SSGC Operation Grift Intensifies, culprit Jailed

Karachi, January 31, 2020 (PPI-OT): The Sui Southern Gas Company’s SS and CGTO department raided Bismillah BBQ in Malir Colony, where the owner was found guilty of stealing gas directly from SSGC’s service line. The Culprit, Mohammad Salim S/o Luddan was arrested on spot. In Hyderabad, the SS and CGTO department identified a culprit who was stealing gas for commercial purpose from an old killed service line. The culprit had also installed a commercial meter interconnected with the direct line.

Furthermore, another culprit was found to be illegally using gas for commercial purpose from a domestic connection. Both illegal connections were disconnected on spot and FIR lodged. Claims will be raised accordingly against both culprits. In Larkana and Sukkur, Gas Theft Control Task Force detected 33 houses involved in stealing of gas through underground and overhead clamps.

Brig. (Rtd) Mohammad Abu Zar in his statement said that gas theft is one of the most significant factors that is contributing to UFG (unaccounted for gas). Therefore, efforts to reduce the number of gas theft incidences will intensify in future. The team will be cracking down on those involved in gas theft and doubling their efforts to eliminate this evil from its roots.

For more information, contact:
Chief Manager (Media Relations)
Sui Southern Gas Company Limited (SSGC)
Corporate Communication Department (Media Relations)
ST-4/B, Block 14, Sir Shah Suleman Road,
Gulshan-e-Iqbal, Karachi
Tel: +92-21-99021773, +92-21-99021000
Fax: +92-21-99231662
Cell: +92-322-2225159
Email: inayatullah@ssgc.com.pk, info@ssgc.com.pk
Web: www.ssgc.com.pk

Shazad Dada elected President of OICCI – the largest business Chamber in Pakistan based on economic contribution

Karachi, January 31, 2020 (PPI-OT): Chief Executive Officer, Standard Chartered Bank Pakistan Limited has taken over as the President of the Overseas Investors Chamber of Commerce and Industry (OICCI) for the 2020 term. This was announced at the 160th Annual General Meeting of the OICCI held at the Chamber on Friday, January 31, 2020. Mr. Haroon Rashid, Managing Director Shell Pakistan Limited, was elected unopposed as the Vice President.

The other elected members of the OICCI Managing Committee for 2020 are as follows:

1. MR. SYED ANIS AHMED – ABBOTT LABORATORIES (PAKISTAN) LIMITED

2. MR. IMRAN AHMAD KHAN – BAYER PAKISTAN (PVT) LIMITED

3. MR. GHIASUDDIN KHAN – ENGRO CORPORATION LIMITED

4. MR. IRFAN SIDDIQUI – MEEZAN BANK LIMITED

5. MR. MAREK ANDZEJ MINKIEWICZ – METRO PAKISTAN (PVT) LTD

6. MR. ASTUSHI FUJII – MITSUBISHI CORPORATION

7. MR. SAMER CHEDID – NESTLE PAKISTAN LIMITED

8. DR. IMRAN RASHEED – NOVARTIS PHARMA (PAKISTAN) LIMITED

The Incoming OICCI President Shazad Dada in his message to the members said that he strongly believes that Pakistan offers considerable growth potential for existing foreign investors and attractive opportunities for new investors. He said his conviction is supported by OICCI members who invested over US$ 13 billion in new capital expenditure in the last seven years. He opined that the current dip in the economic cycle of the country will soon revert back to a positive growth trend.

He lauded the role of OICCI for promoting Pakistan to potential foreign investors during the Chamber’s regular interaction with foreign business and governmental delegations and senior diplomats based in and outside Pakistan. Shazad also appreciated the quality of OICCI business climate/perception surveys, the Chamber’s focused and continuing advocacy efforts for streamlining the taxation system, giving practical policy input for increasing the efficiency of energy sector, initiatives on women empowerment and gender equality, the Chamber’s role in improving the security environment, and in taking the Intellectual Property Rights regime in Pakistan to a higher level, which included the publication of a comprehensive IPR manual for the benefit of all innovators and brand owners.

Shazad Dada is the Chief Executive Officer and member of the Board of Directors of Standard Chartered Bank (Pakistan) Ltd. He graduated with honours from University of Pennsylvania with Bachelors of Science and Bachelors of Arts degrees, and also has an MBA from the Wharton Business School, University of Pennsylvania. He is a seasoned banker and a prominent capital markets professional, with over 26 years of diverse experience with renowned financial institutions in the United States and Pakistan.

