) has marked the entry of IGI Financial Services into the Life Insurance arena through acquisition of controlling shares in American Life Insurance Company (Pakistan) Limited in April 2014. IGI Life is a leading provider of Life Insurance, Accident & Health Insurance and Employee Benefit Solutions. IGI Life is also amongst the first few companies who commenced Family Takaful business in 2015 under Window Takaful Operations enabling the Company to offer Shari’ah compliant products.

The symbol “IGIL” is being used by the stock exchanges for the shares IGI life Insurance.

Board of directors meeting of IGI Life Insurance Company Limited

Karachi, IGI Life Insurance Company Limited informed Pakistan Stock Exchange that board of directors meeting of the company will be held on August 28, 2018 at Lahore. The agenda of the meeting will to consider the Financial Accounts for the period ended June 30, 2018.

Further, the company has declared the closed period from August 20, 2018 to August 28, 2018.

IGI Life Insurance Limited (IGI Life) has marked the entry of IGI Financial Services into the Life Insurance arena through acquisition of controlling shares in American Life Insurance Company (Pakistan) Limited in April 2014. IGI Life is a leading provider of Life Insurance, Accident & Health Insurance and Employee Benefit Solutions. IGI Life is also amongst the first few companies who commenced Family Takaful business in 2015 under Window Takaful Operations enabling the Company to offer Shari’ah compliant products.

The symbol “IGIL” is being used by the stock exchanges for the shares IGI life Insurance.

Board of directors meeting of Cherat Cement Company Limited

Karachi, Cherat Cement Company Limited informed Pakistan Stock Exchange that board of directors meeting of the company will be held on August 29, 2018 at Karachi. The agenda of the meeting will to consider the Annual Accounts for the period ended June 30, 2018.

Further, the company has declared the closed period from August 20, 2018 to August 29, 2018.

Cherat Cement Company Limited is a company incorporated in Pakistan in 1981 as a public limited company. The foundations of the company are laid under the Companies Ordinance, 1984. The principal activity of the company is manufacturing, marketing and sale of cement. It also manufactures high quality grey Portland cement. It is equipped with updated and approved production and quality control systems. It is one of the largest producers and suppliers of cement in the province of NWFP. The production capacity of the company is 2500 tons/ day. The stocks of the company are quoted on the Karachi, Lahore and Islamabad stock exchanges of Pakistan. The plant is located near Nowshera and the factory is located near the Cherat Hills. The registered office of the Company is located at in District Nowshera of Khyber Pakhtunkhwa province.

The symbol “CHCC” is being used by the stock exchanges for the shares of Cherat Cement Company Limited.

Board of directors meeting of Cherat Cement Company Limited

Karachi, Cherat Cement Company Limited informed Pakistan Stock Exchange that board of directors meeting of the company will be held on August 29, 2018 at Karachi. The agenda of the meeting will to consider the Annual Accounts for the period ended June 30, 2018.

Further, the company has declared the closed period from August 20, 2018 to August 29, 2018.

Cherat Cement Company Limited is a company incorporated in Pakistan in 1981 as a public limited company. The foundations of the company are laid under the Companies Ordinance, 1984. The principal activity of the company is manufacturing, marketing and sale of cement. It also manufactures high quality grey Portland cement. It is equipped with updated and approved production and quality control systems. It is one of the largest producers and suppliers of cement in the province of NWFP. The production capacity of the company is 2500 tons/ day. The stocks of the company are quoted on the Karachi, Lahore and Islamabad stock exchanges of Pakistan. The plant is located near Nowshera and the factory is located near the Cherat Hills. The registered office of the Company is located at in District Nowshera of Khyber Pakhtunkhwa province.

The symbol “CHCC” is being used by the stock exchanges for the shares of Cherat Cement Company Limited.

Stakeholder departments express satisfaction at speedy a consistent pace of Doing Business Reforms in Sindh

Karachi, August 17, 2018 (PPI-OT): The Government of Sindh is implementing historic Doing Business (DB) Reforms across different departments, said the Chairperson, Sindh Board of Investment (SBI), Ms. Naheed Memon, while chairing a Progress Meeting on implementation of Sprint-2 of Doing Business Reforms in Sindh.

The meeting was attended by officials from stakeholder departments from the Government of Sindh, namely Planning & Development Board, Board of Revenue, Sindh Building Control Authority, Sindh Revenue Board, Sindh Employees Social Security Institution (SESSI), Karachi Development Authority (KDA), Labour & Human Resource Department, and Industries Department.

The World Bank team was represented by Mr. Amjad Bashir, Senior Economist, The World Bank Group. Participants expressed satisfaction over the progress of the Sprint-2, and also deliberated third-party validation of reforms executed so far. The reforms executed will be audited by one of the Big Four Auditing firms.

During the meeting, the Chairperson SBI, who is also the focal person for Doing Business Reforms in Sindh, reviewed progress updates by relevant agencies from the Government of Sindh. Ms Memon stressed on the importance of facilitating online payments as something crucial to business reforms in Sindh as part of her vision. She reiterated that all agencies should ensure on-ground implementation of these reforms.

The future plans for furthering the Doing Business agenda were shared at the Progress Meeting. The main points of the agenda of Sprint-2 include: (a) Setting up of facilitation centres at Labour Department, Industries, SESSI Directorates and the Karachi Chamber of Commerce and Industry; (b) One-Window Operation at Sindh Building Control Authority; and (c) Property Registration Reforms at Board of Revenue.

The facilitation centres will house an online portal which automates the business registration processes at all provincial departments. These centers will serve as a single port-of-call for all matters related to business registration and complaints. The One-Window Operation at Sindh Building Control Authority (SBCA) will simplify the procedure of applying and obtaining Construction Permits through automation. Similarly, the Board of Revenue will consolidate reforms made earlier by introducing new facilities and ensuring mainstream usage of available resources.

For more information, contact:
Information and Archives Department
Directorate of Press Information
Government of Sindh
95-Sindh Secretariat 4-B, Karachi, Pakistan
Tel: +92-21-99204423, +92-21-99204401
Email: pressinformationzubair@gmail.com
Website: http://sindhinformation.gos.pk

State Bank of Pakistan announces Eid-ul-Adha holidays

Karachi, August 17, 2018 (PPI-OT): The State Bank of Pakistan will remain closed from 21st to 23rd August, 2018 (Tuesday, Wednesday and Thursday) on the occasion of Eid-ul-Adha.

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