State Bank of Pakistan rates for conversion of Foreign Currency Deposits, Dollar Bearer Certificates, Foreign Currency Bearer Certificates, Special United States Dollar Bonds and profit thereon March 19, 2015

Karachi, March 19, 2015 (PPI-OT): The following rates will be applicable for conversion into rupees of Foreign Currency Deposits, Dollar Bearer Certificates, Foreign Currency Bearer Certificates, Special U.S Dollar Bonds […]

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Karachi, March 19, 2015 (PPI-OT): The following rates will be applicable for conversion into rupees of Foreign Currency Deposits, Dollar Bearer Certificates, Foreign Currency Bearer Certificates, Special U.S Dollar Bonds and profit thereon by all banks and for providing Forward Cover on Foreign Currency Deposits (excluding F.E-25 deposits) by the State Bank on March 20, 2015.

Currency         Rate in Pak Rupee

U.S. Dollar         102.0299

Japanese Yen          0.8458

Pound Sterling      151.7083

Euro                108.8149

For more information, contact:
Syed Wasimuddin
Chief Spokesman
State Bank of Pakistan (SBP)
Tel: +9221 3921 2562
Fax: +9221 3921 2563
Email: syed.wasimuddin@sbp.org.pk

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State Bank of Pakistan should pave way for much-needed new investments by bringing down discount rate in upcoming monetary policy: Ijaz A. Mumtaz

Lahore, March 19, 2015 (PPI-OT): State Bank of Pakistan (SBP) should pave way for much-needed new investments in the industrial sector by bringing down discount rate in the upcoming monetary […]

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Lahore, March 19, 2015 (PPI-OT): State Bank of Pakistan (SBP) should pave way for much-needed new investments in the industrial sector by bringing down discount rate in the upcoming monetary policy.

In a statement issued here Thursday, President of the Lahore Chamber of Commerce and Industry Ijaz A. Mumtaz said that though State Bank of Pakistan was doing right moves by bringing down the discount rate in the last monetary policy but that was not enough to give a breathing space to the industrial sector.

Ijaz A Mumtaz said that a notable cut of at least 2 percent in the discount rate by the State Bank of Pakistan would inject fresh blood to the industrial sector which was facing a number of internal and external challenges.

LCCI President said that SBP positive initiative would also make the Pakistani products competitive in the international market as fluctuation in discount rates controls the industrial input cost.

He said that this fact should be an eye opener for the policy makers that Japan, Sweden and Switzerland are aiding their industrial sector at 0% discount rate as compared to 9.5 percent in Pakistan.
Ijaz A. Mumtaz said that the benchmark interest rate in Pakistan was last recorded at 10 percent. He said that interest Rate in Pakistan averaged 12.55 Percent from 1992 until 2014, reaching an all time high of 20 Percent in October of 1996 and a record low of 7.50 Percent in November of 2002.

He said that State Bank of Pakistan has to bring down the interest rates keeping in view the ground realities and strict competition in the international market. He said that a cut of 50 to 100 basis points would not be doing any service to the challenged economy.
He said that it was very unfortunate that we have failed to learn any lesson from the tighter monetary policy stance adopted by the State bank of Pakistan in the yester years.

LCCI President said that ongoing economic scenario shows that there is hardly any time left for economic managers of the country and they all should understand well that a 50 to 100 basis point cut will be too little.

He said that it is now before all of us that high markup rate is no more sustainable. It has been causing a great harm to economy and would continue to do so unless and until a realist approach is adopted.

Ijaz A. Mumtaz said that the State Bank of Pakistan should understand that its continued tighter stance is inflicting a very heavy loss on the nation as the economy has already paid a very high price because of high interest rate.

He urged the State Bank of Pakistan to announce at least 200 basic points cut in markup rates that would certainly give jumpstart to the economic activities in the country.

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: +92-42-111-222-499
Fax: +92-42-6368854

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Traders call for early completion of Metro Bus Project

Islamabad, March 19, 2015 (PPI-OT): A delegation of Traders Welfare Association, G-9/4 Market (Peshawar More), Islamabad led by its President Haji Nisar Langa visited Islamabad Chamber of Commerce and Industry […]

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Islamabad, March 19, 2015 (PPI-OT): A delegation of Traders Welfare Association, G-9/4 Market (Peshawar More), Islamabad led by its President Haji Nisar Langa visited Islamabad Chamber of Commerce and Industry and called for early completion of Metro Bus project as due to this project, all major roads to Peshawar More Market were closed causing huge business losses to the trading community of the area.

