Ambassador of Bosnia urges Pakistani businessmen to visit his country to explore available business opportunities – Press Release issued by Lahore Chamber of Commerce and Industry

Lahore, April 14, 2014 (PPI-OT): Following is the text of press release issued by Lahore Chamber of Commerce and Industry (LCCI)

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Ambassador of Bosnia to Pakistan Nedim Markarevic has urged the Pakistani businessmen to visit his country to explore available business opportunities as the existing volume of two-way trade is far below their respective potential.

The Ambassador was speaking at the Lahore Chamber of Commerce and Industry on Monday. The LCCI President Engineer Sohail Lashari updated the visiting diplomat on economic situation in Pakistan while LCCI Senior Vice President Mian Tariq Misbah and Vice President Kashif Anwar also spoke on the occasion.

LCCI Executive Committee members Zafar Mehmood, Maqsood Ahmed Butt, Talha Tayyab Butt, Mian Zahid Javaid Ahmad, Muhammad Haroon Arrora, Khawaja Khawar Rashid, Chuadhry Muhammad Aslam and Haji Muhammad Akram also attended the meeting.

The Ambassador said that the exchange of delegations was a must to give boost to the bilateral trade therefore the Lahore Chamber of Commerce and Industry should constitute a sector-specific delegation to Bosnia.

He said that Bosnian Embassy in Islamabad would extend all possible cooperation for the success of the delegation. “The embassy would ensure LCCI delegates’ meeting with with counterparts in Bosnia.”
Nedim Markarevic said that business in Bosnia means business with European countries as the strategic location of his country opens up doors to a number of EU members.

He said that Tourism and Construction sectors offer a huge opportunity to Pakistani business community therefore they should avail them.

The Ambassador said that very low inflation rate and high per capita income were some of the features that provide sufficient reasons to do business in that part of the world.

Nedim Markarevic also gave a detailed presentation to the LCCI office-bearers about the strategic location of Bosnia.

The Ambassador said that Bosnia and Herzegovina for being located in the heart of Europe has its 43 per cent of the total territory most useful for modern industry.

He said that Bosnia and Herzegovina has large capacities in the wooden industry related to production of goods for foreign markets. The Ambassador said that the country is quite rich in the metal industry and the opportunities are available in Steel and Aluminum sectors.

Speaking on the occasion, the LCCI President Engineer Sohail Lashari said that the LCCI delegation would visit Bosnia in the month of July to have firsthand knowledge about the available business opportunities.

He said that both the private sector and the public sector in the two countries would have to make concerted efforts to increase the volume of bilateral trade.

The LCCI President said the economic relations between the two countries did not reflect their close fraternal ties and there was a need to cement trade and economic relations. He called for exchange of trade related information to enable the Pakistani businessmen to have interaction with their counterparts.

“We need to identify new products to trade with and also make the trading arrangements much safer and efficient.”

He said that continuous engagements of the diplomatic missions with the business community of both the countries, exchange of business delegations, orientation to the products of each others countries and holding of single country exhibitions can be highly fruitful in enhancing trade between the two countries.

Exchange of information through websites, printed matter, cultural events and documentaries can also help to promote the bilateral socio-economic relations.

Bosnia Herzegovina has a highly developed dairy and auto industry. Pakistani business community would like to share technology in these sectors through joint ventures.

Pakistan exports electro-medical apparatus, articles of cutlery, gloves, mittens, leather garments and men’s suits etc.

Imports from Bosnia are flat rolled products of iron, printing machinery, conveyor belts, filtering machines and electro-medical apparatus etc.

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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Second Lahore Chamber of Commerce Organizations of Islamic Countries Ambassadors Conference was a great success by all means: Khamis Saeed Butt – Press Release issued by Pakistan Industrial and Traders Associations Front

Lahore, April 14, 2014 (PPI-OT): Following is the text of press release issued by Pakistan Industrial and Traders Associations Front

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Second LCCI OIC Ambassadors Conference was a great success by all means and would be doing a big boost to intra-Islamic countries trade through mutual understanding and sharing of research in various economic areas.

