Technical barriers to trade new DG PSQCA has promised a proactive approach: Irfan Iqbal Sheikh

Karachi, March 11, 2023 (PPI-OT): Following is the text of press release issued by Federation of Pakistan Chambers of Commerce and Industry (FPCCI)

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Mr. Irfan Iqbal Sheikh, President FPCCI, has apprised that in a detailed meeting with the newly-appointed Director General of Pakistan Standards and Quality Control Authority (PSQCA), the apex body of the trade and industry has raised the longstanding and unresolved issues vis-à-vis Technical Barriers to Trade (TBTs).

Mr. Irfan Iqbal Sheikh highlighted that tyre, aluminium and steel producers have been promised the resolution of their issues by PSQCA, time and again; stressing upon the need to deal differentiation and standardization of raw materials and finished products separately.

FPCCI Chief emphasized that the tyre industry in the country should be fully facilitated and incentivized. It is one of the major industries in the country that can play a major role in import substitution as 80 percent demand of tyres in the country is still met by imports; and, as a matter of fact, domestic producers of tyres can aggressively expand their production and promote import substitution, provided the right policy is formulated.

Engr. M. A. Jabbar, VP FPCCI, demanded that, being the apex body of quality control in the country, PSQCA should regulate food, edible oil and RO plants; which have become a major source of ever-increasing health hazards for a country of 230.1 million. PSQCA should establish its writ and save the masses from sub-standard products in general and consumables in particular, he added.

Mir Ghulam Farooq Langove, DG PSQCA, assured the business community that he will be embarking on a proactive approach towards the resolution of issues; and preference would be given to the pending cases. He added that officers of PSQCA should provide facilitation to the businesses and traders on the doorstep to cut down turnaround times.

DG PSQCA vowed that the sellers of sub-standard, counterfeit and unhygienic products will be dealt in accordance with law; in association with the local administration and provincial and federal governments. PSQCA’s regional offices will be activated and supported to enhance their performance and ensuring stricter quality controls in the country, he added.

DG PSQCA agreed, in principle that his institution will be working with regional offices of FPCCI to create an enabling environment for the industry in the smaller centers and cities to receive PSQCA services – making PSQCA come to them, rather than making them reach the federal authority for the resolution of their issues.

For more information, contact:
Head Office,
Federation of Pakistan Chambers of Commerce and Industry (FPCCI)
Federation House, Main Clifton, Karachi, Pakistan
Tel: +92-21-35873691-94
Fax: +92-21-35874332
Email: info@fpcci.org.pk
Website: http://fpcci.org.pk/

The post Technical barriers to trade new DG PSQCA has promised a proactive approach: Irfan Iqbal Sheikh appeared first on Business News Pakistan.

PACRA Maintains Asset Manager Rating of PAK Oman Asset Management Company Limited

Lahore, March 11, 2023 (PPI-OT): Pak Oman Asset Management Company Ltd (or the “POAMCL”) is a Non-Banking Finance Company incorporated on July 28, 2006 as a public unlisted company with the principal objective of acting as an investment manager for mutual funds. The prominent business acumen of the sponsor bodes well for the rating.

The Company is eying to increase its market share in rapidly growing market. Currently the market share of the Company stood at 0.6% during CY22. However, the AUMs of the Company increased by 17% to PKR 9.3bln at the end Dec’22 (SPLY: 7.9bln).

The number of retail client is 89% of mixed investors. The Fund performance of the Company remained adequate as 65% of the Fund underperformed the benchmark. Whereas, 35% of the Fund outperformed the benchmark.

On the financial side, the core income of the Company decreased by 25% to PKR 54mln at the end Dec’22 (SPLY: 72mln). The net profit of the Company stood at PKR 0.25mln at the end Dec’22 (SPLY: loss PKR -164mln). The equity of the Company stood at PKR 150mln in the end Dec’22 (Dec’21: PKR 149mln) which is below the regulatory requirement of PKR 230mln.

However, Pak Oman Investment Company extend support to POAMCL by injecting equity which will help the company to meet its minimum regulatory requirement and will ensure proper execution of the business plan as desired.

The positive outlook assigned to the Company, reflects the growing AUMs, diversifying fund slate, retail penetration and sponsor’s commitment to support equity base. The rating is dependent on the Company’s ability to enhance its market position, gain in terms of assets under management and maintaining strong performance of its funds. Meanwhile, upholding high governance standards and strengthening of risk management is crucial for the rating.

For more information, contact:
Analyst,
The Pakistan Credit Rating Agency Limited (PACRA)
Awami Complex, FB1, Usman Block New Garden Town,
Lahore, Pakistan
Tel: +92-42-5869504-6
Fax: +92-42-5830425
Email: hammad.rashid@pacra.com
Website: www.pacra.com

The post PACRA Maintains Asset Manager Rating of PAK Oman Asset Management Company Limited appeared first on Business News Pakistan.

