479 units operational at SIE

LAHORE (Staff Reporter): The Punjab Industrial Estates Development and Management Company (PIEDMC) Acting Chairman Rizwan Khalid Butt has said the number of industrial units in Sundar Industrial Estate has reached 479, while another 392 are under construction at the site. Another 71 industrial units are near completion. “This is the highest-ever number of units in any industrial estate established in the country so far,” he added. Addressing the people, who had gathered for the auction of commercial plots in the Sundar Industrial Estate, he said a sign of improvement in the Estate could be gauged from the fact that 70 percent colonisation of plots was completed until 2015 against merely 4 percent in 2009. 

OPC committed to expats welfare

LAHORE (Staff Reporter): Overseas Pakistanis Commission (OPC) Punjab got retrieved land, owned by an overseas Pakistani, from the grabbers after eight years. The land measuring 55 kanal and 5 marlas is situated at Ghazi Minara area of District Sheikhupura. According to OPC Punjab Commissioner Afzaal Bhatti, Dr Iftikhar Chaudhry owns the land who currently resides in America. The land was occupied by three grabbers some eight years ago. The OPC commissioner informed that after receiving a complaint from Dr Ch, he referred it to the OPC Sheikhupura District Committee which took action and retrieved the land from the grabbers. Mr Bhatti said that that on the special instructions of CM, OPC Punjab is playing a proactive role to resolve issues being faced by the Overseas Pakistanis.

Workshop for promoting IXP

ISLAMABAD (Staff Reporter): In order to promote Internet Exchange Point (IXP) in the country, PTA held a workshop, where international experts shared their experiences with local IT professionals. IT and telecom industry experts, representatives of telecom companies, ISPs and HEC attended the workshop. PTA Chairman Dr Syed Ismail Shah said that after the introduction of latest technologies such as 3G /4G exponential growth has been seen in broadband users. He said the number of users has already crossed 30 million. Shah said PTA has always encouraged new ideas and supported initiatives for the betterment of telecom sector. Setting up of IXP is one such new initiative which will help in improving internet access, business environmental and local content.

International experts of IXP highlighted different aspects of IXP including technical perspectives, global landscape, best practices and regional perspective, legal aspects, dispute resolution and cost Issues. Internet Exchange Point (IXP) is a physical infrastructure through which Internet Service Providers (ISPs) and Contact Delivery Networks (CDNs) exchange internet traffic between their networks (autonomous systems). The primary purpose of an IXP is to allow networks to interconnect directly, via the exchange, rather than through one or more third-party networks.

RCCI’s ICT awards show on 28th

RAWALPINDI (Staff Reporter): The Rawalpindi Chamber of Commerce and Industry (RCCI) is organising second ICT Awards (Information Communication Technology Awards) on April 28, 2016 at Aiwan-i-Quaid, F-9 Park Islamabad. RCCI president Mian Humayun Parvez said that Rawalpindi Chamber is the only chamber of the country that arranges such awards. Mian Humayun said that ICT industry is having market share of approximately $3 billion in Pakistan but no step is being taken from the government side to promote the said industry. He said that twin cities have 40 percent share of the total business of ICT in the country as many multinational companies have established their offices there.

“RCCI ICT Awards aim at honoring Pakistani companies at the cutting edge of technology innovation as well as leading professionals across ICT industry of Pakistan”, he added.

While explaining the awards ceremony, Mian Humayun said that basic purpose behind organizing ICT Awards is to highlight the efforts of individuals and companies for the betterment of the industry and the country. He said that this award show is being organized with the support of Rawalpindi Chamber, Pakistan Software Export Board and Pakistan Software Houses Association and all the arrangements have been done in this regard.

ICI reports earnings of Rs2b

Lahore (Staff Reporter): ICI reported earnings of Rs 2.0billion (EPS: PKR21.97) for 9MFY16 compared to Rs 1.5billion (EPS: PKR16.02), representing a growth of 37 percent YoY. The growth in earnings during 9MFY16 can primarily be attributed to 230 bps expansion in margins and increase in dividend income from associate to Rs 508 million, compared to Rs 40mn in 9MFY15. On a sequential basis, earnings clocked in at PKR724mn (EPS: PKR7.8), down 13%QoQ. The decline in earnings was a factor of 20bps decline in gross margins due to fall in PSF primary margins and 30%QoQ decline in dividend income. On a consolidated basis, earnings clocked in at PKR1.89mn (EPS: PKR20.4) in 9MFY16 compared to PKR1.68bn (EPS: PKR18.2), up 12%YoY.

The growth in consolidated earnings was led by 145% growth in the profitability of associate company (NutriCo Pakistan) to PKR306mn.

At target price of PKR699/sh, we have a Overweight stance on the scrip offering a total return of 70%.

The growth in consolidated earnings was led by 145% growth in the profitability of associate company (NutriCo Pakistan) to PKR306mn.

At target price of PKR699/sh, we have a Overweight stance on the scrip offering a total return of 70%.