Category Archives: General Press Releases

Muffasar Malik concerned over soaring prices on arrival of Ramazan

Lahore, May 16, 2018 (PPI-OT): President of the Karachi Chamber of Commerce and Industry (KCCI), Muffasar Atta Malik, while expressing deep concern over soaring prices of many household commodities on arrival of Ramazan ul Mubarak, urged the Sindh government and Karachi Municipal Corporation to take stringent action against those profiteers and hoarders who are responsible for looting the masses and creating a situation in which many commodities largely being used during Sehri and Iftaar have gone beyond the reach of the public, particularly the poor segment of society.

In a statement issued, President KCCI noted that prices of many household commodities, fruits and vegetables etc. have been fearlessly raised by vendors due to lack of efficient price control mechanism, resulting in further intensifying the hardships being faced by the poor masses. “A large number of citizens have been complaining that the administration at district level have totally lost control over commodity prices, profiteering and hoarding”, he added.

Globally, President KCCI said, prices of various commodities are immediately reduced and special offers/ discounts are given to welcome the holy month of Ramazan ul Mubarak but unfortunately, in Pakistan, the greedy profiteers immediately raise prices of kitchen products to get maximum profits and hoarders create artificial shortages.

President KCCI mentioned that although Price Lists are regularly issued by KMC but no shopkeeper bothers to adhere the prices quoted in these lists and they continue to overcharge the customers without any kind of fear. “To deal with this issue, I would like to recommend that special inspection teams comprising honest officers should be deployed at all markets in liaison with relevant market associations whereas complaint centers should also be established to effectively monitor prices, promptly respond to any complaint and indiscriminate action must be taken against profiteers and hoarders by imposing fines and sending them to jail.

Muffasar Malik stressed that all concerned departments of Sindh government and KMC should monitor commodities’ prices, particularly fruits, vegetables and other important kitchen items on daily basis and no one should be allowed to exploit the public. “Strategies should be devised to provide some relief to common man who is already overburdened”, he added.

For more information, contact:
Director Press/Electronic Media and Public Relations
Karachi Chamber of Commerce and Industry (KCCI)
Aiwan-e-Tijarat Road, Off Shahrah-e-Liaquat,
Phone: +92-21-99218001-09
Fax: +92-21-99218040

Pak-Qatar Takaful Group conferred FPCCI Brands of the Year 2018

Karachi, May 16, 2018 (PPI-OT): Pak-Qatar Takaful Group, which comprises of Pak-Qatar Family Takaful Limited and Pak-Qatar General Takaful Limited was bestowed the Best Brand of the Year 2018 award by FPCCI apex body. Pakistan’s Federal Minister of Finance was the chief guest at the occasion.

Pak-Qatar Takaful is Pakistan’s Pioneer and largest Takaful Group operating for more than a decade with the largest branch network nationwide. The Group owns Pak-Qatar Family Takaful Limited and Pak-Qatar General Takaful Limited. Mr. Zahid Awan, CEO of Pak-Qatar General Takaful and Mr. Syed Nasir Ali, CEO of Pak-Qatar Family Takaful were present at the award ceremony organized by the FPCCI in Karachi.

Pak-Qatar Family Takaful Limited (PQFTL), is the first and largest dedicated Family Takaful Company in Islamic Finance industry. PQFTL is a progressive and a technology-driven Shari’a Compliant company providing innovative Takaful solutions in Pakistan since 2007. PQFTL is one of the fastest growing Family Takaful operators in the country with more than 70 branches in over 58 cities, in addition to over 3,500 bank branches in over 200 cities that provide BancaTakaful products.

The Company is chaired by Sheikh Ali bin Abdullah Al-Thani and sponsored by some of the strongest financial institutions from the State of Qatar. An independent Shari’a Advisory Board comprised of world renowned Shari’a scholars and chaired by Mufti Muhammad Taqi Usmani certifies all products and operations for Shari’a compliance.

The Company’s paid-up capital is in excess of Pak- Rs. 1.250 billion, with credit rating of ‘A’ (Positive Outlook) by JCR-VIS Credit Rating Company Limited. The company is the recipient of “Best Takaful Operator Award” from the International Takaful Summit, London, as well as from IFN Redmoney, Malaysia and the Best Takaful Company Award by the President of Pakistan from RTC, Islamabad.

