Day: December 26, 2012

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The First Prudential Modaraba’s dispatch of dividend warrants

Karachi, December 26, 2012 (PPI-OT): Certificates holders of First Prudential Modaraba (PMI) are hereby informed that the 9th Dividend Warrants in respect of 3.00% Final Cash Dividend for the financial year ended June 30, 2012 have been dispatch to all those entitled certificates holders at their latest addresses registered with the Company and have submitted photocopy of their Valid Computerized National Identity Cards (CNICs) with the company.

This under requires provisions of Securities and Exchange Commission of Pakistan SRO No. 779 (1) 2011 dated August 18, 2011 as per SRO dividend warrants cannot be issued without insertion of CNIC Numbers.

Those Certificates holders who have not submitted their Valid CNICs/ are requested to send the photocopy of their valid CNICs National Tax Number of Corporate Certificates Holders along with folio number to the company’s Shares Registrar address at the earliest so that the dividend warrants may be dispatched to them.

In case of non-receipts please contact out registrar.

Share and Corporate Services (Pvt.) Limited
Mehersons Estate, Block-B, Talpur Road, Karachi.
Tel: 021-32429633, 021-32401634

For more information, contact:
First Prudential Modaraba
Mehersons Estate 1st Floor, Block-1,
Talpur Road, P.O. BOX No. 621 Karachi-74000
PABX: 32429632.4,
Fax: 92-21-32420015
E-mail: info@firstprudentialmodaraba.com

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The Al-Abid Silk Mills Limited’s election of directors

Karachi, December 26, 2012 (PPI-OT): Further to our notice dated December 11, 2012 under Section 178 (4) published in the newspapers, we are pleased to convey the list of Directors elected as under Section 178 of the Companies Ordinance, 1984 with effect from 21-12-2012.

1) Mr. Naseem A. Sattar
2) Mr. Asim Ahmed
3) Mr. S. M. Jawed Azam
4) Mr. Qamar Mashkoor
5) Mr. Muhammad Sajid Hafeez
6) Mrs. Sadaf Naseem
7) Mrs. Sadaf Nadeem

Following Nominee Director of NIT appointed U/S 183 of the Companies Ordinance, 1984 is not subject to retirement and is on the Board in addition to the above Directors elected U/S 178 of the Companies Ordinance, 1984.

For more information, contact: Unquote
Al-Abid silk mills Limited
A/139.S.I.T.E. Manghopir Road, Karachi.
P.O. Box: 3677 S.I.T.E. Karachi
Phones: (92-21) 32560040-48
Fax No: (92-21)32564718-32563639
E-mail: mail@alabid.com
URL: www.alabid.com

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President condoles with Zahid Malik on demise of his young brother

Larkana, December 26, 2012 (PPI-OT): President Asif Ali Zardari has expressed grief and sorrow over the demise of Mr. Abdul Hayee Malik, younger brother of Mr. Zahid Malik, Editor-in-Chief, Daily Pakistan Observer and Chairman, Nazriya Pakistan Council, who expired at Sialkot early Wednesday morning after protracted illness.

In his condolence message the President expressed sympathies with the bereaved family and prayed to Almighty to rest the departed soul in eternal peace. He also prayed to Almighty to give courage to the bereaved family to bear this loss with fortitude.

For more information, contact:
Surendar Valasai
Media Cell, Bilawal House
D-30, Block III, Clifton
Karachi, Pakistan
Tele: +92 21 3583 8102-3
Fax: +92 21 3537 1680-1
E-mail: info@mcbh.org.pk

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The National Clearing Company of Pakistan Limited’s procedures for computation, determination and collection of capital gain tax (“CGT”)

Karachi, December 26, 2012 (PPI-OT): This is with reference to the implementation of CGT System by NCCPL in accordance with the Income Tax Ordinance, 2001 (“Ordinance”), Income Tax Rules, 2002 (“Rules”) and NCCPL Regulations. In this respect, following Procedures, applied on CGT System, are reproducing hereunder in order to provide better understanding of the CGT System to the Clearing Members:

1. Following reports/downloads are updated in CGT System on daily basis containing details of computation of CGT upto last settlement day (s). Clearing Members will be required to collect or withhold requisite amount in advance from their respective clients:

i. CGT Gain/ Loss Details;

ii. Slab-wise Inventory Balance;

iii. Date-wise Inventory Detail;

iv. Inventory Balance Detail;

v. CGT Consolidated Summary;

vi. CGT Gain/ Loss Non-Inventory; and

vii. CGT Gain/ Loss Summary Report

2. The net amount of CGT for the month shall be reported to Clearing Members on the working day following the last Settlement Date of the reporting month. Accordingly, CGT shall be collected by the Company on monthly basis for transactions settled in a month, after refund/ adjustment of losses of the previous month or months of the same financial year.