Addressing the delegation, Muzzamil Hussain Sabri, President, Islamabad Chamber of Commerce and Industry said that the Peshawar More market was the 2nd oldest market of Islamabad and CDA should pay priority attention to address its issues. He said ICCI has developed good liaison with CDA, FBR, SNGPL, local administration and police and market unions should share their concerns with the Chamber so that their issues could be taken up with relevant departments. He stressed upon the need of good working relations and close liaison between Chamber and market unions that would help in early redress of traders’ key issues.

Abdul Rauf Alam, Chairman Founder Group said that traders and industrialists of the Federal Capital were facing many issues. However, he stressed that the whole business community of Islamabad should develop strong unity and get together at a single platform for better protection of their business interests. He said business community should rise above personal interests and adopt collective approach for resolution of their problems.

Speaking at the occasion, Haji Nisar Langa, President, G-9/4 Market said that due to ongoing construction of Metro Bus track, all major roads to Peshawar More Market were closed. This situation was causing huge business losses to the traders as customers were facing difficulty in accessing this important business center. He urged that Metro Bus project should be completed as early as possible to save traders of the area from further losses.

He said the broken roads and footpaths and overflowing sewerage lines in Peshawar More market have created additional problems. He said CDA was planning to demolish a 36 years old Masjid in Peshawar More which was not a wise move as the Masjid was constructed on self-finance basis by the residents of the area. He called upon the CDA to focus on development of Peshawar More market on modern lines as it was serving a large base of customers and playing important role in promoting business activities in the federal capital.

Mian Akram Farid, Vice President FPCCI, Ajmal Baloch Traders Leader and Dr. Tehzeeb Secretary General TWA G-9/4 also spoke at the occasion and called for early redress of highlighted issues. Muhammad Ashfaq Hussain Chatha, Vice President ICCI in his vote of thanks assured that ICCI would fully cooperate with TWA G-9/4 for resolution of their issues.

Mian Shaukat Masud, Khalid Iqbal Malik, Malik Sohail Hussain, Tahir Abbasi, Khalid Chaudhry and others were also present at the occasion.

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

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Union of Small and Medium Enterprises demands cut in documentation for ease in doing business

Karachi, March 19, 2015 (PPI-OT): The Union of Small and Medium Enterprises (UNISAME) pointed out that in the World Bank’s 2015 ‘ Doing Business Report ‘ Pakistan is placed at […]

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Karachi, March 19, 2015 (PPI-OT): The Union of Small and Medium Enterprises (UNISAME) pointed out that in the World Bank’s 2015 ‘ Doing Business Report ‘ Pakistan is placed at 128 amongst the 189 countries probably this indicates Pakistan needs to make doing business easy and go beyond efficiency and achieve a better ranking.

President UNISAME Zulfikar Thaver said there is too much of documentation involved for both import and export whereas it needs to be simplified and reduced. Documentation involves time, energy and increases the cost of the transaction. Shipments have to be smooth and swift because vessels carry on their voyages as per schedule and do not wait for import or export cargo. At present the exporter in Pakistan has to prepare a number of documents for a single shipment which is mere duplication of description, quantity, quality, shipping marks, packing and serial numbers of shipping documents.

Most of the Gulf and Middle east countries require the documents to be legalized by their own consulates or embassies. The consulates and embassies only legalize documents which are attested by chamber of commerce and then by the Pakistan foreign office. All this is time consuming and expensive and a long waiting period is required.

India has reduced the requirements of documents to only 3 both for import and export. and has notified only 3 mandatory documents. The requirement for export is Shipping bill supported by commercial invoice, packing list and bill of lading and for import it is bill of entry supported by commercial invoice, packing list and bill of lading. Pakistan also needs to simplify import and export to promote exports and imports.

The SMEs need to be facilitated and all unnecessary documentation must be done away with. In case of goods where no objection certificate is required it must be issued without loss of much time.

Thaver said doing business must be made easy and transaction cost must be reduced to make our goods competitive.

Giving example of rice export shipment he said the shipper is required to submit besides the invoice, packing list and bill of lading several documents like phytosanitray, health, fumigation, inspection and also inspection by Quality Review Committee (QRC), certificate of origin, bill of exchange and other documents required by the buyer attested by the chamber of commerce, then by the foreign office and finally y the consulate or embassy of the importing country.

In the case of import of scrap tyres for furnaces the importers have to face objection from the environment ministries of the provinces although the units have their control systems. The regime of no objection certificates (NOCs)is causing hardships and the big businessmen can cope up with it but the SMEs are bothered.