Prior to joining Standard Chartered, he was the CEO of Barclays Pakistan. Shazad has also worked at the Deutsche Bank Securities Inc in New York for over 15 years in various capacities before moving back to Pakistan as Managing Director Deutsche Bank AG Pakistan.

Shazad is the Chairman of the Board of Trustee of Developments in Literacy (DIL) Pakistan, member of Board of Directors British Business Centre Pakistan. He is also a Council member of Institute of Bankers Pakistan. Shazad was recently recognised as the sixth top Advocate Executive globally by the HERoes Women Role Model Lists 2019 supported by Yahoo Finance for his achievements in promoting gender diversity at workplace. He is an avid golfer with a keen interest in a number of other sports.

For more information, contact:
Overseas Investors Chamber of Commerce and Industry (OICCI)
Chamber of Commerce Building, Talpur Road, P.O. Box 4833,
Karachi – 74000, Pakistan
Tel: +92-21-32410814-5
Fax: +92-21-32427315
Email: info@oicci.org
Website: http://oicci.org/

Everyone Can Now Pre-order the HUAWEI Y6s and avail the Double Deposit Offer

Karachi, January 31, 2020 (PPI-OT): Huawei’s latest smartphone for the entry-level segment HUAWEI Y6s is up for pre-orders from January 31 – February 06. This time the company is introducing an exciting Double Deposit Offer where consumers can pre-order the device for PKR 800/- which equals to PKR 1,600/-. The smartphone carries a price tag of PKR 20,899/- thereby bringing the amazing Huawei features for everyone.

HUAWEI Y6s is enriched with many features that are not offered by other competitors in this particular category. The stylish design of this smart device empowers the customers to enjoy a world of infotainment and digital experiences on-the-go. It fulfills the need for additional storage with its 64GB memory, expandable to 512GB with an SD card. To top that off, it rises above the segment’s standard of 2GB RAM by boasting a 3GB RAM allowing users to achieve more multi-tasking with less lag.

The HUAWEI Y6s is the latest, most affordable addition to Huawei’s ultra-popular Y series. It not only promises a great performance, but also brings the reliability of Huawei that people have come to admire so much. It mixes together the evolving needs of diverse consumer-segments through unmatched innovation and an affordable price tag. Powered by a 2.3GHz Octa-core processor, paired with EMUI 9.1, this phone allows users to navigate its various functions with simple gestures.

In the photography department, a 13MP rear camera with an f/1.8 aperture takes stellar images, even in a dark environment. While the 8MP front camera with an ambient light-sensor and proximity-sensor takes spectacular selfies. Its 6.09 inch DewDrop display provides a more immersive viewing experience with a maximized bezel-less screen. The vivid HD feature is also enhanced by a TÜV Rheinland certified, Eye-Comfort Mode, to ease extended usage. The phone also boasts a Fingerprint Sensor to ensure complete security of data.

The smartphone will also be a hot choice for music lovers as it features Huawei SuperSound and an 11V smart-power Amplifier which delivers really crisp sound quality at higher volumes, with sound-effects algorithms and Huawei’s Histen 5.0 offering a 5.1 stereo surround-sound, to create an immersive theater-like experience for music lovers. Plus, it goes on for long with the 3,020mAh of battery power.

HUAWEI Y6s comes in two great colours of Orchid Blue and Starry Black and people can pre-order the device starting January 31 to February 06. The smartphone debuts on February 07 with a price of PKR 20,899/-.

For more information, contact:
ME Brand Manager
Huawei
8th Floor, Saudi-Pak Tower, Blue Area,
Islamabad, Pakistan
Tel: +92-51-2800000-20
Fax: +92-51-2800008
Mobile: +92-333-5240632
E-mail: qazi@huawei.com
Website: www.huawei.com

Dawlance Parent Company, Arcelik’s Director Addresses Women Leader’s Summit in Karachi

Karachi, January 31, 2020 (PPI-OT): The 10th International Women Leaders’ Summit was recently held at the Movenpick Hotel, Karachi, where Arcelik – Turkey’s largest manufacturer and the parent-company of Dawlance, participated as one of the main partners of this prestigious conference.

The Chief Human Resources Officer of Arcelik in Turkey – Ms. Buket Celebioven personally attended and addressed this grand event, to inspire the women delegates to enrich their professional knowledge and skills, while taking on leadership roles, in every socio-economic sphere.

