Islamabad Stock Exchange holds training workshop on Islamic Debt and Equity Markets

Islamabad, February 10, 2014 (PPI-OT): Islamabad Stock Exchange (ISE) is holding a two-days training workshop on “Islamic Debt and Equity Markets” in collaboration with the Statistical, Economic and Social Research and Training Centre for Islamic Countries (SESRIC). The purpose of the workshop is to educate the participants on concept of Islamic financial system and Shariah compatible financial instruments. The trainer of the workshop is Mr. Majid Pireh, a financial expert from Iran.

On the first day of the workshop, Mr. Majid Pireh gave detailed presentation on Sukuk, derivatives, equities, index and prerequisites of Islamic financial system. The existing system of Islamic banking and available products was also discussed at length in question/answer session. The workshop is being attended by large number of participants from corporate sector as well as from the SECP.

It may be noted that SESRIC was founded as a subsidiary organ of the Organisation of Islamic Cooperation (OIC) in May 1977 to collate, process and disseminate socio-economic statistics and information on and for the utilization of the member countries, to study and evaluate the economic and social developments in the member countries to help generate proposals that will initiate and enhance co-operation among them, and to organize training programs in selected fields geared to the needs of the member countries as well as to the general objectives of the Organisation of Islamic Cooperation. The workshop is to conclude tomorrow.

For more information, contact:
Usman Rashid
Incharge – Investor Relations
Islamabad Stock Exchange Limited
ISE Towers, 55-B, Jinnah Avenue,
Islamabad-44000, Pakistan.
Cell: +92-0321-5889131
Phone: +92-51-111-473-473
Fax: +92-51-111-473-329

Non Discriminatory Market Access status to India: Usman Malik says that Most Favoured Nation is not acceptable to patriotic public of Pakistan

Lahore, February 10, 2014 (PPI-OT): As the government is set to grant NDMA status to India on Feb 15, PAAPAM has once again reminded the authorities that Pakistan’s auto industry is not prepared for phasing out negative list, as our government has not carried out administrative and organizational changes in their internal systems for gearing up to the onslaught of Indian products.

PAAPAM chairman, Usman Malik, said that as the term MFN is not acceptable to the patriotic public of Pakistan, a more acceptable terminology of ‘Non Discriminatory Market Access’ has been created to cover up handing over of Pakistan’s market to the Indian industry, as Pakistan’s domestic industry is in a gross comparative disadvantage position in terms of energy as well as access to credit.

He said that the industry is stunned by the pace of developments and the lack of understanding shown by the PML N govt. He said that Khurram Dastagir failed in convincing many critical sectors how it was in national interest to give up Pakistani market to Indian goods without negotiating any reciprocal access for the Pakistani Industry. It is unfortunate that Pakistan’s trade diplomacy team failed at such a crucial juncture, he added.

The MFN or NDMA status to India will be disastrous on many accounts, as it will completely root out the heavy investments and technology transfers achieved in the past 60 years in the auto sector and destroy the employment base of 2 million people in this industry, to pave the way for foreign automobile companies operating in the country to shift their plants to India and make the country fully dependent on India, with whom we have hostile relations, as apparent from recent reports.

Usman Malik said that the dynamics and economies of scale in both the countries are quite different. India manufactures around two million vehicles a year while Pakistan produces just 150,000 vehicles a year. Further, the law and order situation and the scarcity of utilities means there can’t be a level playing field for the two.

He suggested the government to allow import of raw material, inputs, machine tools, machinery and equipment and other set of products categorized under industrial inputs through land route.

Usman Malik said that end of negative list is not fair before providing level playing field to the Pakistani manufacturers who are hit by prolonged electricity shutdowns, gas interruptions and skyrocketing energy tariffs.

“Several industrial zones in India offer concessions and hidden subsidies to promote the industry while in Pakistan there are frequent and prolonged energy outages, and the production capacities remain un-utilized across the board increasing the production costs for the majority of those SMEs who do not have resources to set up captive plants” he added.

