Businesses are doing well: Rajwana

LAHORE (Staff Reporter): Punjab Governor Malik Rafiq Rajwana has said that the government is working in the energy sector on short and medium term basis. The govt is also making hectic efforts to extend good trade and business relations with the countries in the region, he added. These views were expressed by him while talking to media persons after addressing the CEO Summit held at a local hotel. Governor Punjab said that Pakistan has a huge potential that will drive this nation on the success pathways and kindle new candles of hope and prosperity. Our believe in Pakistan and its people can open new horizons and infuse new zeal and zest to achieve what we still lacking. Governor said that businesses are doing well even in these turbulent times of terrorism and energy problems.

LCCI for further cut in discount rate

LAHORE (Staff Reporter): The LCCI has said that another cut of at least 200 basis points in discount rates would not only help govt to achieve the target of industrial growth but would also bring stagnant capital of the banks into circulation. In a statement issued here Thursday, President of the LCCI Ijaz A. Mumtaz said that business community appreciates the government for bringing the discount at historical low as a number of countries are providing cheap loans to their industrial sector on zero or less than one percent discount rates. Ijaz A Mumtaz said that a notable cut of at least 200 basis points in the discount rate by the State Bank of Pakistan would inject fresh blood to the industrial sector which is facing a number of internal and external challenges including energy crisis.

CM to open Tevta Skills Expo

LAHORE (Staff Reporter): Punjab Chief Minister Muhammad Shahbaz Sharif will inaugurate the 2 days TEVTA Skills Expo on 13th June, 2015. This two days expo is being held at Expo Center Johar Town. The purpose of this expo is to generate a spirit of competition in the field of technical skills. This was stated by Chairperson TEVTA Irfan Qaiser Shaikh while addressing a meeting regarding arrangements of TEVTA Skills Expo here at TEVTA Secretariat. Chief Operating Officer Jawad Ahmed Qureshi, General Managers Abdul Qayum, Hamid Ghani Anjum, Engr. Azhar Iqbal Shad, Akhtar Abbas Bharwana and other officers were also present on this occasion. Irfan Qaiser Sahikh said that TEVTA is also providing an opportunity to its trained work force to get jobs.

Human Resource heads of national and multinational companies will conduct on spot interviews and get resume from TEVTA skilled labour force. This expo will be attended by large number of participants from across the province by the Youth. Chairperson TEVTA further said that TEVTA students will display their projects relating to technical, vocational, service centers. Students are preparing their projects while taking keen interest to display. These projects will show the expertise of our trainees being provided in TEVTA Institutes.

Superior students visit LSE

LAHORE (Staff Reporter): A general visit by the students of Superior University - Pattoki was organized by the corporate communications Department Lahore Stock Exchange where LSE’s officials interacted with the students. At the event, Corporate Communications Department-LSE gave a detailed presentation covering all spheres of capital and financial markets. The students were briefly informed about the regulatory framework, market indicators, investment products, financial services & opportunities accessible to investors in Pakistan. Ms Gitee Bhatti- Deputy Secretary –IPF quoted practical examples about various investment avenues obtainable in the market and their role in the economic structure of the country.

She also spoke on various operational matters of the Exchanges including listings, trading, corporate governance, sensitivity of Stock Market and investor protection. While addressing to the students, she requested the students to adopt saving behavior in their life style in order to become the Chief Financial Officer of their own life. Questions answer session was conducted by Barkat Ali Anjum Head of Media & Public Relation Department LSE.

SECP registers 426 companies

ISLAMABAD (Staff Reporter): The Securities and Exchange Commission of Pakistan (SECP) has registered 426 new companies during the month of May. Around 90 percent of companies have been registered as private limited companies. Around 5 percent were registered as single-member companies. Five percent were registered as public unlisted, non-profit associations, trade organisations and foreign companies. The services sector took the lead with the incorporation of 59 companies, followed by trading with 46, information technology with 44, tourism with 30, construction with 23, corporate agricultural farming with 18, food and beverages with 17, education and engineering with 16 each, power generation with 15, textile with 12, chemical, communications, paper and board with 10 each companies.

Moreover, 2 foreign companies were also registered by the CRO in Islamabad.

Foreign investment has been reported in 24 new companies. These companies have foreign investors from China, Denmark, Japan, Nigeria, Norway, Palestine, Turkey, UAE, UK and the US. These companies are from power generation, services, cables and electric goods, tourism, engineering, communications, trading, information technology, paper and board, food and beverages, construction and chemical sectors.

During May, the highest numbers of companies, i.e. 155, were registered at the Company Registration Office (CRO), Lahore, followed by 109 and 85 registered at the CROs in Islamabad and Karachi respectively. The CROs in Multan, Peshawar, Faisalabad, Quetta and Sukkur registered 30, 28, 12, 6 and 1 companies respectively.

In May, returns for an increase in the authorised capital of 288 companies were filed, with the total authorised capital increment of Rs 43.7 billion. In addition, 279 companies filed returns for increase in the paid-up capital with the total increment amounting to Rs5.7 billion.