10th Interiors Pakistan expo in Dec

ISLAMABAD(APP - Pakistan Furniture Council (PFC) Tuesday  announced to hold three-day mega 10th "Interiors Pakistan" Expo-2018 here in December to promote local furniture industry worldwide and enhancing its exports  besides providing an opportunity to showcase their products to attract local and foreign investors and buyers of quality furniture. The expo aimed at promoting and introducing Pakistani interiors, furniture and accessories in and outside Pakistan, said PFC Chief Executive Mian Kashif Ashfaq while presiding over a meeting of board of directors here," says a press release issued here Tuesday.  In past, PFC had successfully organized nine mega exhibitions at Lahore, Karachi and Islamabad and got tremendous response from the public and private sector alike, he added. PFC will extend invitation to furniture producers and retailers of China, Italy, United Kingdom, Turkey, Hong Kong, Bulgaria, Denmark, Thailand and, Bangkok while delegations from other countries will also be invited to participate in the upcoming exhibition, he added.

Members from diplomatic corps, leading businessmen, stakeholders of the furniture industry and foreign delegation would also attend the event, he maintained.

While more than 70 leading local companies and interior designers will display their products and as per previous trend nearly 250,000 to 300,000 people are likely to visit this mega exhibition.

The essence of this mega furniture exhibition is to promote the furniture and associated Pak made products at local and international level. Visitors on the lookout for buying furniture will be able to enjoy special discount of up to 20 per cent on different items at the exhibition which will also provide the younger designers and architects to study the market trends and display their own work alongside that of more established professionals.

Mian Kashif urged the government to establish exclusive expo centres for furniture industry one each in Faisalabad, Gujranwala, Sialkot, Peshawar and Quetta, especially for Lahore, Karachi and Islamabad. Only 25 percent industrialists and traders of the country visit Karachi fairs and after the establishment of new expo centres with greater facilities more people would come to theses cities to increase their trade with foreigners and local investors," he hoped.

PFC chief said this activity aims at uplifting socio-economic condition of the community and connect the entrepreneurs with direct buyers. He said with a little innovation, investment and government support, furniture industry can generate even more employment and income from sustainable economy.

He said textiles and rice were currently the largest exports of Pakistan bringing in $14 billion and $2 billion of foreign exchange, respectively. Furniture exports on the other hand stand at a meager $51 million.

2.5m cotton bales reach ginneries

MULTAN (APP): Pakistan Cotton Ginners Association (PCGA) Tuesday issued its first cotton arrivals report of the year 2018-19 indicating arrivals of over 2.5 million cotton bales at the ginning factories across the country, some 6.42 per cent above the corresponding period last year. Seed cotton (phutti) equivalent to 2.571 million or 2,517,345  bales have reached ginneries across Pakistan till Sept 15, 2018, says the PCGA's first fortnightly report of the ongoing season. Out of total arrivals, over two million or 2,039,037 bales have undergone the ginning process. Arrivals in Punjab were recorded at 980,139 bales and Sindh, over 1.5 million or 1,537,206 bales. Total sold out bales were recorded at over 1.9 million (1,939,501) bales including 1.8 million (1,898,441) bales bought by textile mills and another 41,060 bales purchased by exporters. Exactly 577,844 bales were still lying with the ginneries as unsold stock. Sanghar district of Sindh continued to remain on top with cotton arrival figures of 911,474 bales.

The report does not include cotton figures from districts of Kasur, Sargodha, Ghotki and Dadu.

Exactly 585 ginning factories were now operational in the country out of total 1300 including 351 in Punjab and 234 in Sindh. Some 574 ginning factories were operational during corresponding period of 2017 including 339 in Punjab and 235 in Sindh.

Trade teams to visit UK for investments

LONDON (APP): A delegation of Federation of Pakistan Chambers of Commerce and Industry (FPCCI) is scheduled to undertake a week-long visit of the United Kingdom (UK) to explore and promote bilateral trade between Pakistan and the UK, High Commission sources said. Commercial Section of the Pakistan High Commission London sources said that FPCCI delegation is visiting London from October 15, 2018. The delegation during its visit would interact with the business community of the UK and discuss ways and means for further enhancing bilateral trade and investment between Pakistan and United Kingdom and also lure them to take maximum benefit from the business friendly investment and trade opportunities being offered by the new government under the leadership of Prime Minister Imran Khan in various sectors of economy. The sources further said that another Pakistani business delegation of RCCI would also visit the United Kingdom in Dec 2018, to explore and promote trade and investment opportunities between the Pakistan and the United Kingdom.

During the visit of the RCCI delegation, an investment conference would also be held in Birmingham in which the participants would highlight the conducive trade and investment opportunities for businessmen from the United Kingdom specially the British Pakistani investors being offered by the new government in Pakistan.

The sources added that Pakistan High Commission London would facilitate the business delegation from Pakistan.

They said that the commercial section of the Pakistan High Commission London has also facilitated the Pakistani participants of London Design Biennial 2018.

KP graduates to get interest free loan

PESHAWAR (APP): A high level meeting co-chaired by senior Minister Tourism and Youth Affairs Atif Khan and Minister Finance Taimur Saleem Jhagra here Tuesday has decided to initiate start-up program aimed at providing interest free loan to youth of the province for establishing their own business. Secretary Finance Shakeel Qadir,Secretary Tourism Shahid Zaman and officials from Bank of Khyber attended the meeting. Under the initiative, interest free loan will be provided to those students who have graduated from university and come up with innovative business ideas. The loan package ranges from Rs.5 lakhs to Rs.3 million for establishment of new business and for strengthening of the existing business. Special persons, women and entrepreneur associated with tourism sector would also be awarded loan. In addition to this, micro- financing program has also been launched for the youth without education. Under micro finance program, Rs4 lakhs will be given to help them stand on their own feet.

On the occasion senior minister Atif khan said providing employment opportunities and extending support to youth was top priority of Pakistan Tehreek-e-Insaf. The minister said youth constitute major part of our population and steps were needed to make their future safe for progress of the country.

Minister Finance Taimur Saleem Jhagra said to ensure transparency, start-up program would be launched on the model of KP Youth Impact Challenge in which experts would recommend award of loan to youth.