UNISAME therefore demands one window operation, removal of NOCs culture and reduction in documentation.

UNISAME has appreciated the adoption of filing electronic returns by the SECP, FBR and partially by the Customs and has urged the filing of electronic applications by the Trade Marks Registry, PTCL and other organizations to make life easy for the SMEs.

UNISAME also appreciated that the FIR with the police head office could be lodged electronically and stated that these were positive steps taken by the government but stressed that the governments need to do more to make doing business easy.

For more information, contact:
Union of Small and Medium Enterprises (UNISAME)
75/1 3rd Commercial Street,
Phase IV, D.H.A., Karachi, Pakistan
Tel: +92-21-35884225-6
Fax: +92-21-35380642
Cell: +92-300-8245307, +92-321-8245307
Email: unisame@gmail.com

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Microsoft’s pioneering Event Management Portal to facilitate Higher Education Commission training programmes

Lahore, March 19, 2015 (PPI-OT): Microsoft and the Higher Education Commission (HEC), Pakistan have collaborated to create an online portal “National Event Management System” (NEMS), developed by Xelleration Pakistan, for academic activities of higher education institutes. The purpose-built and enriched online portal will enable HEC to effectively manage over 3000 events, organized by universities and …

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Lahore, March 19, 2015 (PPI-OT): Microsoft and the Higher Education Commission (HEC), Pakistan have collaborated to create an online portal “National Event Management System” (NEMS), developed by Xelleration Pakistan, for academic activities of higher education institutes. The purpose-built and enriched online portal will enable HEC to effectively manage over 3000 events, organized by universities and HEC under a country-wide Education-Alliance between Microsoft and HEC. Based on Microsoft Office 365 (SharePoint Online), this portal will also facilitate and inform the potential participants and attendees about the events as scheduled and published.

This pioneering facility will be offered to more than 157 universities and campuses, facilitating over one million students, faculty members and staff across the country. HEC – being the facilitator of the educational sector, will now be able to closely view and strategize education planning based on the audience feedback extracted from this portal. This portal offers user registration, attendance, and self-service scheduling of various activities for diversified events and also solve the problems highlighted in the feedback received from the participants.

The administration teams at universities can use this comprehensive facility to; manage events, manage facilities/ resources and reserve rooms for the events. A special feature will enable them to invite attendees for an event, or help them in self-enrolment. The portal also offer publishing & sharing the events on Social Media. Post-event feedback collection from the users through an automated mechanism and subsequently extracted from the portal. One click view of graphs and charts, representing the number of events, are amongst the main features of this portal, which can be compiled according to various disciplines or subjects, e.g. Engineering events, Medical events, etc.

A special inauguration ceremony was held in which this National Event Management System was inaugurated by Prof. Dr. Mukhtar Ahmed, Chairman HEC with the launch of portal available at http://pern-public.sharepoint.com. Mr. Harb Bou-Harb, Public Sector Director of Microsoft- NEPA region was also present on the occasion. The event was also attended by Prof. Dr Mansoor Akbar Kundi, Executive Director HEC, Anwar Amjad, Director General IT HEC, Abid Zaidi Country Enterprise & Partner Group Director Microsoft Pakistan and Jibran Jamshad, Enterprise Technology Strategist Microsoft Pakistan.

“HEC will continue to play its key role in facilitating and strengthening the institutions of higher learning in Pakistan. National Event Management System has been meticulously designed to effectively resolve the operational challenges and enhancing the productivity of hundreds of events in diversified discipline, organized by and for HEIs across Pakistan, every year. It will also help in addressing the concerns and issues faced by participants in these events”, said Anwar Amjad, Director General (IT), HEC.

The Regional Public Sector Director of Microsoft NEPA – Harb Bou-Harb stated that; “It is a matter of pride for Microsoft to facilitate the creation of this sophisticated online facility, which will go a long way in streamlining the insightful events, conducted and managed by Higher Education Commission annually. Microsoft is fully committed to foster educational initiatives across the globe and elevate the standards of education in the developing world”.

“Today’s Educational institutions are aiming to prepare their students & faculty for the world beyond classrooms. They are empowering them by providing devices, access to software, training and other elements needed for outcome based learning” said Abid Zaidi, Country Enterprise & Partner Group Director, Microsoft Pakistan. “At Microsoft, we are proud to be the strategic partner of Higher Education Commission of Pakistan, which is leading the way forward for higher education and helping students realize their true potential through such initiatives.”