This was stated by the Acting Piaf Chairman Khamis Saeed Butt in a statement issued here Monday. He said that the Lahore Chamber of Commerce and Industry had achieved a great milestone by successfully holding OIC Ambassadors and Trade Conference.

The PIAF Acting Chairman said that there was no doubt in it that the Islamic countries are natural partners of each other but it was very unfortunate that the total trade among them was far less than what they were doing with the rest of the world.

Khamis Saeed Butt said that the Joint Declaration adopted by the participants of the OIC Ambassadors Conference would go a long way in paving the way for removal of impediments to trade among these states.

He said that the LCCI initiative was well timed as the government had already launched campaign to attract foreign investment and increase exports. He hoped that that the Foreign Office and Pakistani missions in the Islamic countries would avail this opportunity to attract investment from all OIC countries.

The PIAF Acting Chairman said that Prime Minister Nawaz Sharif had already given his vision on trade liberalization therefore it is hoped that the concerned government department would evolve an action plan in accordance with the OIC Ambassadors Conference declaration.

Khamis Butt said that the upward movement of key economic indicators had already raised the confidence of the private sector. He said that if the government wanted to ensure consistency in the economic achievements, it would have to make the business community part of the policy making process.

The PIAF leader said that in the past the previous government could not achieve considerable success on the economic front only because of less interaction with the stakeholders. He said that a very positive situation was emerging on the economic scene only because of the government’s business friendly attitude.

He expressed the optimism that all the government institutes would help support the private sector in its endeavour to increase intra-OIC trade and economic relations without5 any further delay.

For more information, Contact:
Khalil-ur-Rehman
Pakistan Industrial and Traders Associations Front
110/s Kot Lakhpat Industrial Estate
Lahore, Pakistan
Phone: (92) 42 5123522
Fax: (92) 42 5123522
Email: Info@piaf.pk

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Government needs to announce export support fund from 6percent to 10percent to save exporters: Business leaders – Press Release issued by Pakistan Carpet Manufacturers and Exporters Association

Lahore, April 14, 2014 (PPI-OT): Following is the text of press release issued by Pakistan Carpet Manufacturers and Exporters Association

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The zig zag exchange policy against rupee has created historical chaos to export sector. The exporters sold future production at dollar value of Rs 108 per dollar and consignments sent on 180 days credit basis are realized at US$ 96.50 per dollar causing loss of 10% to 12%.

Due to rapid appreciation of dollar from Rs. 98 to Rs. 110 during the month of December many exporters made forwarding booking arrangements of imported raw materials and with sudden drop of Rs. 14 per dollar i.e. Rs. 110 and Rs. 96 these imported consignments have further added insult to the injury and exchange policy of the government proved double edged sward for exporters.

This was said by Agha Saiddain Regional Chairman of Leather Sector FPCCI and Mr. Major Akhtar Cooki Chairman Pakistan Carpet Manufacturers and Exporters Association in joint Press Conference at Lahore.

They said exporters cannot survive on this uneven exchange policy and government needs to announce EXPORT SUPPORT FUND from 6% to 10% to save exporters.

They said that irreparable loss to the exporters can have long term repercussion and will adversely affect our Balance of Trade and Balance of Payments. They further added that the government should immediately have emergent meeting with all export sectors to address this serious issue. Our competing countries are in a better position to capture market share lost by Pakistani exporters.

The government has failed to take into confidence exporters before devaluation of dollar which if necessary should have been reduced steadily over a period of time. Despite the fact that foreign exchange reserves have not increased and all economic indicators are steady there seems no reason for this artificial increase in value of Rupee.

However they added government need to pay serious attention to the disaster caused to exporter and its long term effects. They said no country can survive on borrowings and exports are the only remedy for economic growth. Damaging Export Sectors due to some grants, donations or bonds is not wise. They further added that due to weak dollar exporters have received no relief in electricity and fuel bills.

