MCB Bank, Telenor Microfinance

ink MoU

LAHORE (Staff Reporter): MCB Bank Limited, declared by Euromoney as “Pakistan’s Best Bank” for a record tenth time, has entered into an alliance with “Pakistan's Best Microfinance Bank”, Telenor Microfinance Bank Limited (Formerly Tameer Microfinance Bank), for its safe, secure, convenient and accessible Easypaisa agent network and mutually beneficial financial services. Under this agreement, MCB Bank, MCB Lite Branchless Banking customers will gain access to Telenor Microfinance Bank/Easypaisa’s diverse network of more than 75,000 agents nationwide. Now customers will be able to walk into any Easypaisa retail outlet and deposit funds into their MCB wallet and also withdraw cash from the retailer at their own convenience anywhere. This strategic alliance is in line with the State Bank of Pakistan’s National Financial Inclusion Strategy and Vision for 2020, to increase access and quality of financial services for the underserved segments of the economy.

The agreement was signed between MCB Bank CEO Imran Maqbool and Telenor Microfinance Bank CEO Ali Riaz Chaudhry at the MCB House, Lahore. Irfan Wahab- CEO Telenor Pakistan, Yahya Khan - CDO/CFI Telenor Microfinance Bank, Faisal Ejaz Khan - CIO MCB Bank and Ali Naqvi - Business Head Digital Banking MCB, were also present at the ceremony, along with other senior executives from both organisations.

‘Businessmen issues to be

resolved on merit’

LAHORE (Staff Reporter): Customs Collector (Appraisement) Jamil Nasir has said that issues of business community would be resolved on merit. While talking to LCCI Vice President Muhammad Nasir Hameed Khan here at LCCI on Thursday, he said clearance of trading goods is one of his priorities as undue delay adds to the cost of doing business. Azizur Rehman Chan, Chaudhry Khadam Hussain, Zeeshan Khalil and Nazim Hussain Shah were also present on the occasion. The collector said, “We have to trust each other that would make the things better. He said that if declaration system gets better, it would not only help control under invoicing but would also help trust building. He said that there are some policy matters on which only FBR can make decision. He said that lack of awareness is one of the biggest reasons of problem therefore the department is ready to depute officers to guide business community on tax related issues.

He said that WeBOC is a programme of international level and far better than the contrary software. “We are not only stakeholders but we are partners. Clearance process would be made easier by reconsideration of the business processes,” he added.

LCCI Vice President Muhammad Nasir Hameed Khan said that policies of Federal Board of Revenue (FBR) should be aimed at widening of tax net rather than taxing and burdening already taxed businessmen. He said that Customs department should establish scanners at ports as importers have to pay demurrage charges because of undue delay. He said that at present customs duty could be paid to only particular branches of National Bank. He said that customs department should allow to pay customs duty at all branches that would help save precious time of the business community.

The LCCI vice president said that though WeBoc is a very good system but it has limited options to make information correct in case of any effort therefore this system should be upgraded according to the needs of the business community. He said that it is vitally important to disseminate Electronic I-Form related information to importers, bankers, clearing agents, and customs personnel as to how will it work and answer their queries. He said that banks are also not issuing Form-I for Iran. This issue should be resolved at the earliest.

Al-Ghazi launches combine


LAHORE (Staff Reporter): Al-Ghazi Tractors has brought in first of its kind New Holland Brand Combine Harvester into Pakistan. One such unit has been imported for trial and wide spread demonstration in the Southern and Central Punjab. These demonstrations will commence already in the month of March 2017. The equipment, after demonstration, will initially be imported and introduced on commercial basis in Pakistan. Al-Ghazi Tractors Limited is very sure that this introduction will become a source of replacement of the old second hand combine harvester business bringing around 8-10pc savings on crop wastage. Al-Ghazi subsequently plans to commence assembly of these combines locally in collaboration with Case New Holland (CNHi) and hope this will become a game changer in mechanisation of farms in Pakistan bringing out best crop output.

Hollande inaugurates Martin

Dow in France

PARIS(Sahibzada Ateeq): France President Francois Hollande has inaugurated the pharmaceutical facility of the leading Pakistani pharmaceutical company Martin Dow in the town of Meymac, Corrèze, located in the South West of France. The inauguration ceremony was also attended by the Ambassador of Pakistan to France Moinul Haque, Phillippe Brugere, Mayor of Meymac, Pascal Coste, President of the County Council and Madam Nathalie Delcourserc Julliard Vice President of the Regionls Council, French government officials and notables of the area. President Hollande said that this investment is a symbol of Pakistan-France friendship which will further grow in years to come. He said that acquisition of former American Bristol-Myers Squibb’s pharmaceutical plant by a Pakistani pharmaceutical company was a positive step in consolidating investment ties between Pakistan and France as well as for creating new job opportunities in the region.

President Hollande visited various part of the factory and was given a detail briefing by Chairman Jawed Akhai.