Siemens has the distinction of exporting
engineering goods for the first time from Pakistan
Mr. Suhail Wajahat
Mr. Suhail Wajahat, Managing Director and Chief Executive Officer of Siemens Pakistan, holds a covetous and accredited Degree of MS in Electronic Engineering from London, United Kingdom. Mr. Suhail joined the Siemens Pakistan, in early Eighties, yet before reaching to this high slot as MD and CEO, he held various high positions in Siemens. After taking over this high position in Siemens, he succeeded in increasing many valuable credentials for Siemens company in a very short time; like firstly he succeeded in persuading top management of Siemens in Germany, for the investment in Pakistan, secondly he played like a brilliant paradigm that helped in attracting investors, from many other countries, following the example of Siemens investment to Pakistan. In recognition of his services for the nation and country, he was awarded the "Sitarai Imtiaz", during the special ceremony held on 14th August 2008, and award conferred upon him by Prime Minister of Pakistan, at Islamabad. He has also been conferred few other prestigious awards such as "Leading Industrialist - 2007", besides that, for his exceptional achievements, he was also awarded with "Award for Special Achievements - 2003". He has the distinction that, he is playing as an active player and member in many other Boards of private and public sector institutions and corporations, exclusively TDAP, EPZA, KS so on and so forth. All these remarkable achievements resulted to augment the impression of Siemens, on national and international level. This further impacted in visible advancements in the engineering and foreign investment sectors - a crystallized testament of great progress in trade and commerce sector. He holds an additional distinction like "the first ever non-European Head of Siemens Company" in 150 years long history. Additionally, he is quite famous, being a dedicated personality, who has always lived up to the highest standards of corporate sector, in meeting his social and professional responsibilities. He is also playing his major role to promote the cause of technical education in the country. Mr. Suhail Wajahat is presently engrossed, on a highly significant mandate - promote Engineering Vision 2010, and find broader ways and means to attract foreign investment to Pakistan.  >>>>>

Metro Cash & Carry Pakistan opens first
wholesale centre in Karachi
Metro Cash & Carry, the international leader in self-service wholesale, opens its outlet in Karachi. After the successful opening of its four wholesale centers, two in Lahore store one in Islamabad and one in Faisalabad, the launch of Karachi store underline the continuing commitment of the company to Pakistan. METRO Cash & Carry exclusively carters to professional customers like hotels, restaurants and small retailers e.g. Kiryana stores. The assortments and services are customized to suit the special needs of the target groups.  >>>>>

Hither or thitherward
By: Mawaiz Khan Akash
We accept and concede that Rome was not built in a day. Well, till today it's reality and originality is there without any contradiction or discrimination. The persuasive movements, untiring efforts and unmatched zeal towards a respected and an emerging state of South Africa, made the Romans a great Nation. Now the question appears how many days, weeks, months, years and decades we need to be thoroughly conversant with the importance  >>>>>

World economy to shrink for first time in 60 years
International Monetary Fund says the total of goods and services produced around the world is projected to slump by 1% in 2009. WASHINGTON: The global economic slowdown is so severe that the worldwide economy will contract for the first time in 60 years, the International  >>>>>

PRGMEA monitors export performance and provide
related information and market
knowledge to members
Dawood Usman Jakhura is persevera-nce in his responsibilities as he contested election for this respectable seat. His sincere co-operation, selfless attitude, attentiveness towards his leadership and members and unmatched enthusiasm is no long comparable. He did his B.Com and LLB 1960 and 1964 respectively. He is still working as a chairman of Pakistan Readymade Garment Industry Manufacturers and exporters Association. PRGMEA is the premier trade organization representing the Readymade Garment Industry in Pakistan. PRGMEA was established in 1981 to provide advice and services to manufacturers and exporters and to promote a better environment for trade. As a trade organization, it is recognized by the Government of Pakistan and affiliated with the Federation of Pakistan Chamber of Commerce & Industry, and with the Employers' Federation of Pakistan.  >>>>>