For more information, contact:
Haseeb Shaukat
Manager Marketing and Communication
Microsoft Pakistan
Pakistan
Tel: +92-21-35839934
Email: a-hs@microsoft.com

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سگما-آلڈرچ نے روش کے ساتھ خصوصی تقسیمی معاہدے کا اعلان کردیا

– محققین کو روش کے بایوکیمیکل ریجنٹس پروڈکٹ پورٹ فولیو تک عالمی رسائی کی فراہمی سینٹ لوئس، 19 مارچ 2015ء/ پی آرنیوزوائر/ ایشیانیٹ پاکستان — حیاتی سائنس و ٹیکنالوجی کے معروف ادارے سگما-آلڈرچ کارپوریشن (نیس ڈیک: SIAL) نے آج اعلان کیا ہے کہ اس نے روش (ایس آئی ایکس: RO، ROG؛ او ٹی سی کیو […]

– محققین کو روش کے بایوکیمیکل ریجنٹس پروڈکٹ پورٹ فولیو تک عالمی رسائی کی فراہمی

سینٹ لوئس، 19 مارچ 2015ء/ پی آرنیوزوائر/ — حیاتی سائنس و ٹیکنالوجی کے معروف ادارے سگما-آلڈرچ کارپوریشن (نیس ڈیک: SIAL) نے آج اعلان کیا ہے کہ اس نے روش (ایس آئی ایکس: RO، ROG؛ او ٹی سی کیو ایکس: RHHBY) کے ساتھ خصوصی عالمی تقسیمی معاہدے پر دستخط کردیے ہیں۔ معاہدہ روش کے اعلیٰ ترین بایوکیمیکل ریجنٹس پروڈکٹ پورٹ فولیو کو سگما-آلڈرچ کی صنعت کی معروف ترین ای-کامرس اور رسدی زنجیر صلاحیتوں سے جوڑتا ہے۔

معاہدے کے تحت سگما-آلڈرچ اپنے سیلز، مارکیٹنگ اور ای-کامرس تجربے کو کام میں لائے گا اور سائنسی برادری کے ساتھ اپنے مضبوط تعلقات کا فائدہ اٹھائے گا تاکہ روش بایوکیمیکل پروڈکٹ پورٹ فولیو کو پیش اور تقسیم کرے، جس میں خلیوں کے جائزے، پروٹیومکس اور روایتی پی سی آر ایپلی کیشنز کے لیے کٹس اور اینزائمز شامل ہیں۔ مزیدمعلومات کے لیے www.sigma-aldrich.com/rocheدیکھیں۔

سگما-آلڈرچ ریسرچ کے ایگزیکٹو نائب صدر اور صدر ایرک گرین نے کہا کہ “سگما-آلڈرچ عالمی سائنسی برادری کو روش کے سائنسی ٹولز اور ریجنٹس تک رسائی پیش کرنے پر خوش ہے۔ حیاتی سائنس کے ان ٹولز کا اضافہ ان مصنوعات کے ساتھ ہمارے پورٹ فولیو کو بڑھانے کی حکمت عملی کو سہارا دیتا ہے جو صارفین  کے سائنسی تحقیق کے پروگراموں کو تیز تر کرتے ہیں۔ ہماری نظریں اس تعلق میں روش کے ساتھ کام کرنے پر مرکوز ہیں۔”

روش مالیوکیولر ڈائیگنوسٹکس کے سربراہ پال براؤن نے کہا کہ “یہ معاہدہ ہمیں سگما آلڈرچ کے پھیلے ہوئے ای-کامرس اور تقسیمی جالوں کے ذریعے اعلیٰ معیار کی روش بایوکیمیکل ریجنٹ مصنوعات تک رسائی کے حامل زیادہ صارفین فراہم کرنے کی سہولت دیتا ہے۔ مزید برآں، یہ ہمیں اپنے بنیادی توجہ کے شعبوں کے لیے زیادہ وسائل وقف کرنے کے لیے لچک فراہم کرے گا۔”

روش پورٹ فولیو کی سگما-آلڈرچ میں منتقلی 2015ء میں ہونا متوقع ہے۔ عبوری دور میں یہ مصنوعات موجودہ روش چینلوں کے ذریعے دستیاب رہیں گی۔ مزید معلومات کے لیے روش اور سگما -آلڈرچ کی ویب سائٹیں دیکھیں۔

کاپی رائٹ 2015ء سگما-آلڈرچ کمپنی ایل ایل سی۔ جملہ حقوق محفوظ۔ سگما-آلڈرج اور ایس اے ایف سی سگما-آلڈرچ کمپنی ایل ایل سی یا اس کے ملحقہ اداروں کے تجارتی نشانات ہیں، جو امریکہ اور دیگر ممالک میں مندرج ہیں۔

