Home Blog Page 9407

SMEs bank starts programme to make SMEs bankable as per govt vision

By
Imran Munir
-
0
LAHORE, Aug 21 (APP):The Small and Medium Enterprises Development Authority (SMEDA), as per direction of Federal Minister Industries Rana Tanveer Hussain and Federal Minister Finance Senator Muhammad Aurangzeb, has launched a move to make the SMEs bankable for easy and increased access to finance.
As a first step in this regard, SMEDA inked a memorandum of understanding (MoU) with Askari Bank Limited at SMEDA Head Office on Wednesday. The MoU was signed by Socrat Aman Rana, Chief Executive Officer of SMEDA and Hussain Ali Haider, Country Head-SME Division Askari Bank Limited on behalf of their respective sides. The signing ceremony was also attended by Ashfaq Ahmad, GM Business and Sector Development Services, Ms. Farah Yasir, DGM-B&SD, Sheharyar Tahir, DGM-External Relations and Usman, Assistant Manager Financial Services from SMEDA. Whereas, from Askari Bank, the Country Head SME Division was accompanied by Syed Nauman Sajid, Regional Head SME Central and Awais Tahir, Senior Credit Head SME.
CEO SMEDA Socrat Aman Rana said that the Government of Pakistan, top from Prime Minister to all economy related ministers, especially the Minister of Industries Rana Tanveer Hussain and Minister Finance Senator Muhammad Aurangzeb were committed to make SMEs bankable for enhancing SME access to government financing schemes and specialized financial products. He said that despite higher significance of SMEs to job creation, innovation and economic diversification in Pakistan, private sector lending to SMEs had declined from 8.5% to 6% over the past five years, with the total outstanding portfolio stagnant at PKR 543 billion. He was confident that the plan to be evolved by SMEDA, in collaboration with banking industry would significantly increase private sector lending to SMEs.
Hussain Ali Haider, Country Head SME Division of Askari Bank said, we shall be able to turn the table for enhancing SME lending in collaboration with SMEDA.
According to the MoU with Askari Bank, SMEDA will utilize its Regional Offices and Help Desks for information dissemination and awareness creation of concessionary Government Financing Schemes and all Askari Bank SME Products, besides extending its capacity building initiatives for SMEs in business development, such as; accounting and bookkeeping, marketing, technical advice, etc. SMEDA will facilitate SMEs, approaching its Help Desks, in the application process for Government Financing Schemes and all Askari Bank SME Products. SMEDA will also share research studies and reports with Askari Bank of subject matters that are of interest to the bank.
The Askari Bank, as per the MoU, will notify SMEDA of its priority sectors and respective lending criteria and may also refer its clients to SMEDA for availing facilities provided by SMEDA apart from disseminating SMEDA’s capacity building services through its branch network to SME walk-ins.
According to the MoU, SMEDA and Askari Bank will jointly identify a mechanism for facilitating SMEs with access to Government Financing Schemes and other financial products and services, for SMEs, announced from time to time. Both the organizations will nominate contact persons to coordinate activities under this MoU. In addition, it has been mutually agreed that SMEDA and Askari Bank Limited will work jointly for promotion of business opportunities for the small and medium entrepreneurs, within the perimeter of their work mandate.
It is notable that SMEDA has planned also to take other banks into loop for entering into MoUs for making SMEs bankable and commercially viable for having credits. CEO SMEDA Mr. Socrat Aman Rana, moving on fast track in this regard is going to have next meeting with Bank of Punjab on Thursday.

Wanted criminal held during raid

By
Imran Munir
-
0
RAWALPINDI, Aug 21 (APP):Police have apprehended a notorious criminal wanted in murder case in the jurisdiction of Jatali police station here on Wednesday.
According to police spokesman, Police arrested Muhammad Shabbir who was wanted for the killing of Hafeez and for injuring Mudassar, Waheed, and Safir due to old enmity.
The victims’ father filed a complaint in this year. After committing crime, Shabbir went into hiding, but police used  human intelligence and investigative techniques to track him down and make his arrest possible.
Three of Shabir’s accomplices Qadir, Zaman, and Tanveer had already been arrested and charged earlier.
SP Saddar Nabil Khokhar praised the Jatali Police for their successful operation.
He emphasized that bringing such criminals to justice is crucial for providing justice to the affected families.