With over 20 years of professional experience, Post-Graduate studies in Engineering-Management and a degree in Industrial-Engineering, Ms. Buket Celebioven is now managing local and international HR teams of Arcelik, in 35 countries. Her Organizational-Development (OD) policies, strategic implementations and initiatives, have helped transform Arcelik into a global technology-leader, while the company’s HR structure is now built to ensure higher productivity and sustainable growth in future.

Speaking at the event Ms. Buket Celebioven said, she is glad to be in Pakistan and meet all the powerful women who are the role model for young generation. “My corporate role and I personally believe in gender diversity and support women empowerment. The initiatives that Pakistan has been taking to empower more women are appreciable. The Arcelik group and Dawlance also try to empower more women and support gender diversity in work place. We have taken many initiatives to increase female presence in our companies and try to strengthen our employees in the workforce.”

The Summit brings hundreds of talented professional women together, inspiring them through success stories of global women leaders. The valuable topics discussed at the forum covered: Global learnings and experiences of international speakers and C-Suite executives, while they provided insights to the delegates, especially women, about strategies to overcome the glass-ceilings and achieve more work-life balance. The aspiring business leaders were inspired to engage with diverse and cross-functional executives, from the private and public-sector organizations across Pakistan. The conference also provided great opportunities for aspiring women to build-connectivity and expand their networks on a global scale.

Dawlance believes that investing in gender diversity manifests in building a great reputation for the company, which leads to increased profitability and opportunities for workers. Dawlance shares the vision of diversity with Arcelik, which creates innovation and competition. This vision allows Dawlance to attract and retain top talent, produce a higher quality products, and better understanding of the ever changing needs of their consumers.

For more information, contact:
Senior Officer Communications,
Dawlance
Dawlance Centre, 7/4 Civil Lines-9,
Dr. Zia-ud-Din Ahmed Road, Karachi, Pakistan
Tel: +92-213-5652450 – 9 (Ext. 2316)
Fax: +92-213-5674643
Email: dw.info.corporate@dawlance.com.pk
Website: http://www.dawlance.com.pk/

Zong is Now Giving Customers 4G Roaming in 75 Countries

Islamabad, January 31, 2020 (PPI-OT): Zong 4G is now offering its traveling customers LTE roaming across 75 countries and at more than 20,000 global destinations. Zong 4G has been increasing its international coverage and has forged partnerships with more than 100 international telecommunication operators to provide its customers with the best-in-class coverage experience.

Commenting on the milestone achievement Zong 4G’s official spokesperson said:

As a customer-centric company, Zong 4G has a deep understanding of its customer’s needs. Keeping in mind its globe-trotting customers, Zong 4G is delivering on its promise of seamless connectivity and world-class services. We will continue expanding our coverage as part of our strategy of bringing our customers an unprecedented connectivity experience.

Below is the list of countries where Zong 4G’s prepaid and post-paid customers can enjoy seamless LTE roaming services:

With an ambition to provide more ease to customers that travel for both business and leisure, Zong 4G is also offering the most affordable roaming packages for these countries. With over 14 Million 4G customers and more than 12,500 towers, Zong 4G offers its customers access to the most extensive network of the country.

For more information, contact:
ZONG
ZONG Headquarters
CMPak Complex, Plot# 47,
Kuri Road, National Park Road,
Chak Shahzad, Islamabad, Pakistan
Tel: +92-51-111-222-111
Fax: +92-51-111-031-031
Website: www.zong.com.pk

P@SHA CXO Meetup Islamabad January 2020 Concludes with Chairman HEC as Chief Guest

Karachi, January 31, 2020 (PPI-OT): P@SHA CXO Meetup Islamabad was held on the 29th of January in Islamabad Club in the presence of Chief Guest, Chairman HEC, Dr. Tariq Banuri. The meetup was attended by CXO level positions of notable P@SHA member companies as well as startups and government officials.

The opening address was given by Vice-Chairman P@SHA, Mujeeb Zahur who shed light on the upcoming initiatives of P@SHA. Mujeeb emphasized on the priorities of P@SHA Central Executive Committee (CEC), which include an increase in IT exports through the 5% cash incentive, ease of doing business by erecting STZs, the “Make In Pakistan” campaign focusing on domestic capacity building/public-private partnerships and skills development of the educational and training institutes in accordance with the market needs to bridge the Industry-Academia gap.

The Vice-Chairman also talked about the outcomes of the meeting of P@SHA CEC members with the Governor State Bank of Pakistan and encouraged the members to provide feedback and discuss pain-points of the industry. P@SHA’s lead role in the creation of the e-commerce policy in close engagement with the Ministry of Commerce and Minister Abdul Razzak Daud was highlighted as well.

