Sindh has great potential of investment and human resource and it is to provide all facilities to investors of Qatar: Chief Minister Sindh

Karachi, December 11, 2014 (PPI-OT): The Chief Minister Sindh Syed Qaim Ali Shah has said that Sindh has great potential of investment and human resource and it to provide all facilities to investors of Qatar for their investments here and skilled and technical human resource for implementations on the Trade and Development Projects at Qatar.

This he offered while talking to the Consul General of Qatar Saad Abdulla S.M. Al-Shareef who called on him at CM House Karachi today. The Chief Minister Sindh further said that Sindh Government was actively busy in the development activities in the province.

Where there were many investment opportunities in the field of infrastructure, agriculture, water and energy sectors. He invited the investors of Qatar to avail these opportunities and invest here for benefits of both sides. He assured the Consul General for providing full help. The Chief Minister Sindh further said that Sindh possessed the talented workforce which can be made available to facilitate the Qatar Government for implementation on their projects.

The Consul General of Qatar said that he was trying his best to enhance the trade volume with Pakistan and especially with Sindh province. He said that the companies and organizations of his country have already recruited the workers from Pakistan / Sindh as their human resource and it was willing to recruit more technical and talented workforce from Sindh.

The Consul General appreciated the gesture demonstrated by Chief Minister Sindh for supplementing his efforts for the development of Qatar said that he will try his best to exchange more business delegates with Sindh and his country.

Finally both leaders agreed to workout and prepare such mechanism that can further improve bilateral relations and enhance the trade and business volume between Sindh and Qatar. The Secretary to Chief Minister Mr. Alamddin Bullo was also present on this occasion.

For more information, contact:
Mr. Allah Bachayo Memon
Press Secretary
Chief Minister House
Tel: +92-21-99202019
Cell: +92-300-3524057 (Ext: 336)

Sindh Government, Sindh Bank sign deal for interest free distribution of Guzara allowance among 84,000 beneficiaries of Zakat fund

Karachi, December 11, 2014 (PPI-OT): The Sindh Government and Sindh Bank Management agreed and signed MoU for interest free distribution of Guzara Allowance among the 84000 beneficiaries of Zakat fund at the rate of Rs. 1000 per month to each through Sindh Bank ATM, in order to facilitate the poor beneficiaries and ensure transparency in the Zakat fund distribution.

The MoU was signed by Secretary Provincial Department of Zakat and Ushr Ghulam Mustafa Phul and President of Sindh Bank Mr. Bilal Shaikh at CM House Karachi today. This ceremony was witnessed by Chief Minister Sindh Syed Qaim Ali Shah, Sindh Minister for finance Syed Murad Ali Shah, Sindh Minister for Zakat and Ushr Dost Mohammad Rahimoon, Mr. Khalid Latif, Special Assistant to CM Waqar Mehdi, Coordinator to CM Siddique Abubhai and other officers from Sindh Bank and Zakat Department.

Talking on the occasion the Chief Minister Sindh Syed Qaim Ali Shah said that PPP has always served the poor segment of Society. He said that PPP, in its previous governments and present government, has launched the policies at least to supplement poor people in their day to day expensive.

He said that previously, the Guzara Allowance had been distributed among the beneficiaries at the deduction of service rate by distributing organizations but, this government decided to arrange this distribution without deduction of service rate and save more money for the poor people one hand and shift the distribution online to ensure its transparency. He appreciated the spirit of management of Sindh bank for being agree to start this service without its interest and termed it as noble work.

For more information, contact:
Mr. Allah Bachayo Memon
Press Secretary
Chief Minister House
Tel: +92-21-99202019
Cell: +92-300-3524057 (Ext: 336)

Sindh Government to export surplus wheat

Karachi, December 11, 2014 (PPI-OT): The Sindh Government has decided to export the surplus wheat and also asked Federal Government to extend its support from Trading Corporation of Pakistan in this regard. This was decided in the meeting to review the prevailing stock, and market price of wheat which was presided over by the Chief Minister Sindh Syed Qaim Ali Shah at CM House Karachi today.

The Sindh Minister for finance Syed Murad Ali Shah, Sindh Minister Health Jam Mehtab Dahar, Sindh Minister for Excise and Taxation Gianchand Esrani , Chief Secretary Sindh Sajjad Saleem Hotiana, Secretary to CM Alumdin Bullo, Secretary Food Saeed Awan, Secretary Finance Sohail Rajput and other officers of lined departments attended the meeting.

The Chief Minister Sindh formed 3-members committee consisting on Sindh Minister for Finance Syed Murad Ali Shah, Sindh Minister for Health Jam Mehtab Dahar and Sindh Minister for Excise and Taxation Gianchand Esrani to work out and prepare Export mechanism within 2 to 3 days.

Addressing the meeting, the Chief Minister Sindh directed the authorities of Food Department to float the tender for exporting the wheat within 3 days, to call the competitive bids from wheat exporters. He directed the officers strictly to stop the wheat movement from other provinces to Sindh province, and take strict action against the wheat hoarding and sell of sub-standard wheat in the market.

The Sindh Chief Minister was of the view that since the Federal Government had allowed for importing the wheat without consultation with Sindh Government, specially when Sindh Government and even Punjab government were possessing huge stock of indigenous production of wheat, it should share the losses and extend its support for extorting the surplus wheat of the Sindh Province.