Democracy has flexible approach
After the great crusade for restoring the Chief Justice, at last government and Elites capitulate before protestor and deposed CJ Iftikhar Muhammad Chaudhery has been restored with honour and dignity along with his companion judges. Pakistan economy and law order situation has been worst during entire turmoil. Now the business community and common man have taken a breath of gratification after a long tenure of chaos and mayhem. The decision of Pakistani government led by the Peoples Party was admirable to overcome the crisis and it is better to oblige that the government has not stood on the wall of ego.  >>>>>

Towel Manufacturers' Association of Pakistan is working like a bridge between Govt. and Towel Industry  Mr. Feroze Alam Lari
Personality is only ripe when a man has made the truth his own. Mr. Feroz Alam Lari is a target-oriented personality, his perpetual efforts and unmatched devotion and dedication brought him to a honourable post, the Chairman of Towel Manufacturers' Association of Pakistan. By his educational background he is B.Com and many other technically courses completed thereby advancing his professional career and linking his technical field.
He contested election, as a successful candidate for this respected seat of Chairman of Towel Manufactures' Association. Towel industry in Pakistan was practically nonexistent prior to 1965. It started on a very small scale in 1965. After covering some stages, the Towel Manufacturing Group was formed locally at Karachi and got recognized by the Ministry of Commerce in May 1972. In the year 1976 the group was elevated to the status of an Association on All Pakistan basis and got affiliated with the Federation of Pakistan Chamber of Commerce & Industry. Further it is divided into two circles TMA Southern Circle (Sindh & Baluchistan) and TMA Northern Circle (Punjab and NWFP).  >>>>>

Muhammad Rizwan elects member of
KCCI's Sub-Committee
KCCI has selected Muhammad Rizwan the member sub-committee of law & order fair exhibition & Trade delegation and import & inti-samuggling.
Muhammad Irfan the President of Karachi Electronic and small Traders' Association has congratulated the selected candidate.
While Muhammad Rizwan was of the view that he is extremely thankful to President KCCI Anjum Nisar and members of sub-committee to be honouring such a responsible post. Muhammad Rizwan added that he would leave no stone unturned to fulfill his responsibilities in his first priority.

World Bank weighs $11B to finance global trade
Trade finance facility to be considered at the G20 summit could generate an additional $50 billion a year for global commerce, source says.
GENEVA: A trade finance facility to be discussed by the World Bank and its affiliates at the G20 summit of leading nations on April 2 will offer $10-11 billion in funds, a senior trade source said.
Because funds in the "global trade finance liquidity pool," mainly for short-term use, can be rolled over, the facility could generate an additional $50 billion a year, the source said after a meeting of experts from commercial banks, export-credit agencies and international financial institutions hosted by the World Trade Organization.

The Banks Again For A Huge Gain
The complete inability of the banks to offer any solution to their current problems, other than to have the taxpayers pay for their bailout is the best case for some form of government intervention. Nationalization is a disgusting word to me, but even I have reached the point of believing something needs to be done to pull us out of this mess. Bankers have always been a strange group to me. They are the first and loudest to scream about  >>>>>

Ten Business Predictions for 2009
Recession will run rampant but housing prices will hit bottom-finally. Also: Consumers lose the bling, 3D's resurgence, and more crystal-ball calls Two words apply well for the year just ended: Whoa, Nelly! With the financial markets in chaos, the jobs landscape littered with layoffs, and the most audacious outpouring of federal funds since the Great Depression, most of us are ready to look forward to cheerier times in 2009.  >>>>>

Banking sector's profits plunge
KARACHI: Profitability of Pakistan's banking sector declined sharply during the last year owing to multiple reasons, reflecting the deteriorating economic conditions of  >>>>>

Inauguration of new branch
By the grace of Almighty Allah Bank AL Habib Limited branch network now has 229 branches including two offshore Banking Units in Bahrain and EPZ. The latest branch added to our network is now operational in Rashid Minhas Road, Karachi.