Chief Guest for the evening, Chairman HEC, Dr. Tariq Banuri mentioned the 3 goals HEC is working on; access to education for people, quality of education and relevance to the socio-economic needs of the country. Dr. Tariq Banuri shared his intent of increasing export promotion rather than previously adopted Import substitution approach to make the IT industry become internationally competitive. Furthermore, Dr. Tariq also talked about his plans subsidizing Research and Development at 50% for the IT companies.

Currently, HEC is working on a total of 48 different initiatives a few of which are mentioned below:

Opportunity for a grant up to Rs. 1.5 Million for “Problem-solving oriented research” with local or international partnerships

Revamping Undergrad and Postgrad including Ph.D. programs with special focus on the undergrad programs keeping in consideration three major points; disciplinary competency, practical competency, and general competency

Updated technology transfer support program

Faculty success facilitated by training and promotion opportunities

Education Testing Council

Requiring Universities for Solarization of campuses

Student Support, Career Counselling, and Placement services

Systems for auditing, monitoring, and reporting

The meetup was sponsored by Zigron, a P@SHA member company headed by Wahid Khan who provided insight on their smart home application, ‘Abode’ which is completely made in Pakistan. Abode is an integrated home security and home automation solution which offers an easy to use software with no-contract plans to keep you connected and protected every day of the year.

For more information, contact:
Secretariat
Pakistan Software Houses Association (P@SHA)
Room 310, 3rd Floor, Business Centre,
Block 6, PECHS, Main Shahrah-e-Faisal
Karachi, Pakistan
Tel: +92-21-35418121, +92-21-36061051, +92-21-32008251
Email: secretariat@pasha.org.pk

VIS Upgrades Entity Ratings of Naveena Exports Limited

Karachi, January 31, 2020 (PPI-OT): VIS Credit Rating Company Limited (VIS) has upgraded the long term entity rating of Naveena Exports Limited (NEL) from ‘A-’ (Single A Minus) to ‘A’ (Single A). Short term rating has been maintained at ‘A-1’ (A-One). Outlook on the assigned ratings is ‘Stable’. Long term rating of ‘A’ signifies good credit quality; Protection factors are adequate. Risk factors may vary with possible changes in the economy. The short-term rating of ‘A-1’ signifies high certainty of timely payment. Liquidity factors are excellent and supported by good fundamental protection factors. Risk factors are minor. The previous rating action was announced on April 08, 2019.

NEL is primarily engaged in manufacturing of yarn and denim fabric. The Company commenced operations in 1989 and has emerged as a leading exporter of denim fabric from Pakistan. Naveena Group has diversified its operations across denim, spinning, property development, steel and power sectors.

Rating upgrade incorporates improvement in financial profile as noticeable from enhanced cash flow and debt servicing coverages while low leveraged capital structure has been maintained despite significant investments in subsidiary companies. Ratings also incorporate favorable business risk profile stemming from stable and growing demand for denim products. Ratings remain dependent on maintaining conservative financial profile and healthy cash flow coverages in line with projections. Impact of planned restructuring initiative on the financial profile of NEL will also be a key rating driver.

Business risk profile is supported by stable and growing demand for denim products. VIS expects demand for denim products to remain stable over the medium term. Given the favourable policies and incentives of the government on enhancing exports, there is significant opportunity for Denim players to enhance exports.

In this regard, NEL is well positioned to tap this opportunity given the successful completion of BMR at its manufacturing facilities yielding higher efficiencies and significant focus on product innovation. Assessment of financial risk profile incorporates healthy sales growth, improving gross margins which compare favourably to peers, strong liquidity profile and low leveraged capital structure. Going forward, some volumetric growth along with higher average prices are expected to be key profitability drivers.

Ratings take into account planned restructuring initiative of sponsors whereby non-textile investments (except for wind power exposure) on balance sheet are planned to be divested to Naveena Group (Private) Limited (Naveena Group) over the rating horizon. The group restructuring is aimed to enhance corporate governance and improved performance monitoring of investments.

For more information, contact:
Director Compliance and Rating Analytics,
VIS Credit Rating Company Limited
VIS House, 128/C, 25th Lane off Khayaban-e-Ittehad,
Phase VII, DHA, Karachi, Pakistan
Tel: +92-21-35311861-72
Fax: +92-21-35311873
Email: bilal@jcrvis.com.pk
Website: https://www.vis.com.pk/