The government has not passed any such relief to the exporters. The electricity bills have been increased despite the fact that our thermal power stations are running on imported oil which obviously is now cheaper due to weak dollar. They said the difference of Rs. 3.00 per dollar between Inter Bank Rate and Open Market Rate may cause depletion of foreign exchange reserves which are already very meager.

The exporters may bring part of their foreign exchange through money changers causing reduction in export figures and foreign exchange reserves. The calamity hit exporter sector need immediate attention of Prime Minister of Pakistan.

For more information, contact:
Muhammad Riaz
Pakistan Carpet Manufacturers and Exporters Association
1st Floor, CTI Building, 27-Empress Road
Lahore – Pakistan
Ph: – 0092-42-36366272- 36373947
Fax:-0092-42-36305296
Email: – pcmeaa@gmail.com

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Zulfikar Thaver invites attention of Finance minister to repercussions anticipated due to non shipments of goods by exporters because of lower proceeds in Pakistani rupees due to appreciation of rupee – Press Release issued by Union of Small and Medium Enterprises

Karachi, April 14, 2014 (PPI-OT): Following is the text of press release issued by Union of Small and Medium Enterprises

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The Union of Small and Medium Enterprises (UNISAME) has invited the urgent attention of the federal finance minister (FM) Ishaq Dar to the repercussions anticipated due to non shipments of goods by exporters because of lower proceeds in Pakistani rupees due to appreciation of the rupee and informed him that the business community desires that the government simultaneously announce a system of bonus against exports in the form of subsidy otherwise the exports will decline substantially and imports will increase to the detriment of the local industry. The local industry will suffer due to heavy imports and become uncompetitive.

President UNISAME Zulfikar Thaver urged the FM to look into the matter seriously as the exporters are not in a position to export due to loss in realization of proceeds at the current rate. The exporters have suffered huge losses and are not prepared to suffer continuous losses. To enable and maintain exports the governments needs either to allow a bonus rate of exchange for exporters and different rate for importers.

The governments need to ensure that the inputs for the agricultural sector and the industrial sector become less costly and also the cost of finance is beneficial to remain competitive. The discount rate needs to be lowered to reduce cost of finance.

All factors of production except labour need immediate correction and fuel. logistics, packing and raw material be made cheaper with reduction in import duty without loss of time otherwise the repercussions due to fall in exports and increase in imports resulting in adverse balance of payment will be noted.

Thaver said to avoid the dilemma it is important that steps and measures are taken simultaneously for maintaining exports.

The exporters of farm produce and industries are in doldrums and the SME exporters of farm produce are unable to transact business as they have purchased goods intended for exports and are not getting even the cost back if they propose at the existing parity rate. The textile sector, the foodstuff processing units, the light engineering industries are all unable to ship their orders in hand and are not in a position to accept new orders and are contacting the union for voicing their grievances.

He said the cost of production is high and the return is less if this state of affairs continues then the farmer will be reluctant to cultivate and will resort to growing of selected items only and as a result the exports will suffer.

He said the government should not misunderstand our plea because the business community wants the rupee and economy to grow but calls for steps to maintain balance.

He said the government offered the handsome rate of profit on Euro Bonds and likewise the government should aim at giving the equivalent subsidy to those who are earning the foreign exchange. If the government can afford to give a benefit to the buyers of Euro Bond to get foreign exchange why should it not give the benefit to its own exporters who would be earning the foreign exchange.