Banks in Pak have an edge over peers in Asia
Karachi -Robust balance sheets, stellar capitalization as well as attractive valuation metrics indicate that the commercial banks as well Islamic Banks standout more  >>>>>

Country's banking sector got strong: SBP Governor
ISLAMABAD: A joint task force constituting of State Bank of Pakistan (SBP) and Securities Exchange Commission of Pakistan (SECP) has been set up for monitoring the financial system of the country, while the SBP Governor said that the banking sector in the country has strengthened.
SECP chief told that the Competition Commission of Pakistan (CCoP)'s penalties imposed on the bourses are being challenged in the court.
SBP Governor, Saleem Raza and acting chairman SECP, Salman Sheikh inked here a concurrence on setting up the joint task force for monitoring the financial system.
Later talking to the media, SBP Governor said that the banking sector of the country was strong and its existing financial resources were over Rs400 billion more than required limit. When quizzed on country's loans, he told that concerned government offices were being tuned up with the resources obtained from foreign and local markets.

Asian shares soar to 2-month high
Investors cheer U.S. plan to buy up to $1 trillion in bad assets from banks
HONG KONG: Asian stocks rose to a two-month high on Monday and high-yielding currencies advanced on the yen after details of a U.S. plan to rid banks of up to $1 trillion in toxic assets bolstered confidence in risk taking. The White House said it would put as much as $100 billion into a bailout fund and give attractive financing to private investors to buy highly illiquid assets from banks,  >>>>>

Should USA still be AAA?
NEW YORK: When the Federal Reserve announced last week it was buying $300 billion in long-term Treasury notes, the move was viewed as one of the safer bets the central bank has made recently. After all, the Fed has either bought or announced plans to spend trillions of dollars on troubled mortgages and other types of questionable consumer debt in the past year. At the same time, the Fed has been loaning money to banks and companies that couldn't get funding elsewhere. >>>>>

43 criminal investigations of Wall Street
The FBI says the total number of open corporate fraud investigations nationwide has also risen to 566.
WASHINGTON (CNN) -- Criminal investigations of Wall Street continue to soar and now total 43, a top FBI official told Congress Friday.
A month ago FBI Deputy Director John Pistole testified the number of major investigations numbered 36. In testimony on Friday, Pistole told the House Financial Services Committee the FBI now has "43 corporate fraud and financial institution matters directly related to the current financial crisis."
Pistole also said the total number of open corporate fraud investigations nationwide has risen to 566 -- up from 530 when he testified last month.
The number of FBI mortgage fraud investigation has also continued to climb, from about 1,800 in Pistole's earlier testimony to "more than 2,000."

Suncor to buy Petro-Canada for $18.4B
Canadian oil companies combine to create largest oil company in the country.
CALGARy: Suncor Energy Inc, Canada' No. 2 oil company, agreed to buy rival Petro-Canada for about $18.43 billion Canadian ($14.86 billion U.S.) to expand its oil sand reserves and create the country's biggest energy group.
The deal comes after a period of missed earnings targets and project delay at Petro-Canada, and is expected to be completed in the third quarter of 2009.
The all-share offer represents a premium of about 28% to the $29.65 Canadian closing price of Petro-Canada shares on Friday as assuming 484.4 million Petro-Canada shares outstanding as of Dec. 31, 2008.
On completion of the proposed deal, Suncor's existing shareholders will own about 60% and Petro-Canada shareholders will own about 40% of the merged company, the companies said.

S. M Muneer Nominated as Chairman Pakistan - Canada Business Council of FPCCI
Mr. Tanvir Ahmad Sheikh President FPCCI has nominated Mr. S M Muneer as Chairman of Pakistan - Canada Business Council of FPCCI for the year 2009. Mr. S M Muneer is a prominent businessman and Industrialist. He has also served as President of FPCCI and presently he is enjoying the portfolio of President of Indo Pak Chamber of Commerce & Industry, Vice Chairman of Muslim Commercial Bank of Pakistan and Chairman of Ms/. Din Group of Industries which is one of the leading Industries of Pakistan.  >>>>>

FPCCI elects Sheikh Manzar Alam the Chairman of Standing Committee of FPCCI for public relation
Karachi: FPCCI's President Sultan Chawala has elected Sheikh Manzar Alam the Chairman of Standing Committtee of FPCCI for public relation 2009-10. Sultan Chawala has expressed jubilation over electing Manzar Alam that he would play a significant role in boosting and embellishing Federation activities while materializing his past experience.