United efforts, youth empowerment keys to country’s progress: PM

By
Ishtiaq Rao
-
0

ISLAMABAD, Aug 21 (APP): Prime Minister Shehbaz Sharif on Wednesday said that youth empowerment and the united efforts by the politicians and the national institutions were inevitable to put the country on the course to progress.

“If we resolve to change Pakistan, it will not be too far when the country will emerge as a great nation. Today’s Pakistan and its prevailing circumstances necessitate politicians and national institutions to serve the country unitedly while observing their constitutional limits. If we do so, history will remember us forever otherwise the future generations will never forgive us,” he said addressing the National Youth Convention held here.

The Convention was attended by federal ministers, Chief of the Army Staff General Syed Asim Munir, Chairman of the Higher Education Commission, teachers, vice-chancellors and students from across the country.

He said it was the government’s responsibility to equip the youth with modern education, technology and skills to enable them to change the country’s fate and bring about a “revolution” of progress and prosperity.

He said the country’s youth had immense potential as for the last three years, Pakistani students were among the top achievers of the foreign scholarships.

Calling the 1973 Constitution a binding force for the nation, he said Pakistani nation also showed unity when the country carried out the nuclear tests in 1998 to make its defence impregnable, setting aside the serious challenges.

He told the gathering that Pakistan had sacrificed thousands of lives in its fight against terrorism besides suffering an economic loss of $150 billion. Not just Pakistan, the whole world has benefited from the elimination of terrorism by Pakistan, he added.

He said that besides the common citizens, the security forces played their fullest role in purging the country of terrorism, which the nation would always remember.

Coming to the economic challenges, the prime minister said the government was compelled to privatize the PIA which once used to be a model for other airlines in the region. Similarly, South Korea copied Pakistan’s five-year development plan and boosted its economy while Pakistan still lagged behind.

“We have to decide whether the business will go as usual or we will move forward,” he remarked.

He assured that despite the challenges of electricity, revenue receipts and exports, the government would dole out maximum funds for youth empowerment and recalled the PML-government’s pro-youth steps in the past including the merit-based distribution of laptops, establishment of Punjab Education Endowment Fund to distribute scholarships worth Rs22 billion, and numerous schemes for skill development.

Urging the youth to go into the SME sector, he said the State Bank of Pakistan has been asked to instruct the commercial banks to allocate 40% of their loans for the SME sector.

Coming to Bangladesh he referred to the demolition of Sheikh Mujeebur Rehman’s statue during the recent political unrest and said the one who spearheaded an anti-Pakistan movement met his fate.

Prime Minister Shehbaz referred to the federal government’s Rs50 billion relief package for electricity consumers using up to 200 units for a three-month period. He said the Punjab government has also announced a Rs 45 billion package to give Rs 14 per unit subsidy to the consumers using 200-500 units which should also be copied by other provinces, instead of politicking on the matter.

PSX turns bullish, gains 515 points

By
NNPS Desk
-
0

ISLAMABAD, Aug 21 (APP): The 100-Index of the Pakistan Stock Exchange (PSX) on Wednesday turned around to bullish trend, gaining 515.34, showing a positive change of 0.66 percent, closing at 78,260.86 points against 77,745.52 points on the last working day.

A total of 552,564,507 shares were traded during the day as compared to 380,717,441 shares the previous day, whereas the price of shares stood at Rs 14.590 billion against Rs 11.237 billion on the last trading day.

As many as 453 companies transacted their shares in the stock market, 289 of them recorded gains and 119 sustained losses, whereas the share price of 45 companies remained unchanged.

The three top trading companies were Kohinoor Spinning with 62,921,008 shares at Rs 11.23 per share, Power Cement with 41,961,669 shares at Rs.5.79 per share and Yousuf Weaving with 37,366,130 shares at Rs 6.82 per share.

Unilever Pakistan Foods Limited witnessed a maximum increase of Rs.219.46 per share price, closing at Rs 17,819.46, whereas the runner-up was Al-Abbas Sugar Mills Limited with a Rs 32.55 rise in its per share price to Rs 568.10.

Hoechst Pakistan Limited witnessed a maximum decrease of Rs.125.90 per share closing at Rs.1,626.11 followed by Atlas Ismail Industries Limited with Rs 61.50 decline to close at Rs.1,537.50.