Pak-Qatar General Takaful Limited offers a comprehensive products’ portfolio for the national General (non-life) Takaful market. The Company is chaired by Sheikh Ali bin Abdullah Al-Thani and sponsored by some of the strongest financial institutions from the State of Qatar.

The Company’s paid-up capital is in excess of Pak-Rs. 509 million, with credit rating of ‘A-’ (Stable Outlook) by the JCR-VIS Credit Rating Company Limited and ‘A’ Rating with Stable Outlook by Pakistan Credit Rating Agency Limited. The company continues to be the recipient of several domestic and international awards.

For more information, contact:
Marketing Manager,
Pak-Qatar Family Takaful Limited
Tel: +92-21-34326076
Cell: +92-331-9234567
Fax: +92-21-34386451

SBP approves local lending to telecom tower-sharing services company

Karachi, May 16, 2018 (PPI-OT): edotco Pakistan Private Limited (edotco PK) has successfully obtained approval from the State Bank of Pakistan (SBP), allowing local lenders to fund the acquisition by edotco PK of Jazz’s portfolio of 13,000 tower assets currently under Deodar Private Limited (Deodar).

The above marks another one of the approvals related to the transaction steps on the acquisition. The final regulatory approvals are in process of being granted by PTA on the change of shareholding structure in Deodar. This positive outcome from the Government is reflective of Pakistan’s push to increase foreign direct investment into the country while fulfilling its digital agenda

For more information, contact:
Dawood Hercules Corporation Limited
Dawood Centre, M.T. Khan Road, Karachi
Tel: +92-21-35686001
Fax: +92-21-35693416

CPEC Seminar at the British Parliament Experts term CPEC a Project of Unprecedented Economic Scale and Scope

Islamabad, May 16, 2018 (PPI-OT): The experts have said that China Pakistan Economic Corridor (CPEC) is an economic initiative of unprecedented scale and scope. They were speaking at a seminar organized by All Party Parliamentary Group (APPG) on Third World Solidarity held at the British Parliament on 15 May 2018, says a press release received from London here today. H.E. Syed Ibne Abbas, Pakistan High Commissioner to UK termed CPEC a transformative project, focused on economic integration of the region. He said there is a huge gap between perception and reality about Pakistan as well as the CPEC, which needs to be corrected.

The High Commissioner said Pakistan is located in a region surrounded by almost half of the world population and at the cross roads of the three critical regions of South Asia, South West Asia and Central Asia. The CPEC would bring about economic connectivity and prosperity to not only Pakistan but to all the three regions which can be connected through the CPEC infrastructure, added High Commissioner.

The Coordinator of the seminar, Alderman Mushtaq Lasharie CBE, Chairman Third World Solidarity said that China’s Belt and Road Initiative (BRI) and CPEC are projects of economic integration and a large number of countries stand to benefit from these initiatives. He also shared an account of his recent visit to Pakistan along with other CPEC experts, where they met relevant officials and received briefing on the projects.

They also visited various sites where CPEC projects are being implemented. Speaking at the seminar, former Senator Javed Jabbar said that CPEC is not just a bilateral project between China and Pakistan but it is a part of Belt and Road Initiative, and therefore, has global economic ramification. He said CPEC signifies that Pakistan is a very important place for lucrative investments.

Sir Mark Lyall Grant highlighted the issue of global misperception about Pakistan and said reality about the country is quite different from what it is generally portrayed. He underlined that Pakistan has great economic potential which China has rightly recognized and CPEC is the manifestation of that recognition. Sir Grant emphasized on UK businesses to get involved in CPEC. Kevin Hollinrake MP said that Pakistan is one of the fastest growing markets in the world and hence offers great opportunities for foreign investment. He further said that Pakistan has the entire critical infrastructure available for doing business with.

Liz Twist MP termed CPEC a great economic initiative. She quoted the experts predicting that CPEC would create 2.3 Million jobs in Pakistan between 2015-30. Keith Bennett, a CPEC expert was a key note speaker but could not attend the seminar; therefore, his paper was read out for the audience. Mr. Keith termed CPEC an inclusive and open project According to him CPEC projects are located in underdeveloped areas of Pakistan; therefore, they would uplift the economic conditions of local people by providing them with job opportunities.