“Although Industry wants to proceed with a favourable note on trade with India the way the government wants to put everything in fifth gear is unjustified, unfair and a complete nonsense. How can our government do this to us when they don’t themselves understand the implications of Injury and how to readdress it.”

The auto sector sees some business potential in the OEM sector but even this advantage cannot be accessed without ensuring a two way trade pact, he said.

“It is our strong demand that the Auto sector must remain in the protective lists until the industry itself feels it can move forward. We also urge the government strongly to use Wagha importable list with extreme care.”

Aslam Rayaz, senior vice chairman, PAAPAM, believed that government should negotiate a long-term phase out plan in the interest of the local industry, the government should not take short cuts and the trade between both the countries should be of mutual benefits.

Any hasty step, without obtaining a fair market access for Pakistani goods will result in disproportionate low growth of Pakistani industry. He said that Pakistan should build up capacity in customs, valuation, anti dumping laws, PSQCA, and the National Tariff Commission (NTC).

It should acquire technology and technical knowhow in creating and improving national testing and product standards that would put Pakistan on equal footing with India, Aslam Rayaz added.

For more information, Contact:
Chairman
Syed Nabeel Hashmi
Pakistan Association of Automotive Parts and Accessories Manufacturers (PAAPAM)
16-B, Westwood Colony, Thokar Niaz Baig, Lahore.
Tel # +92 42 37498474-5
Fax #+92 42 37498476
Cell: +92 333 4372500
E-mail: paapam@brain.net.pk; chairman@paapam.com

Microfinance Transparency awards “The Seal of Transparency” to Khushhalibank

Islamabad, February 10, 2014 (PPI-OT): Khushhalibank, the country’s largest microfinance Institution received the “Seal of Transparency” from Microfinance Transparency (MFT) in recognition of its policy and commitment to responsible pricing practice within the market.

MFT is an international, non-governmental organization that promotes transparency by facilitating pricing disclosure. It was established to promote the welfare of poor micro entrepreneurs and to promote the integrity of microfinance as a poverty alleviation practice.

The vision is a microfinance industry operating with healthy, free market conditions where consumers and other stakeholders can make informed decisions. MFT is funded by leading global financial Institutions and represents an industry movement towards responsible pricing practices. Over 500 institutions in 30 countries around the world including Pakistan have given MFT permission to publish their prices.

The Pakistan Transparency Pricing Initiative was carried out by Pakistan Microfinance Network and MFT, and supported by the State Bank of Pakistan under the Financial Inclusion Program, UK-Aid and the Pakistan Poverty Alleviation Fund, the purpose being to strengthen the industry in Pakistan from within by supporting institutions in making the necessary steps towards pricing transparency.

Pakistan is regarded as having one of the finest regulatory and business environment for microfinance globally which continues to attract both domestic and foreign investment into the sector. This initiative will help further strengthen the positive perception for Pakistan.

For more information, contact:
Khushhali Bank
94 West, Fourth Floor, Jinnah Avenue, Blue Area
Islamabad
Pakistan
Telephone: +92 (51) 111 092 092
Fax: + 92 (51) 920 6080

Always Karo Yaqeen – Empowering Women to Achieve Dreams

Karachi, February 10, 2014 (PPI-OT): Always is back with its ‘Karo Yaqeen’ program which aims to serve as an inspiration for young Pakistani women to believe in themselves and pursue their dreams and ambitions. Echoing this sentiment Always launched a ‘Star Hunt’ which has provided an aspiring, talented Pakistani female designer the lifetime opportunity to realize her dream of working for a leading Fashion House.

Always has joined hands with leading fashion house Bonanza to provide her the opportunity to work for them and also launch her exclusive designer collection. Taking inspiration from this Always is launching its highly popular mini-series titled ‘Karo Yaqeen’. The mini-series will hit the airwaves in February on all popular entertainment channels in Pakistan featuring the charismatic, very accomplished and versatile Film/TV actress, Aamina Sheikh.