West Indies duo big winners in ICC Men’s Test Player Rankings

By
NNPS Desk
-
0

ISLAMABAD, Aug 21 (APP): West Indies pair Jayden Seales and Jason Holder have been the big winners on the updated ICC Men’s Test Player Rankings.
Seales and Holder both performed well during the West Indies’ recent Test series against South Africa, despite the fact the Caribbean side fell to a 1-0 series defeat.
Fast bowler Jayden Seales of the West Indies moved up to a career-best 13th position in the ICC Men’s Test Bowling Rankings after finishing as the most successful bowler in the second Test against South Africa in Guyana.
Seales, who finished with nine wickets in a 40-run loss that helped South Africa win the ICC World Test Championship series 1-0, has moved up 13 places to become the top-ranked Test bowler from the West Indies.
Spinners Jomel Warrican (52nd) and Gudakesh Motie (64th) have advanced two spots each while fast bowler Shamar Joseph has progressed 11 spots to 54th in other significant movements for the West Indies players in the bowling rankings.
Player of the Match Wiaan Mulder has advanced 27 places to 65th position after finishing with six wickets for South Africa while off-spinner Dane Piedt is up nine places to 66th after claiming two West Indies wickets in the second innings of the match.
In the Test batting rankings, South Arica opener Aiden Markram and wicketkeeper Kyle Verreynne have gained after notching half-centuries in the second innings. Markram inched up two places to 21st while Verreynne has progressed from 62nd to 46th.
Former West Indies captain Jason Holder is up seven places to 60th position in the batting rankings following his knock of 54 not out in the first innings. He is also up two places to fifth in the list of all-rounders.
In the ICC Men’s ODI Batting Rankings, Scott Edwards of the Netherlands has moved up six places to 26th position after scores of 72 versus Canada and 65 versus the USA in the ICC Men’s Cricket World Cup League 2.
Aaron Jones of the USA (up 11 places to 56th) and Vikramjit Singh of the Netherlands (up nine places to 79th) are others to move up the batting rankings while Aryan Dutt of the Netherlands is up five places to 33rd.
In the ICC World Test Championship, South Africa are in fifth position with 38.89 percentage points after six matches while the West Indies are last in the nine-team championship with 18.52 after nine.
India lead the table with 68.52 percentage points after nine matches and Australia in second place with 62.50 after 12 outings. New Zealand and Sri Lanka are the other teams ahead of South Africa.

Rupee sheds 18 paisa against dollar

By
NNPS Desk
-
0

ISLAMABAD, Aug 21 (APP): Pakistani rupee on Wednesday witnessed a devaluation of 18 paisa against the US dollar in the interbank trading and closed at Rs 278.52 against the previous day’s closing of Rs 278.34.

However, according to the Forex Association of Pakistan (FAP), the buying and selling rates of the dollar in the open market stood at Rs 279.60 and Rs 280.30 respectively.

The price of Euro increased by Rs1.21 to close at Rs 309.59 against the last day’s closing of Rs 308.38, according to the State Bank of Pakistan (SBP).

The Japanese yen went up by 01 paisa and closed at Rs1.90, whereas an increase of 76 paisa was witnessed in the exchange rate of the British Pound, which traded at Rs 362.59 as compared to the last day’s closing of Rs 361.83.

The exchange rate of the Emirates Dirham and the Saudi Riyal decreased by 05 paisa and 04 paisa to close at Rs 75.83 and Rs74.22 respectively.

Over Rs8 lakh fine imposed on profiteers

By
Imran Munir
-
0
FAISALABAD, Aug 21 (APP):The price control magistrates arrested 37 retailers, sealed six shops and booked two others over violation of price control act during the last 24 hours.
Focal Person to Price Control Measures Riaz Hussain Anjum said here Wednesday that the price control magistrates imposed Rs 814,500 fine on 74 profiteers.
They held 1,695 inspections in various markets and checked prices of fruits, vegetables, roti, chicken and other edible items and took action against 137 shopkeepers.
P:agf/X:ftp/L:rsd/R:rsd