For more information, Contact:
Union of Small and Medium Enterprises (UNISAME)
75/1 3rd Commercial Street,
Phase IV, D.H.A., Karachi, Pakistan
Phones: + 92 35884225 and 6
Cell: + 92 300 8245307 and + 92 321 8245307
Fax: + 92 35380642
Email: unisame@gmail.com

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Karachi Cotton Association Official Spot Rate for Local Dealings in Pak Rupees of 14-04-2014 – Press Release issued by Karachi Cotton Association

Karachi, April 14, 2014 (PPI-OT): Following is the text of press release issued by Karachi Cotton Association

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CROP 2013-2014
PART – I
SPOT RATES
KCA Official Spot Rate for Local Dealings in Pak Rupees
FOR BASE GRADE 3 (THREE) STAPLE LENGTH 1-1/16″
MICRONAIRE VALUE BETWEEN 3.8 To 4.9 NCL

Rate Ex-Gin Price Up-country Spot Rate Spot Rate Difference
for Expenses Ex-Karachi Ex. KHI. As on In Rs.
12.04.2014 Ex.Karachi
37.324 kg 6 ,500 155 6,655 6,655 -NIL
Equivalent
40 kgs 6 ,966 155 7,121 7,121 -NIL

Valid for the day established by the Rates Committee at 12:00 Noon.

Grade and Staple Margins are notified below:

GRADE AND STAPLE MARGINS
(for the period from April 01, 2014 to April 30, 2014)
STAPLE
GRADE
31/32″ 1″ 1-1/32″ 1-1/16″ 1-3/32″ 1-1/8″
37.32kg 40 kg 37.32kg 40 kg 37.32kg 40 kg 37.32kg 40 kg 37.32kg 40 kg 37.32kg 40 kg
Super- – 675 – 723 – 475 – 509 – 275 – 295 + 150 + 161 + 350 + 375 + 475 + 509
1 – 725 – 777 – 525 – 563 – 325 – 348 + 100 + 107 + 275 + 295 + 400 + 429
2 – 775 – 831 – 575 – 616 – 375 – 402 + 50 + 54 + 200 + 214 + 325 + 348
3 – 825 – 884 – 625 – 670 – 425 – 455 BASE + 150 + 161 + 250 + 268
4 – 975 -1045 – 775 – 831 – 575 – 616 – 150 – 161 + 50 + 54 + 150 + 161
5 – 1075 – 1152 – 825 – 884 – 675 – 723 – 200 – 214 – 50 ‘- 54 + 50 + 54

All above margins are based on Micron ire value between 3.8 to 4.9 NCL for Grades Super, 1, 2, and 3 and Micron ire value between 3.5 to 4.9 NCL for Grades 4 and 5. Approval of Government for Grade Super and Micronaire value 3.8 to 4 9 NCL is awaited.

The discount on the basis of low or high Micronaire is stated below which is applicable in addition to the above mentioned margins:

Micronaire below 3.8 in Percentage Micronaire in Percentage
Grades Super,1,2 and 3 Allowance Excess of 4.9 Allowance
and Micronaire below 3.5
in Grades 4 and 5
0.1 0.5 0.1 0.5
0.2 1.0 0.2 1.0
0.3 2.0 0.3 2.0
0.4 3.0 0.4 3.0
0.5 4.0 0.5 4.0

PART -II
DOMESTIC IRANSACTION)
Dated; April 14.2014
2013-2014C ROP
Bales Station Rate Bales Station Rate
1000 Sadiqabad 6500 1000 Rahim Yar Khan 6500

PART – III
(EXPORTS)
Registration:- Shipments:-
PERIOD – (MY 2013-14) CROP BALES PERIOD- (MY 2013-14) CROP Bales
01-08-13 to 07-04-14 2011 – 2012 500
01-08-13 to 07-04-14 2012 – 2013 51,580 01-08-13 to 07-04-14 2012-13 58,370
01-08-13 to 07-04-14 2013 – 2014 562,868 01-08-13 to 07-04-14 2013-14 393,785
Total:- 614,948 Total;- 452,155
Source: Trade Development Authority of Pakistan Source: Trade Development Authority of Pakistan

PART -IV PART – V
(IMPORTS) (Mills Consumption of Raw Cotton)
Cotton Season 2013-2014