Minister apprises PM about new power generation
ISLAMABAD: Federal Minister for Water and Power, Raja Parvez Ashraf called on Prime Minister, Yousuf Raza Gilani at the PM's House and apprised him of the new power generation being added to the system to minimise power shortage in the country. The minister also briefed prime minister about the progress on the Neelam-Jhelum hydro power project. The prime minister expressed satisfaction over the completion of 165MW Attock power plant. The prime minister directed the Ministry of Water and Power for proper management of the power shortage in such a way that it should not affect the common man.

SBP OMO SIPHONS OFF RS7 BILLION
KARACHI: State Bank of Pakistan (SBP) has mopped up the additional liquidity of Rs7 billion from the banking system by resorting to open market operation (OMO). The Central Bank through OMO issued Treasury Bills for five days at 11.8 percent repo rate for absorbing the additional liquidity from the banking system. Banks had offered to buy T-Bills worth Rs9 billion, but the Central Bank preferred accepting banks' offer up to Rs7 billion for five days at 11.8 percent repo rate.

Ishtiaq Baig nominated the Senior Vice Chairman of FPCCI Standing Committee for Industry
Sultan Chawala the president of FPCCI has selected Ishtiaq Baig the Senior Vice Chairman of Standing Committee of FPCCI for Industry for 2009-10. Ishtiaq Baig has a plenty of experience in industrial field and he is also the Vice Chairman of Baig Group Industry. For the last ten years Denim Fabrics has been receiving "FPCCI Export Trophy" award for having significant export.

Pakistan loses millions due to crackdown
ISLAMABAD: Furious businessmen say they have lost millions of dollars due to a government-imposed blockade to stop mass protests, which had hammered a further nail into the moribund economy. Traders accused the government of impounding thousands of containers and trailers across the country, which were used to seal off highways and the exits of main cities to stop activists from marching towards the capital. Prime Minister Yousuf Raza Gilani ordered an end to the crackdown after the government caved into protesters demands to reinstate Iftikhar Muhammad Chaudhry who was sacked under emergency rule in 2007. "Owners charge Rs 7,000 a day for a container, thus it caused a loss of Rs 175 million," Majyd Aziz, a business leader based in the southern port city Karachi, told AFP. Losses from commodities, which should have been carried by the trailers and containers, also ran into millions of dollars, he said.
"They included perishable items, which have gone for good," said Aziz. "The trailers were carrying huge export consignments, which cannot be shipped on time, thus our exporters have faced cancellation orders from the buyers and suffered huge losses," Aziz said.

MAP election: Masood Hashmi records historic victory
KARACHI: Masood Hashmi, CEO of Orient McCann recorded a historical victory in the election of MAP by receiving 98 percent of the votes. Masood Hamid and Naeemuddin Syed were also elected as council members, while Sarmad Ali and Aslam Allawala already elected unopposed.

Mr. Waseem-ur-Rehman nominated as Chairman FPCCI Standing Committee on Law & Order (2009-2010)
Mr. Sultan Ahmed Chawla, President Federation of Pakistan Chamber of Commerce & Industry FPCCI has nominated Mr. Waseem ur Rehman as a Chairman of FPCCI Standing Committee on Law & Order for 2009 - 2010. Mr. Waseem is a prominent businessmen and leading Industrialist of Pakistan.
In a recent meeting held with Syed Qaim Ali Shah, Chief Minister Sindh on March 4, 2009 at CM House Karachi, the CM Sindh accepted his proposal that the liaison between the law & order committee of FPCCI with law enforcing agencies will be formed.
Mr.Waseem is a Life Member SAARC Chamber of Commerce & industry, Sr. Vice Chairman Pakistan Kiryana Merchants Association and a former Chairman Anti Smuggling Committee.