NA body on Petroleum calls of urgent need for efficient natural gas distribution

By
Kamran Muraad
-
0
ISLAMABAD, Aug 21 (APP): The National Assembly Standing Committee on Energy (Petroleum Division) on Wednesday called for the urgent need for efficient natural gas distribution and the reduction of line losses through stringent monitoring.
The meeting, chaired by Member of the National Assembly Syed Mustafa Mehmood, was attended by the Federal Minister for Energy (Petroleum Division).
Officials from the Ministry provided a comprehensive briefing on the activities and responsibilities of its various departments, highlighting the importance of providing an uninterrupted and environmentally sustainable energy supply. They also outlined the challenges in gas transmission and distribution across the country.
The Ministry informed the committee that domestic gas supplies have been steadily declining, with no major discoveries made by exploration and production companies in recent years, leading to a sharp reduction in indigenous gas availability.
The committee decided to hold its next meeting to discuss the Corporate Social Responsibility (CSR) initiatives undertaken by both public and private oil and gas companies.
The meeting was attended by members Syed Naveed Qamar, Muhammad Nawaz Khan, Mujahid Ali, Anwar-ul-Haq Chaudhary, Dr Shezra Mansab Ali Khan Kharal, Gul Asghar Khan, Salahuddin Junejo, Muhammad Moin Aamer Pirzada, Asad Alam Niazi, Mian Khan Bugti, and senior officials from the Ministry of Energy (Petroleum Division) and its associated departments and organizations.

CM open model house of ‘Apni Chhat, Apna Ghar’ programme

By
Imran Munir
-
0
LAHORE, Aug 21 (APP):Punjab Chief Minister Maryam Nawaz Sharif inaugurated a model house of ‘Apni Chhat, Apna Ghar’ [Own Roof, Own House] programme and launched an online portal (acag.punjab.gov.pk), where citizens could apply for the programme.
Helpline number for the program is 0800-09100, where citizens could call to seek information. The CM visited the model house on Wednesday, and thoroughly inspected its every part. She also inspected various stalls related to construction. She observed 3D printer at Infrastructure Development Authority, Punjab (IDAP) stall. She was briefed about Smart Rock to test the strength of concrete. She was apprised about eco-friendly brick type “Core Eco Block.”
Addressing the ceremony, held at Ashiana-e-Quaid, she appreciated the efforts of Secretary Housing Asadullah Khan and Director General PHATA (Punjab Housing and Town Planning Agency).
The CM was briefed by Secretary Housing Asadullah Khan about the details of Low Cost Housing project. He also screened a documentary on low cost pausing program for common man in Punjab.
Senior Provincial Minister Marriyum Aurangzeb, Provincial Ministers Sohaib Ahmad Malik, Zeeshan Rafique, Members of Punjab Assembly and Special Assistant Zeeshan Malik attended the ceremony. Chief Secretary, Secretary Housing, DG PHATA, and other relevant officers were also present.

 Crackdown on illegal petrol agencies in ICT; 2 arrested, 9 sealed

By
Kamran Muraad
-
0
ISLAMABAD, Aug 21 (APP): The Islamabad Capital Territory (ICT) administration has launched a crackdown on illegal petrol agencies operating in residential areas in the Federal Capital and sealed nine agencies besides arresting two accused.
Deputy Commissioner (DC) Islamabad Irfan Nawaz Memon urged the residents to report such agencies and avoid buying petrol from them, said the spokesman of ICT administration.
In a recent crackdown, the Islamabad administration, led by Assistant Commissioner (AC) Saddar zone Maheen Hassan, took action against illegal petrol agencies operating in sectors G-13 and G-14 areas. Nine illegal agencies were sealed, and two individuals were arrested for running unauthorized petrol distribution operations.
The Deputy Commissioner (DC) of Islamabad has emphasized the need to take firm action against these illegal agencies to ensure public safety.
The DC also urged citizens to report any such agencies operating in their residential areas and to refrain from purchasing petrol from unregistered sources.
The ICT administration are keen on curbing the illegal sale of petrol, which poses risks to public safety, the spokesman added.
The DC’s appeal to the public was part of a broader effort to eliminate unauthorized petrol agencies from the capital, ensuring that only licensed distributors are allowed to operate.
The crackdown was expected to continue as the administration works to identify and shut down more illegal operations in the city.
1...9,4069,4079,408...32,230Page 9,407 of 32,230