3. For collection of tax on capital gains, the Company shall provide an exclusive set of information of “net amount of CGT collection at each UIN level” and “net refund amount of CGT at each UIN level” to respective Settling Banks of the Clearing Members on 7th Settlement Date of each month through NCSS Pay and Collect for the amount of tax determined for previous month or months.

4. The short collection or non-collection of CGT in any month during the financial year shall continue to appear in the CGT liability of coming month or months during the same financial year. In such case, the Company shall serve a Notice to defaulted clients under intimation to respective Clearing Members to pay the required amount of CGT within 7-working days.

In case of non-payment within the above mentioned stipulated time, such defaulting UIN (s) may be restricted from taking new positions in all Markets till the recovery of amount of CGT. However, squaring-up of open Position (s) may be allowed for such restricted UIN (s).

5. The amount of CGT collected from the investors/ persons by the Company shall be deposited in a separate bank account with the National Bank of Pakistan till the end of financial year. Accordingly, amount collected till 30-June shall be paid to the Federal Board of Revenue (“FBR”) along with interest accrued thereon on yearly basis by July 31st of the following financial year.

6. The Company in respect of computation, determination, collection and deposit of capital gain tax shall, in accordance with the provisions of the Ordinance and Rules made there-under, issue/ file following certificate/ statement:

I. Annual Certificate showing computation/ determination of capital gains or loss and CGT thereon, if any, and payment thereof to each client/ investor through Clearing Member within thirty days from the end of the financial year.

II. Quarterly Statement of capital gains and tax thereon to FBR within thirty days from the end of each quarter.

7. Any loss incurred during the financial year will be adjusted against the gains for the same financial year during which the securities were held for a period of less than a year. Any loss incurred on securities trading that were held for a period exceeding 12 months will not be allowed to be adjusted against the gains.

8. Brokerage account of the persons/ investors shall not be closed until and unless such persons/ investors obtain a clearance certificate from the Company confirming discharge of all CGT liability.

9. Since, first-in-first-out (“FIFO”) inventory accounting method is used in CGT System based on CDS account level, where trades/ transactions are settled, Clearing Members are required to properly manage their portfolio i.e. in case of Investor Account and multiple CDS sub-accounts under same UIN, Securities should be properly transferred to the CDS account from where trades are executed and going to be settled.

For any further queries or concerns, please feel free to contact the Customer Support Services of your respective locations.

City Telephone Number Fax Number Email
Karachi 021-32460811-19 021-32460827 helpdesk@nccpl.pk
Lahore 042-36280815-7 042-36280818 helpdesk@nccpl.pk
Islamabad 051-2895460-62 051-2895463 helpdesk@nccpl.pk

For more information, contact:
National Clearing Company of Pakistan Limited
8th Floor, Karachi Stock Exchange Building,
Stock Exchange Road, Karachi.

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The Habib Metropolitan Bank Limited’s information under regulation no. 16 (6) of KSE Listing regulations

Karachi, December 26, 2012 (PPI-OT): Pursuant to Regulation No. 16 (6) of the Listing Regulations of the Karachi Stock Exchange Limited, It is to inform that one of our director Mr. Bashir Ali Mohammad has sold three million shares of Habib Metropolitan Bank Limited (HMB). The required detail is as follows:

Name : Mr. Bashir Ali Mohammad
Designation : Director
Nature of Transaction : Through Karachi Stock Exchange.
No. of Shares : 3,000,000
Price per Share : Pak Rupee 18.46
Form of Share : Electronic Book Entry

For more information, contact:
Habib Metropolitan Bank Limited
14Th Floor Saima trade Towers ‘A’,
I. I. Chundrigar road, Karachi- 74200, Pakistan
Ph: (92-21) 322 71935-49
Fax: (92-21) 322 71950
UAN: 111-14-14-14
Website: www.hmb.com.pk

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Laboratory reports into Shahdra incident would be made public soon

Lahore, December 26, 2012 (PPI-OT): Provincial Secretary Health Arif Nadeem has said that Laboratory reports into Shahdra incident would be made public soon while the cases registered in connection with syrup would be reviewed anew.

The Provincial Secretary was speaking at the Lahore Chamber of Commerce and Industry on Wednesday. LCCI President Farooq Iftikhar, Senior Vice President Irfan Iqbal Sheikh, Convener LCCI Standing Committee Khawaja Shahzeb Akram also spoke on the occasion.