PERIOD – (MY 2013-14) Qty. in MT Month Bales
Aug.,to Jan.,2014 123,693 Aug,to Nov.,2013 3,945,882
Febuary,2014 47,305
170,998 December,2013 1,000,000
Total:- 4,945,882
Source: Pakistan Bureau of Statistics Source: Textile Commissioner’s Organization

(ARRIVAL CROP 2013-14) (COMPOSITE EXCHANGE RATES)
As on April 01, 2014 Date; April 14, 2014
In Bales
Punjab Sindh Pakistan
Total Arrivals 9,625,703 3,760,132 13,385,835 Country Selling Buying Sight
Sales to TCP – – –
“to Exporters 111,250 270,756 382,006 USA 96.30 96.10 95.94
“to Mills 9,051,063 3,256,203 12,307,266
Unsold Stocks as on 01-04-2014 696,563 Source: National Bank of Pakistan
Source: PCGA

SUMMARY OF COTTON ARRIVAL IN 2013-14 AND 2012-13 AS ON 01.04.2014
2013-14 2012-13

PUNJAB SINDH TOTAL PUNJAB SINDH TOTAL
Total Arrival: 9,625,703 3,760,132 13,385,835 9 ,484,261 3,403,767 12,888,028
Difference in bale
% + 1.49 + 10.47 + 3.86
Flow during this fortnight 11,408 4,800 16,208
Sales to TCP – – –
Sales to Exporters 111,250 270,756 382,006 200,225 143,378 343,603
Sales to Mills 9,051,063 3,256,203 12,307,266 8,786,649 3,064,585 11,851,234
Unsold stocks 696,563 693,191

For more information, contact:
Karachi Cotton Association
The Cotton Exchange I.I Chundrigar Road,
Karachi, Pakistan.
Phone: +(92)242-5007, +(92)241-2570, +(92)241-6497
Fax: +(92)241-3035, +(92)241-2580
Email: contact@kcapak.org

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AKD Quotidian about — INDLJ: 9MFY14 Result Preview

Karachi, April 14, 2014 (PPI-OT): Indus Motors (INDU) is scheduled to announce its financial results on Friday, Apr 18’14 where AKD Securities expects the company to post NPAT of PkR,2350mn (EPS: PkR29.90) in 9MFYI4 versus NPAT of PkR1,730m (EPS: PkR22.O1) in 9MFYI3, up by 36%YoY. In 3QFYI4 alone, AKD Securities expects INDLJ to post NPAT 0f PkR998mn (EPS: PkRI2.70), up by 33%Y0Y(111%QoQ.

In this regard, the company sold 11,548 units during 3QFYI4 (+71%QoQ) led by 76%QoQ higher sales of Corolla and 46%QoQ higher sales of Hilux, partly due to the New Year registrations effect. In addition to higher volumetric sales, INDUs profitability should also be buoyed by currency gains where the NCR gained 3.2%QoQ and 5.9%QoQ vs. the US$ and JPY, respectively.

This should lead 3QFYI4 gross margins to clock in close to 9% vs. GMs of 7.4% in the previous quarter particularly as the 2%-5% price cuts took place towards the end of Mar14. INDLJ has gained 42%CYTD to trade at a FYI4F PIE of 9.6x. While AKD Securities does not rule out profit taking in the near-term, AKD Securities believes improving dynamics for the Auto space, inline with a macroeconomic turnaround, makes INDU a potentially lucrative medium-term bet. Accordingly, AKD Securities will looks to revisit AKD Securities Limited’s investment case on INDIJ post upcoming results

9MFY14 Auto Volumes

According to latest auto sales data, overall industry sales (Cars + LCVs) grew by 4.0%YoY to 100,220 units. In 9MFYI4. This sales growth was led by HCAR (16792 units, +138%YoY), followed by INDU (26,727 unit +3.5%YoY) and PSMC (55,514 units, at par with last year). On a sequential basis, 3QFYI4 saw Industry sales of 38,968 units, up by 37%QoQ which was mainly led by I4CAR (6803 units, +85%QoQ) and INDU (11,548 units, +71%QoQ) while PSMC sold 20,022 units (+14%QoQ).