Farooq Abdullah, Mehbooba join job aspirants’ candle march against JKSSB

Jammu, March 12, 2023 (PPI-OT): In Indian illegally occupied Jammu and Kashmir, National Conference (President Farooq Abdullah and Peoples Democratic Party chief Mehbooba Mufti among many other political leaders joined candle march of Jammu and Kashmir Services Selection Board (JKSSB) aspirants taken out in Jammu city. Thousands of JKSSB aspirants gathered at Ranbir Library Chowk in Jammu city where they staged a strong protest against the JKSSB.

Raising slogans against the authorities, they demanded that the contract with Aptech company be revoked and an examination conducted from a company with clean reputation. The protestors said the authorities are putting their career at stake by allowing a blacklisted company to take examinations.

Farooq Abdullah on the occasion lambasted the authorities for suppressing the voice of unemployed youth and demanded of the JKSSB to cancel a contract with blacklisted company Aptech and some immaculate company to conduct recruitment exams. Later, Mehbooba Mufti along with her supporters also joined the protesting students and accompanied them during the candle march.

For more information, contact:
Kashmir Media Service
Phone: +92-51-4435548, +92-51-4435549
Fax: +92-51-4861736
Email: info@kmsnews.org
Website: www.kmsnews.org

Rahul Gandhi should be expelled from country: BJP MP

Bhopal, March 12, 2023 (PPI-OT): Terming Congress leader Rahul Gandhi’s statements in UK “shameful”, Bharatiya Janata Party MP, Pragya Thakur, said that the Wayanad MP must be thrown out of the country. Recently, Rahul Gandhi while addressing British parliamentarians in London said that functioning microphones of Opposition leaders in Parliament are often silenced. Speaking to media persons, the BJP MP said that the Congress is not allowing Parliament to function smoothly.

“The work is going well but the Congress is not allowed to run the government and the Parliament. They think that if Congress will run smoothly then more work will be done and if there is more work, then they (Congress) will not survive. Their (Congress) existence is on the verge of ending. Now their mind is also getting corrupted. You (Rahul Gandhi) are a leader of this country, have been elected by the people (here) and are now insulting the public and the country,” she said.

The BJP MP further said, “Chanakya had said a son born to a foreign woman can never be a patriot and that Rahul Gandhi had proved the saying was true.” “We have assumed you are not from India because your mother is from Italy,” Thakur said.

The BJP MP said that Rahul Gandhi should not be given a chance in politics and should be thrown out of the country. “While sitting abroad, you (Rahul Gandhi) are saying you are not getting an opportunity to speak in Parliament. Nothing can be more shameful than this. He should not be given a chance in politics and should be thrown out of the country,” Thakur added. Rahul Gandhi in the UK had attacked the BJP-led government and had levelled several allegations. In Cambridge, the Congress MP again alleged that the Opposition’s voice was being stifled in parliament.

For more information, contact:
Kashmir Media Service
Phone: +92-51-4435548, +92-51-4435549
Fax: +92-51-4861736
Email: info@kmsnews.org
Website: www.kmsnews.org

Sindh Chief Minister, NDMA agree to adopt technology for fight disasters

Karachi, March 11, 2023 (PPI-OT): Sindh Chief Minister Syed Murad Ali Shah and Chairman National Disaster Management Authority (NDMA) Lt Gen Inam Haider have agreed in. their meeting at CM House that modern technology would be adopted for disaster management.

The CM said that most of the natural disasters were weather related, therefore their forecast could be made much before their occurrences through technological help. He added that this would help the provincial and federal governments to make a contingency plan much before the disasters.

Chairman NDMA LT Gen Inam Haider said that his organization has developed close coordination with international agencies working to forecast weather and its related impacts. He added that the NDMA itself was installing weather-related latest equipment and gadgets to assess the weather and patterns of the disasters during the last few decades.

He told the CM that the provincial disaster management authorities would be also connected with their systems along with sharing daily reports and forecast warnings so that they can make their plans and necessary preparedness accordingly.

Murad Ali Shah said that his province was facing disasters from the 2010 flood, the 2011 flash floods, then the urban floods, and now heavy rains and floods. “We must learn lessons from these natural disasters and must equip and strengthen our institutions to mitigate the impact of such disasters through contingency plans and timely forecasts.

In the meeting, they agreed to further strengthen coordination between the NDMA and the PDMA so that proper planning could be made to mitigate the impacts of natural disasters.

For more information, contact:
Press Secretary,
Chief Minister House, Sindh
Tel: +92-21-99202019(Ext: 336)
Website: www.cmsindh.gov.pk

IG Punjab met assistant sub inspectors at central police office under “meet the force” project

Lahore, March 11, 2023 (PPI-OT): Inspector General Police Punjab Dr. Usman Anwar has said that effective steps have been taken under a comprehensive strategy to raise the morale of the police force and provide them best welfare within available resources. Under the new policy, martyrs and Ghazis are not only being given honor and respect but also good measures are being taken to solve the problems of Sipah performing field duties.