He said that CPEC has opportunities for other countries in the fields of services like banking, legal expertise, IT and hotel industries. According to Keith CPEC is a unique initiative set to transform lives of the people of Pakistan. Faisal Rashid MP said CPEC offers great opportunities for British businesses. Aftab Siddiqui, Founder of UK CPEC Working Group, gave a presentation and highlighted salient features of the CPEC projects. According to him UK businesses could benefit tremendously from CPEC and BRI.

Jeff Cao, Economic Adviser to Mayor of London also speak about the huge opportunities offered by CPEC and impressed upon the investors to take advantage of these opportunities. Cindy Berman, Director Ethical Initiative, said that Pakistan has tremendous business opportunities particularly in textile industry. She said that UK is committed to retaining preferential treatment for Pakistani export goods even after Brexit. The seminar was attended by large number of CPEC and Belt and Road Initiative experts, British MPs, representative of British businesses, young entrepreneurs and member of the media.

For more information, contact:
Principal Information Officer,
Press Information Department (PID)
Tel: +92-51-9252323, +92-51-9252324
Fax: +92-51-9252325, +92-51-9252326

Changchun’s working on sports livelihood build people’s healthy lifestyle

CHANGCHUN, China, May 18, 2018 /Xinhua-AsiaNet/– Changchun International Marathon 2018 will be held in Changchun, the capital of Jilin Province on May 27th. More than thirty thousand sports enthusiasts at home and abroad will run on the streets of the city, according to Changchun Municipal Government. This is a big moment of Changchun’s working on sports livelihood that could be written into the government work report of the city. More and more citizens are enjoying a healthy lifestyle through various national fitness activities.

Changchun is located in the northeast of China. Due to its superior ice and snow resource and livable environment, it is one of the two cities in China that cultivated many Summer and Winter Olympic Games champions. The sports department of Changchun has continuously explored the ways to promote mass sports with competitive sports. Good results were gained after the government legislation and increasing investment. It is said that 70% of Changchun’s annual revenue is used for people’s livelihood and the benefit is expanding.

Changchun has the earliest automobile industry base and film production base of China. It is also the cradle of railway vehicles, optoelectronic technology, applied chemistry, biological products and so on. At present, Changchun is becoming a regional central city in Northeast Asia to speed up the revitalization of Northeast China. This year, the economy of Changchun continued a steady and fast development trend. The total amount of GDP in the first quarter of the city was 118 billion 130 million yuan, up 7% from the same period, and the growth rate was 0.2 percentage points higher than that of the whole country.

In recent years, Changchun has made efforts on people’s sports livelihood called “Healthy Changchun, Sports first”. As a result, the resident’s fitness awareness, physical quality and quality of life has been significantly improved. According to statistics, the city’s sports population has been over 51%. Anyone in anywhere of Changchun could find a fitness site around 8 minutes on foot. There are special sports managers in the community. The government reserved a large area of land for the plan of the national facilities’ construction. The public could book sports venues and find fitness partners through the network. The practice in Changchun has been called the “Changchun model” by the WHO, which provides useful practice and reference for the transformation work from “sports power” to “sports power” in China.

Changchun has been ranked the happiest city in China for ten consecutive years, and is also known as “the most humane city in China”. The Vasaloppet international cross-country skiing Festival, known as “snow marathon”, has been held here for 16 years. And the city marathon successfully held for the first time last year, in which impressed the runners with the beautiful natural scenery, the favorable humanity environment and the civilized enthusiasm of Changchun citizens. This year, more than 30,000 Changchun International Marathon quotas were robbed in 5 days.

Source: Changchun Municipal Government

Cameroon National Day

On behalf of the Government of the United States of America, I offer congratulations to the people of the Republic of Cameroon as you celebrate your National Day on May 20, 2018.

The United States values the ties that bind the American and Cameroonian people. We look forward to continuing our partnership with Cameroon as we strengthen regional security, fight violent extremism in the Lake Chad Basin region, and collaborate to improve health outcomes. Our goal is to work together for a peaceful, democratic, and an abundant future.

On behalf of the American people, I am honored to extend my best wishes to all Cameroonians on this joyous occasion

Source: U.S. Department of State