Total Mar14 sales of 12,269 units came off by 4%MoM where INDLJ was the main outperformer (4,051 units, +16%MoM). On the tractors front, 2,998 units were sold in Mar14 where MTL sold 2066 units (mkt share: 69%).

Mar’14 sales trend: In Mar14, overall industry sales declined by 4%MoM to 12,269 units, the sequential trend pointing to normalization post the New Year registrations effect. INDU was the star performer with a 16%MoM increase in sales mainly due to higher Corolla sales (3,399 units, +8.2%MoM) as the company lowered the prices of its variants by up to FkR75,000, following recent FkR strength and possibly in a bid to phase out inventory ahead of the launch of the new Corolla model. At the same time, sales of Hilux registered a strong uptick (+86%MoM).

On the flipside, HOAR sales dropped by 12%MoM to 1.971 units (740 units of Civic and 1231 units of City) while PSMC’s Mar’14 sales came off by 14%MoM to 5,992 units, with marked declines in Cultus (-24%MoM to 1,018 units) and Mehran (-23%MoM to 2.206 units).

Investment perspective: The AKD Autos Universe has gained 45%CYTD. outperforming the KSE-100 Index by 29% in the process. While the sharp recent price run-up may tempt profit taking in the near-term, AKD Securities notes that the ongoing macro turnaround bodes well for industry outlook particularly as auto financing is on the up.

Thai said, the new Auto policy remains a key question mark, especially directives on used car imports. In This regard, AKD Securities will looks to revisit AKD Securities Limited’s investment case for Autos post upcoming results.

XJTLU Launches Chinese Language and Business Summer School Programs in China

SUZHOU, China, April 14, 2014 / PRNewswire — Xi’an Jiaotong-Liverpool University (XJTLU) recently launched a range language and business Summer School courses jointly hosted by the University’s Language Centre and International Business School Suzhou (IBSS).

The new Chinese Language and Business Summer School Programs focus on Mandarin Chinese and Chinese and Business and are open to anyone interested in getting to grips with Chinese language or wanting to learn about the business environment in the world’s most dynamic economy while also picking up the language as you study.

With a choice of either a two week intensive course, or a month long option from 7th July to 15th August, participants will get the chance to learn and practice their language skills in a dedicated, professional environment, supported by experienced and fully certified teaching staff.

Those who complement their language studies with an introduction to Chinese Business will benefit from specialized training from IBSS professors who can guide students through four main areas of interest: The Chinese Economy, Understanding the Chinese Consumer, The Internet Boom – China Style and Entrepreneurial Opportunities in China.

While the summer schools can cater for intermediate or experienced Mandarin speakers, no prior knowledge of Chinese or business is required to join the programs and anyone over 16 years old is welcome to come to XJTLU’s Suzhou campus to participate.

“The Language Centre is looking forward to welcoming Students to our campus over the summer” explained Dr. Stuart Perrin, Dean of Learning and Teaching at XJTLU. He highlighted that “with our award winning staff and cooperation with XJTLU’s Business School, our summer school students can look forward to gaining a rare insight into the language and business culture of the world’s fastest growing economy”, adding that “this experience will not only be enjoyable but will prove beneficial for your studies and career prospects in the future.”

Click here for more info:http://academic.xjtlu.edu.cn/lc/summer-school

About XJTLU:

Xi’an Jiaotong-Liverpool University is an international university jointly founded by leading institutions from both China and the U.K. As an independent Sino-British venture, XJTLU is a pioneer in the field of higher education in mainland China. The campus is located in the World Heritage city of Suzhou on China’s Eastern seaboard, which boasts the fourth largest concentration of GDP in China, and offers a unique environment in which to study, live, and thrive.

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SOURCE: Xi’an Jiaotong-Liverpool University