“I am glad to be part of this campaign. In a country where many women struggle every day to achieve success, Always Karo Yaqeen gives them the hope that anything is possible if they are confident and determined enough,” said the internationally acclaimed actress and contemporary icon of Pakistan’s silverscreen, Aamina Sheikh. “Being a Pakistani woman, I feel it’s imperative to empower other women so they can overcome the challenges of life with confidence,” she added.

Sharing her thoughts, Always Brand Manager, Maheen Hasan said, “Aamina Sheikh is the epitome of inner strength and beauty and, thus, encapsulates the Always Karo Yaqeen spirit perfectly. We are confident that she will be able to reach out to young girls across the country and give them the conviction to follow their dreams.”

The young designer was selected via the Always Star Hunt that was launched on Facebook for aspiring female fashion designers. The contest ran from December 28, 2013 to January 11, 2014. Girls from across Pakistan participated in the contest after which the winner was selected.

For more information, contact:
General queries
Procter and Gamble Pakistan (Pvt.) Limited (P and G)
P.O. Box 20047, Karachi – 75400
Email: infopk.im@pg.com
Web: http://www.pg.com/en_PK/news/index.shtml

Eurail Offers “Early Birds” Two to Five Free Travel Days

UTRECHT, the Netherlands, February 10, 2014/PRNewswire –

Buy Now, Travel Later With Eurail Global Passes

Travelers can take advantage of a special Eurail “Early Bird” promotion which offers non-European residents free travel days on Eurail Global Passes purchased from February 1 through March 31, 2014. Early Bird Passes have a six month pre-booking period.

This promotional offer applies to both first and second class Eurail Global Passes and are open to all travel categories: Adults, Child, and Youth, including Saver Passes intended for groups of two to five people, offering an additional15% reduction. The “Early Bird” campaign offers two extra travel days for the 15-day Eurail Global Pass, three extra travel days for the 21-day Eurail Global Pass and five extra travel days for a one month Eurail Global continuous Pass.

“Last year’s Early Bird promotion proved very successful, boosting sales in March of the Global Pass by an astounding 96%. The opportunity to receive extra travel days motivated nearly twice as many customers to buy the Eurail Global Pass. This year we expect even more travelers to take advantage of this promotional offer. The aim is to maximize the customer’s travel experience by offering these extra days to discover even more of Europe by train,” explains Silvia Goerlach, Eurail Group Sales and Marketing Manager.

Generating over 55% of total sales revenues, the Eurail Global Pass continues to be the most popular pass in the Eurail portfolio. With its 24 participating countries, it covers nearly the entire European continent (including free or discounted travel on some major shipping lines) and gives travelers the largest variety of countries to choose from. The diversity of Europe is easy to explore via rail with the Global Pass, from historic and quaint world heritage sites to back-country nature sites and architecturally stunning and historic capital cities.

Eurail Passes are available from a worldwide network of Authorized General Sales Agents. Please visit http://www.eurailgroup.org/eurail

Eurail Group G.I.E., the organization dedicated to the marketing and management of the Eurail and InterRail Passes, is wholly owned by thirty participating railways and shipping companies [http://www.eurailgroup.org/About Us/Eurail Pass Members.aspx ]. In addition, the Group has many benefit partners, including hotels, transport companies and museums, which offer their services either at a reduced rate or free of charge to rail pass holders.

Source: Eurail Group G.I.E.