GLOBAL ECONOMY TO SHRINK IN 2009: WB
BRUSSELS: The global economy will likely shrink by 1% to 2% in 2009, World Bank President Robert Zoellick said. International organizations should be prepared to monitor economic stimulus actions being taken across the world to see if more will be needed, he said.  >>>>>

Ahmed Nawaz Jagirani joins the SITE Ltd Board of Directors
Provincial Minister for Industries & Commerce M. A. Rauf Siddiqui has concluded Ahmed Nawaz Jagirani (Deputy Managing Director of Site Ltd) in the Board of Directors of Site Ltd on his excellence performance.

BILATERAL TRADE WITH KOREA TO ACCELERATE
Mr. Kyong Yong Kim, Chief of Mission & Consul General, Embassy of Republic of Korea and Mr. Yong-Hwa Jung, Director, Korea Trade-Investment Promotion Authority KOTRA, Korea Trade Center , Karachi visited Federation House Karachi on Friday March 13, 2009. Mr. Sultan Ahmad Chawla, President, Federation of Pakistan Chambers  >>>>>

Greater Inter-Governmental and Public-Private Collaboration Urged
Karachi (PR) - The 5th World Islamic Economic Forum concluded with commitment to promote greater inter-governmental and public-Private collaboration to foster intra-OIC economic cooperation and trigger role of Islamic countries in the global economy.  >>>>>

PAKISTAN TO ENHANCE TRADE WITH VIETNAM
Mr. Nguyen Hong Tien, Commercial Counsellor, Head of Vietnam Trade Mission, Vietnam Trade Mission visited the Federation House Karachi. Mr. Sultan Ahmad Chawla, President FPCCI showed Pakistan's full interest in expanding trade and exports to Vietnam. Vietnam is a potential market for Pakistani exporters in the pharmaceuticals, leather, textile, spices, and dry fruits sectors. It was also decided that FPCCI will take a trade delegation to Vietnam in October 2009 to explore their very potential markets which will enhance volume of trade and eventually will increase exports to Vietnam. Mr. Zakaria Usman, Mr. Mansha Churra Vice Presidents FPCCI and Mr. M.A.Lodhi Secretary General FPCCI also attended the meeting.

CEO TDAP TO VISIT FPCCI
Syed Mohibullah Shah, Chief Executive Officer, Trade Development Authority of Pakistan has rescheduled his visit to Federation of Pakistan Chambers of Commerce and Industry (FPCCI) Mr. Shah will make a presentation on "New Strategy to boost exports from Pakistan."
The presentation will cover the reorganization of TDAP to make it more helpful to the businessmen in boosting the exports to achieve the target and thus generate foreign exchange.
The presentation is likely to be attended by Vice Presidents & Executive Committee Members of FPCCI, leading industrialists and businessmen from all over the country.

Importers express concern over the high value assessment of raw material, importers meet Mr. Zakria Usman Vice President FPCCI
In a meeting with Mr. Zakria Usman Vice President FPCCI, Importers expressed their deep concern over the high value assessment of raw material by the customs authority. They demanded that in view of the falling prices of raw material, due to recession world wide, the customs authority should release the raw-material on assessment of new prevailing prices which have drastically fallen down. >>>>>

Synergies to Ensure Food Security Urged at WIEF
"The Islamic countries in particular and other nations of the world in general need to focus on increasing agricultural production and to create synergies for ensuring food security and to address the perceived food crisis." This was stated by H.E. Musa Hathim, the former Deputy Prime Minister of Malaysia during an exclusive meeting with group of Pakistani businessman led by Mr. Tariq Sayeed and Mr. Iftikhar Ali Malik, former Presidents of Federation of Pakistan Chamber of  >>>>>