The Chief Minister Sindh advised the mill owners to refrain from marketing the substandard flour and directed the authorities of food department to analyze the substandard imported wheat and to ascertain that up to what extent it was injurious to human health.

The Chief Minister Sindh said that growers were backbone of our economy and also main supporters of PPP. He said that Sindh Government to protect the interests of the growers at any cost. He said that Sindh Government has already paid Rs. 4.6 billion subsidy on the procurement of wheat from the growers at the support price to protect the farmers from losses. The meeting was informed that Sindh has wheat stock of 11 Lac ton out of which 4 Lac ton are available at Karachi for immediate export.

For more information, contact:
Mr. Allah Bachayo Memon
Press Secretary
Chief Minister House
Tel: +92-21-99202019
Cell: +92-300-3524057 (Ext: 336)

Businessmen show concern over rising trade deficit

Islamabad, December 11, 2014 (PPI-OT): Businessmen in a meeting at Islamabad Chamber of Commerce and Industry have shown great concerns over the rising trade deficit of the country and called upon the government to take urgent measures to facilitate the private sector in promoting trade and exports in order to overcome the trade deficit issue.

Addressing the meeting, Muhammad ShakeelMunir, Acting President, Islamabad Chamber of Commerce and Industry said that the trade deficit has surged to $ 10.45 billion during the first five months of the financial year 2014-15 showing an increase of over 34 percent in the same period of last year.

He said this state of affairs indicates that our exports are not growing well and he urged the government to take all necessary steps to address the key issues of exporters like energy, lack of infrastructure development, bureaucratic hurdles and institutional rigidities etc. in order to facilitate them in improving the country’s trade and exports.

He said government has set annual exports target of $ 27 billion, but the record of first five-months of the current fiscal years shows average monthly exports growth of just $1.984 billion, which is unsatisfactory by all standards. He warned that if this low growth trend of exports persisted, achieving the stipulated exports target would become more difficult and this situation would put more pressure on the country’s balance of payment leading to further rise in fiscal deficit.

Shakeel Munir said that one good option to overcome rising trade deficit was to focus on strengthening inter-regional connectivity as it would create more business opportunities for Pakistan in the regional countries and help in enhancing trade regional.

He said government should also consider developing a comprehensive strategy to evolve the knowledge-based economy according to modern trends which would facilitate in enhancing trade with regional countries as well international world.

He said government should also provide necessary support to industry in improving production techniques, cutting down on wastages and should encourage clusters of small and medium size export units to bring down production cost as well as make exports globally competitive.

He said private sector should he helped in diversification of exports and producing high quality value added products, which would lead to taking a quantum leap in exports and reduce trade deficit.

For more information, contact:
Khalid Chaudhry
Islamabad Chamber of Commerce and Industry (ICCI)
Chamber House, Aiwan-e-Sanat-o-Tijarat Road,
Mauve Area, G-8/1,
Islamabad, Pakistan
Tel: +9251 225 0526, 2253145, 8432676
Fax: +9251 225 2950
Email: icci@brain.net.pk
Website: www.icci.com.pk

Economic revival should be top priority of government: Mian Idrees

Karachi, December 11, 2014 (PPI-OT): Economic revival should be top priority of the government as it is linked to the betterment of the masses and image of the country among the comity of the nations, a business leader said Thursday.

Business community of Pakistan will fully cooperate with the government while FPCCI which has remained dormant for long will be revitalised to play a proactive role so that it can contribute to the betterment of the business community and overall economy, said Mian Idrees, candidate for the office of the president of the FPCCI.

He said that the business friendly policies of PML-N led government and receding fuel prices can result in a new dawn of economic revival as it has helped cut deficit and allowed extra funding for developmental activities.

Talking to the business community, Mian Idrees said that Pakistan is emerging from economic turmoil after more than a decade and are experiencing new economic beginning which is a great opportunity for foreign investors. However, he added that despite unmatched business opportunities some investors are shy due to some issues that need a little effort.

“Pakistan is an ideal market for investments, especially in the light of GSP plus status which has been granted for a decade, he said, adding that Pakistan offers best investment opportunities in the region while is has been introducing new concepts for investments.

Mian Idrees said that Pakistan offer best investment policies as almost 700 foreign companies operating in and making profits in Pakistan, a heaven for investors and a country of four seasons with population of youth standing at 60 percent.

He lauded the decision of the government to divest government’s shares in State Owned Entities (SOEs) as their transformation will help government raise funds, reduce losses, cut budget deficit, improve exchange rate and boost the economy.

He said that privatization is the integral part of the on-going process of economic reforms which must be carried out very carefully to hit the organisations compromising national growth while negligence would be a disaster, he warned. History of sale of national assets in early 1990s shouldn’t be repeated and control of institutions should be handed over to the new owners after realisation of full amount.

For more information, contact:
M. A. Lodhi
Secretary General
Federation of Pakistan Chambers of Commerce and Industry (FPCCI)
B-1, Federation House, Main Clifton Road,
Shahra-e-Firdousi,
Karachi-75600, Pakistan
Tel: +92-21-35873691, 93-94
Fax: +92-21-35874332
Email: info@fpcci.com.pk
URL: www.fpcci.com.pk