دو سے پانچ روزہ مفت سفری ایام کے لیے یوریل کی “ارلی برڈز” پیشکش

یوتریخت، دی نیدرلینڈز، 10 فروری 2014ء/پی آرنیوزوائر/ –

خریدیں ابھی، سفر بعد میں یوریل کے گلوبل پاسز کے ساتھ

سیاح خصوصی یوریل “ارلی برڈ” پیشکش کا فائدہ اٹھا سکتے ہیں جو غیر-یورپی باشندوں کو یکم فروری سے 31 مارچ 2014ء کے دوران خریدے گئے یوریل گلوبل پاسز پر مفت سفر پیش کرتا ہے۔ ارلی برڈ پاسز چھ ماہ کا قبل از بکنگ دورانیہ رکھتے ہیں۔

یہ تشہیری پیشکش درجہ اول اور دوئم دونوں کے یوریل گلوبل پاسز پر لاگو ہوتی ہے اور تمام سفری زمرہ جات: بالغان، بچوں اور نوجوانوں، کے لیےعام ہے، بشمول دو سے پانچ افراد کے گروہ کے سیور پاسز کے لیے بھی، جو اضافی 15 فیصد رعایت دیتے ہیں۔ “ارلی برڈ” مہم 15 روزہ یوریل گلوبل پاس پر دو اضافی سفری ایام، 21 روزہ یوریل گلوبل پاس پر تین اضافی سفری ایام   اور ایک ماہ کے یوریل گلوبل مستقل پاس پر پانچ اضافی سفری ایام دیتی ہے۔

“گزشتہ سال کی ارلی برڈ مہم بہت کامیاب ثابت ہوئی، جس نے مارچ میں گلوبل پاس کی فروخت میں 96 فیصد کا زبردست اضافہ کیا۔ اضافی سفری ایام حاصل کرنے کے موقع نے تقریباً دوگنے مسافروں کو یوریل گلوبل پاس خریدنے کی تحریک دی۔ اس سال ہمیں توقع ہے کہ کہیں زیادہ سیاح اس تشہیری پیشکش کا فائدہ اٹھائیں گے۔ مقصد بذریعہ ٹرین یورپ کو مزید دریافت کرنے کے لیے اضافی دن پیش کرکے صارفین کے سفری تجربے کو بہتر بنانا ہے۔” یوریل گروپ سیلز اینڈ مارکیٹنگ مینیجر سلویا گوئرلاخ نے واضح کرتے ہوئے کہا۔

بذریعہ فروخت کل آمدنی کا 55 فیصد سے بھی زیادہ تخلیق کرنے والے یوریل گلوبل پاس یوریل کے پورٹ فولیو میں بدستور مقبول ترین پاس ہیں۔ 24 شریک ممالک کے ساتھ یہ تقریباً پورے براعظم یورپ کا احاطہ کرتے ہیں (بشمول چند اہم شپنگ لائنز پر مفت اور بارعایت سفر ) اور مسافروں کو انتخاب کے لیے ممالک کی وسیع تر اقسام پیش کرتے ہیں۔ یورپ کے تنوع کو گلوبل پا سکے ساتھ بذریعہ ریل تلاش کرنا آسان ہے، تاریخی اور غیر معمولی عالمی ورثہ مقامات سے لے کے فطری مقامات اور تعمیراتی شاہکاروں اور تاریخی مرکزی شہروں تک۔

یوریل پاسز مستند جنرل سیلز ایجنٹوں کے نیٹ ورک کے ذریعے دنیا بھر میں دستیاب ہیں۔ ملاحظہ کیجیے http://www.eurailgroup.org/eurail

یوریل اور انٹرریل پاسز کی مارکیٹنگ اور انتظامات سے وابستہ ادارہ یوریل گروپ جی آئی ای تیس شریک ریلویز اور شپنگ کمپنیوں کی مکمل ملکیت ہے۔ مزید برآں گروپ کئی مفادات شراکت دار بھی رکھتا ہے، بشمول ہوٹل، ٹرانسپورٹ کمپنیاں اور عجائب گھر، جو ریل پاس یافتگان کو اپنی ‎خدمات کم نرخوں پر یا مکمل مفت فراہم کرتے ہیں۔

ذریعہ: یوریل گروپ جی آئی ای