IG Punjab said that the matters related to promotion of force are being dealt with on priority basis and the meritorious personnel are being given their right, while the brave martyrs and Ghazis who sacrificed their lives in performance of their professional duties are being honoured with gold and silver medals.

Dr. Usman Anwar said that special measures will continue for the welfare of the police force, children’s education, marriage of daughters and other matters, in return for all these measures, the department will only ensure from you to serve the citizens of Pakistan and immediate delivery of justice to them.

IG Punjab asked the ASIs to pledge that no effort will be spared in protecting lives and property of citizens, eradicating crimes and maintaining peace in the society. Dr. Usman Anwar directed to speed up the crackdown against the proclaimed offenders and arrest them and give them severe punishment.

He directed to keep close liaison with FIA and Interpol for cancellation of passports of proclaimed offenders abroad to get them under grip of law. Dr. Usman Anwar said that intelligence-based operations will be speeded up to eradicate the scourge of drugs and bring drug dealers to justice, whose reports should be sent to the Central Police Office regularly.

He expressed these views while meeting Assistant Sub-Inspectors under “Meet the Force” project at the Central Police Office today. IG Punjab informed the ASIs serving in different districts about his policy guidelines.

IG Punjab directed that the police force should focus all its attention on the service and protection of the citizens, there will be no reduction in measures to solve the problems faced by the officials.

IG Punjab said that memorandums of understanding (MOUs) have been made with various institutions for admissions and fee concessions to the children of police employees in higher educational institutions so that the police employees can get all possible facilities.

He directed that the investigating officers should bring the cases to their logical conclusion as soon as possible with the effective use of modern technology and that the accused involved in serious crimes should be given real punishments.

On this occasion, IG Punjab inquired from the ASIs about promotions, duty difficulties and other problems and issued orders on the spot to remedy them. Additional IG Welfare Riaz Nazir Gara, DIG Establishment Dr. Inaam Waheed and DIG IT Ahsan Younis and other officers were also present on this occasion.

For more information, contact:
Punjab Police
Punjab Police Computer Bureau,
5th Floor, Central Police Office (CPO),
Punjab, Lahore
Tel: +92-42-99213019, +92-42-99213013
Fax: +92-42-99213012
Email: sapcb@punjabpolice.gov.pk
Website: www.punjabpolice.gov.pk

Meeting of the Asia-Pacific Group of IPU in Media Centre, Bahrain International Circuit at the side-lines of the 146th IPU Assembly and related meetings in Manama, Kingdom of Bahrain

Islamabad, March 11, 2023 (PPI-OT): Senator Farooq H. Naek elected unopposed as a Member of IPU’s Standing Committee on Human Rights and Democracy during meeting of Asia-Pacific Group (APG) of Inter-Parliamentary Union (IPU) held in Media Centre, Bahrain International Circuit (BIC) at the side-lines of the 146th IPU Assembly and related meetings in Manama, Kingdom of Bahrain.

Joint Parliamentary delegation from Pakistan is headed by Senator Farooq H. Naek and includes Senator Mushahid Hussain Sayed and Members of National Assembly of Pakistan.

The delegation is currently in Manama on the invitation of IPU and the Parliament of Bahrain for participation in the 146th IPU Assembly and related meetings from 11th to 15th March, 2023 held at Exhibition World Bahrain (EWB). The overall theme of the IPU Assembly is “Promoting peaceful coexistence and inclusive societies: Fighting intolerance”.

Senator Farooq H. Naek was nominated by the Honourable Chairman Senate of Pakistan for vacancy against IPU Standing Committee on Democracy and Human Rights to be filled during 146th IPU Assembly and related meetings. Senator Farooq H. Naek was elected unopposed as the delegation from the Kingdom of Thailand withdrew their candidature in favour of nomination from Pakistan.

While speaking to the Parliamentarians from the Asia-Pacific Group Members countries Senator Farooq H. Naek apprised that being a seasoned Parliamentarian and a Professional lawyer he has always played a significant role for the promotion of democracy and human rights and also possess a wide ranging experience in National and International Parliamentary and legal fora.

Senator Farooq H. Naek also expressed his gratitude to the Members for supporting the candidature from Pakistan and assured to represent the Asia-Pacific Group in an effective manner.

The Inter-Parliamentary Union (IPU) is the global organization of National Parliaments, based in Geneva, Switzerland, dedicated to promoting peace through parliamentary diplomacy and dialogue has since grown into a truly global organization. IPU currently has 178 Members and 14 Associate Members.

For more information, contact:
Senate of Pakistan
H.No.7, Cat-II, G-8/2, Islamabad, Pakistan
Tel: +92-51-9204564534
Fax: +92-51-9205703
E-mail: senate@comsats.net.pk
Website: www.senate.gov.pk