سگما-آلڈرچ اور سگما امریکہ اور دیگر ملکوں میں مندرج سگما-آلڈرچ کمپنی ایل ایل سی کے تجارتی نشانات ہیں۔

Sigma-Aldrich Announces Exclusive Distribution Agreement with Roche

– Provides Researchers with Global Access to Roche Biochemical Reagents Product Portfolio ST. LOUIS, March 19, 2015 / PRNewswire / Asianet-Pakistan – Sigma-Aldrich Corporation (NASDAQ: SIAL), a leading Life Science and Technology company, announced today it signed an exclusive global distribution agreement with Roche (SIX: RO, ROG; OTCQX: RHHBY). The agreement pairs Roche’s high-quality Biochemical Reagents product […]

– Provides Researchers with Global Access to Roche Biochemical Reagents Product Portfolio

ST. LOUIS, March 19, 2015 / PRNewswire – Sigma-Aldrich Corporation (NASDAQ: SIAL), a leading Life Science and Technology company, announced today it signed an exclusive global distribution agreement with Roche (SIX: RO, ROG; OTCQX: RHHBY). The agreement pairs Roche’s high-quality Biochemical Reagents product portfolio with the industry-leading eCommerce and supply chain capabilities of Sigma-Aldrich.

Under the agreement, Sigma-Aldrich will employ its sales, marketing and eCommerce expertise, and leverage the strength of its relationships with the scientific community, to present and distribute the Roche Biochemical Reagents product portfolio, which includes kits and enzymes for cellular analysis, proteomics and conventional PCR applications. For more information, visit www.sigma-aldrich.com/roche.

“Sigma-Aldrich is excited to offer the global scientific community access to Roche’s leading portfolio of scientific tools and reagents. The addition of these life science tools supports our strategy to augment our portfolio with products that accelerate customer scientific research programs,” said Eric Green, Executive Vice President and President, Sigma-Aldrich Research. “We look forward to working with Roche in this relationship.”

“This agreement allows us to provide more customers with access to high-quality Roche Biochemical Reagent products through Sigma-Aldrich’s expanded eCommerce and distribution networks,” said Paul Brown, Head of Roche Molecular Diagnostics. “In addition, this will provide us the flexibility to devote more resources to our primary focus areas.”

Transition of the Roche portfolio to Sigma-Aldrich is expected to take place in 2015. In the interim, these products will continue to be available through existing Roche channels. For more information, visit the Roche or Sigma-Aldrich websites.

©2015 Sigma-Aldrich Co. LLC. All rights reserved. Sigma-Aldrich and SAFC are trademarks of Sigma-Aldrich Co. LLC or its affiliates, registered in the U.S. and other countries.

Sigma-Aldrich and Sigma are trademarks of Sigma-Aldrich Co. LLC., registered in the US and other countries.

Pakistani business delegation calls on Mushahid Ullah Khan in Kyrgyzstan

Bishkek, March 19, 2015 (PPI-OT): A delegation of expatriate Pakistani business community here today called upon Federal Minister for Climate Change and Senator, Mr. Mushahid Ullah Khan. The delegation included, […]

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Bishkek, March 19, 2015 (PPI-OT): A delegation of expatriate Pakistani business community here today called upon Federal Minister for Climate Change and Senator, Mr. Mushahid Ullah Khan. The delegation included, among others, the representative of Russian Business Companies in Bishkek Eduardo Nevidor and Manager National Bank of Pakistan in Bishkek Alla Ditta.

The delegation briefed the minister about the contribution of Pakistani business community in Kyrgyzstan’s economy. Matters regarding abundant opportunities for boosting economic, social and cultural ties between Bishkek and Islamabad also came under discussion during the meeting. The delegation members also informed of abundant marketing potential for Pakistani productions in Commonwealth of Independent States (CIS).

Mushahid Ullah Khan assured the Pakistani delegation to play his role in boosting socio-economic ties between the two countries and convey it to the Pakistani prime minister to tap the potential for Pakistani products in CIS. The meeting was organized by the Bachsh Sangi, who is head of the Pakistan’s mission in Kyrgyzstan’s capital.

For more information, contact:
Muhammad Saleem
Deputy Director
Media and Communication
Ministry of Climate Change
Government of Pakistan
LG and RD Complex, G-5/2, ISLAMABAD
Ph: 051-9245565
E-mail: moccpakistan@hotmail.com
Web: http://www.mocc.gov.pk/

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