The Secretary Health assured the participants that neither any Pharma manufacturer would be harassed nor any action would be taken in violation of Drug Act. He made it clear that Punjab government believes in business promotion and all future inspections of the Pharmaceutical units would be conducted as per Drug Regulatory Authority rules and regulations.

Speaking on the occasion, the LCCI President Farooq Iftikhar demanded of the government to immediately stop harassment of the pharmaceutical manufacturers as it always sends a wrong signal to the outer world while affects badly the working of local businessmen.

He said that certain powers and scope of drug inspectors representing federal and provincial governments overlap and confuse the business community.

He said that health department has recently opted to purchase medical equipment by stapling packages entailing different products. This has given freedom to few vendors to enjoy the monopoly to quote complete packages.

The LCCI President said that this scenario is depriving many vendors from the business who have been supplying and supporting different equipment as standalone items. It is requested that packages may kindly be discouraged to encourage economical purchases.

He said that it is proposed that the specifications of products or packages must be made by involving trade members and the end-users to help evolve a consensus to minimize the undue leverage given to technical officers who at times do not heed to the request from stakeholders.

He said that the final specifications of electro-medical equipment that are mutually made by the traders and end-users may kindly be vetted by the consultants appointed by Health department to alleviate any grievances if exist during the formulation of specifications.

Farooq Iftikhar said that the PPRA rules must be applied in its true letter and spirit and at least 15 days must be given in opening the tenders from “Selling Date” not the advertisement date.

He said that lot of local companies dealing in herbal and homeopathic medicines are not registered with department of health. Any unforeseen incident occurring due to their negligence is also reflected on the whole pharmaceutical industry which is not fair.

He said that there should be formal effort to get them registered and regulate them with the help of certain procedures.

For more information, contact:
Shahid Khalil
Information Department
Lahore Chamber of Commerce and Industry (LCCI)
11-Shahrah-e-Aiwan-e-Tijarat,
Lahore -54000, Pakistan
Tel: +9242 111 222 499
Fax: +92 42 636 8854

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President inaugurates Shaheed Mohtarma Benazir Bhutto International Cricket Stadium

Garhi Khuda Bakhsh, December 26, 2012 (PPI-OT): President Asif Ali Zardari today inaugurated Shaheed Mohtarma Benazir Bhutto International Cricket Stadium here at Garhi Khuda Bakhsh, Naudero.

Addressing the gathering after the inauguration ceremony, the President said that one of the missions of the Government was to provide healthy activities for the youth so that their energies are diverted towards positive activities and away from extremism. We will continue to provide facilities for healthy sports activities, he said on the occasion.

The President complimented Pakistan Cricket Board, its Chairman Zaka Ashraf and all those who helped build the cricket stadium.

The President said that sometime back as the Patron of Pakistan Cricket Board he had asked Pakistan Cricket Board to build an international standard cricket stadium at Garhi Khuda Bakhsh as to provide an opportunity to the local children to test their skills, train and become the best in the world. This vision, he said, has been translated into reality today as the first phase of the cricket stadium has been inaugurated.

The President on the occasion also congratulated the youth of Larkana, and the whole province, on the setting up of this facility.

According to prepared text of his remarks, the President said that for years there was a sense of deprivation amongst the rural population of Sindh. Lack of sport facilities in Sindh had prevented talented youth to produce world class athletes.

He said that in the next phase, a cricket Academy with state-of-the-art facilities and best coaches to train the local players would also be set up in the area. He said that ‘I can see that quite a few players representing Pakistan internationally will come from this area.’

Noting the addition of Larkana, Dera Murad Jamali, FATA and Bahawalpur in the cricket setup recently, the President remarked that this would promote cricket across the country and upgrade skills of the local cricketers. He said that cricket was a passion for Shaheed Zulfiqar Ali Bhutto and Shaheed Mohtarma Benazir Bhutto. Cricket, he said, is a passion for me and for millions of people all over Pakistan.’ It is a unifying force and it can be used to project the message of peace.’

Complimenting Mr. Zaka Ashraf, Chairman PCB, and his team for putting this show together in a short span of time, the President wished him and the PCB well with their plans of bringing international cricket to the country.

Chairman PCB Mr. Zaka Ashraf also spoke on the occasion and thanked the President for his personal interest in promotion of the cricket in the country.

Earlier, the President also visited the mazars of Shuhuda in Garhi Khuda Baksh and offeredFateha for the departed souls.

For more information, contact:
Surendar Valasai
Media Cell, Bilawal House
D-30, Block III, Clifton
Karachi, Pakistan
Tele: +92 21 3583 8102-3
Fax: +92 21 3537 1680-1
E-mail: info@mcbh.org.pk