President FPCCI to inaugurate Pakistan pavilion at Indian expo

 ISLAMABAD (INP) - President FPCCI Zubair Ahmed Malik on Wednesday left for New Delhi to inaugurate Pakistan pavilion in India International Trade Fair 2013 (IITF).It is worth mentioning that IITF, one of the mega annual events of India which is attended by a large number of countries, has been scheduled to begin on 14th of November. FPCCI has been regularly organising Pakistan official participation in IITF for the last many years.As many as 80 companies are participating under the banner of FPCCI in the IITF to display textile, readymade garments, spices, ready to cook items, onyx and marble handicrafts, textile handicrafts, footwear, melamine crockery, etc.

Besides inauguration, Malik will have meetings with the officials of Federation of Indian Chambers of Commerce and Industry, Confederation of Indian Industry, Punjab Haryana Delhi Chamber of Commerce and Industry, Indian Council for Research on International Economic Relations, and Federation of Indian Small and Medium Enterprises.

Vice President of FPCCI Gulzar Feroz and Rukhsana Jhangir Khokhar, Nasiruddin Sheikh, Chairman Fairs and Exhibitions Committee, Aftab Barlas former Vice President FPCCI and others are accompanying President FPCCI Zubair Ahmed Malik.

ICCI demands CDA to revoke increase in penalties

ISLAMABAD (Online) - Former President, ICCI Munawar Mughal has called upon the CDA to immediately withdraw the manifold increase in penalties/offences without their approval from the parliament as these are totally unconstitutional. He said that CDA has issued a notification to its Magistrate in compliance of which he has made many times increase in the penalties for contravention of its different rules/regulations. He appealed to the Prime Minister of Pakistan Nawaz Sharif to take notice of such people unfriendly measures of CDA and direct the civic body to immediately take back such unilateral decisions as these have no validity without their enactment from the parliament. These measures are creating great harassment in the citizens of Islamabad.

LSM grows 8.37pc in 1st quarter, 12.76pc in September

ISLAMABAD (APP): The country’s Large Scale Manufacturing (LSM) has registered positive growth of 8.37 per cent during the first quarter of fiscal year 2013-14 over the corresponding period of the last year.On year-on-year basis, the LSM grew by 12.76 per cent during the month of September 2013 when compared to the same month of last year, according to the latest data of Pakistan Bureau of Statistics (PBS).The Quantum Index Numbers (QIN) of LSM stood at 113.00 points during July-September 2013-14) against 104.27 points during July-September 2012-13).

During the period under review, industries monitored by Oil Companies.

 Advisor Committee (OCAS) registered increase of 0.87 per cent growth while the indices of Ministry of Industries grew by 3.35 per cent and that of Provincial Bureaus of Statistics by 4.16 per cent.

The manufacturing items that witnessed growth during the three months of the current year over the same period of last year included textile (2.45pc), food beverages and tabacco (18.81pc), coke and petroleum products (12.67pc), paper and board (19.73pc), fertilizers (44.56%), pharmaceuticals (1.49pc), electronics (16.91pc), iron and steel products (9.45%), leather products (34.71pc) and chemicals (2.15%).

The manufacturing items that witnessed decrease in production included rubber products (0.36pc), wood products (6.09%), engineering products (3.79pc), automobiles (6.24pc) and non-metallic mineral products (0.05%).

Meanwhile, the industrial growth during September 2013 increased by 12.76 per cent when compared to output of September 2012 and increased by 3.79 per cent when compared to the growth of August 2013 respectively.

It may be recalled that the Provisional Quantum Index Numbers of Large

Scale Manufacturing Industries (QIM) has been computed in PBS on the basis of latest production data of 112 items received from sources, including OCAC, Ministry of Industries and Production and BOS.

OCAC supplied the data of 11 items, Ministry of Industries and Production supplied the data of 36 items and Provincial Bureaus of Statistics provided data for 65 items.

Rs 570 million deposited in national exchequer: MoIP

ISLAMABAD(APP): On the directions of Federal Minister for Industries and Production Ghulam Murtaza Jatoi, NFML has recovered Rs 570 million from fertilizer transporters and deposited the money in the national exchequer. Furthermore, case of a company which has an outstanding amount of Rs 450 million was given one month time to deposit the amount but the company was unable to deposit the money within the stipulated time and therefore, MoIP has referred the case to NAB for further action, says a statement issued by the Ministry here.  Ghulam Murtaza Jatoi, said that he would ensure corruption-free administrative system in the public sector organizations working under the MoIP.  He was of the view that public money is a sacred trust and he would not allow any to misuse it.

The minister emphasized that he would follow a zero-tolerance policy towards the defaulters and would leave no stone unturned to bring back each paisa of the state.

Strike at Karachi port may cancel $10m exports order: PYMA

FAISALABAD (APP): Textile export goods worth $10 million destined to Christmas season sales are likely to be cancelled due to goods transport strike. Abaidullah, Chairman Pakistan Yarn Merchants Association (PYMA) Punjab and KPK Zone said. He said that textile importers in Europe, US and other countries place orders for textile goods for Christmas for annual sales in December.Millions of dollars worth Textile Goods are being shipped but these goods have be stuck up at Karachi Port for last eight days due to goods carriers strike, he said, adding  that if the strike is not ended immediately the export orders would be cancelled, he stated.

He said that there would be huge financial loss not only to Exporters,

Export Trade and economy of the country and forex but also the reputation of the world suffer huge setback and the foreign buyers would direct their export orders to Bangladesh, India, and Sri Lanka.

He further stated that there was fear of the strike spreading to other parts of the country reuniting in total disruption and dislocation of business activities and discontinuation of supply line to markets within the country. Abaidullah Sheikh appealed to the government to intervene and negotiate to end goods transport strike.