Jun 302016
 
Islamabad Chamber of Commerce and Industry calls for urgent carpeting of Islamabad Dry Port road to facilitate growth of business activities

Islamabad, July 01, 2016 (PPI-OT): The Islamabad Chamber of Commerce and Industry (ICCI) has shown concerns over the sub-standard repair of Islamabad Dry Port main double road which was creating lot of dust pollution in I-9 and I-10 Industrial Areas and has called upon the CDA to arrange its early carpeting to facilitate the smooth growth of business activities and avoid environment pollution. Atif Ikram Sheikh, President, Islamabad Chamber of Commerce and Industry said that Islamabad Dry Port was playing an important role in promoting exports and imports activities in this region and it was the need of the hour that its road infrastructure should be developed at par with international standards. He said CDA has been repairing the main double road of Islamabad Dry Port for the last two and a half months, however, its proper carpeting has not been done as yet due to which it was spreading lot of dust pollution in I-9 and I-10 areas creating health hazards for the industrialists, road users and the citizens residing in its surroundings. He said the main double road providing access to Islamabad Dry Port was quite a busy road as almost daily heavy duty vehicles and big containers were plying on this road to pick and drop commercial consignments at Islamabad Dry Port. However, on account of its sub-standard repair work, every vehicle plying on this road was sending off clouds of dust in the air due to which pedestrians, motorcyclists and people living around this road were [Read More…]

Jun 302016
 
Mobilink and Warid announce completion of transaction

Islamabad, July 01, 2016 (PPI-OT): VimpelCom, Global Telecom Holding (GTH), together with Warid Telecom Pakistan and Bank Alfalah (Dhabi Group shareholders), today announced the completion of the transaction to merge Pakistan Mobile Communications Limited (Mobilink) and Warid Telecom (Warid), creating Pakistan’s next generation digital telecommunications provider. Over 50 million customers in Pakistan will benefit from high-speed mobile telecommunications and a best-in-class digital mobile network. The combined Mobilink and Warid entity will be the leading telecommunications provider of 2G, 3G and LTE services in Pakistan, providing higher quality national voice and data coverage, faster downloads, and a wider portfolio of products and services. Jean-Yves Charlier, Chief Executive Officer of VimpelCom, said: “VimpelCom continues to make significant progress against its transformation program. This market consolidation represents a further step in our strategy to strengthen our position in the markets in which we operate. As the VimpelCom Group focuses on an ambitious digital transformation, we are investing in revolutionizing our technology core and product portfolio. We look forward to bringing innovative new products and services to our customers in Pakistan.” Chairman of Dhabi Group, His Highness Sheikh Nahayan Mabarak Al Nahayan, said: “I am very happy that we have arrived at this milestone today which marks a unique moment for the Pakistan telecom sector. It is very positive news for Pakistan’s economy. The Dhabi Group remains committed to Pakistan and its economic progress and I would like to thank all the relevant authorities for their support in closing this transaction. I am confident [Read More…]

Jun 302016
 
JCR VIS revises entity ratings of SME Leasing Limited

Karachi, July 01, 2016 (PPI-OT): JCR-VIS Credit Rating Company Limited has revised the entity ratings of SME Leasing Limited (SLL) from ‘BB-/B’ (Double B Minus/Single B) to ‘B/B’ (Single B /Single B). Outlook on the assigned ratings is ‘Negative’. The previous rating action was announced on July 9, 2015. SME Leasing Limited (SLL) is sponsored by SME Bank Limited (SMEBL), which in turn is primarily owned by the Government of Pakistan. Assigned ratings incorporate weakening in risk profile of SMEBL due to continuous erosion of equity base which has led to substantial downgrade of the parent’s credit rating in 2016. Net equity of SLL has continued its downward trend on account of year-on-year losses being reported by the company with some respite in 1Q16. However, losses have been controlled in the ongoing year. As per the revised NBFC Regulations 2008, minimum equity requirement for non-deposit taking leasing companies has been set at Rs. 50.0m. SLL is in compliance with regulatory capital requirement for non-deposit taking leasing companies. Nevertheless, capitalization indicators remain weak and limit the institution’s risk absorption capacity. In order to fund its operations, SLL solely utilizes running finance (RF) facility provided by SMEBL which is the limiting factor towards growth of the company. Liquidity profile of SLL has come under significant stress over time on account of lack of access to market sources of funding. Lending activity demonstrated decline in CY15 with management focusing on consolidation of existing portfolio. Improvement in recoveries has led to profit after tax [Read More…]

Jun 302016
 
Rivers flows and reservoirs level report

Lahore, July 01, 2016 (PPI-OT): The position of the river inflows and outflows at Tarbela, Mangla and Chashma along with the reservoirs levels and the barrages today is as under: Rivers: Indus at Tarbela-Inflows 243000 cusecs and Outflows 199700 cusecs, Kabul at Nowshera: Inflows 65200 cusecs and Outflows 65200 cusecs, Jhelum at Mangla- Inflows 51900 cusecs and Outflows 15000 cusecs, Chenab at Marala- Inflows 67800 cusecs and Outflows 32900 cusecs. Barrages: Jinnah-Inflows 250200 cusecs and Outflows 242200 cusecs, Chashma -Inflows 278100 cusecs and Outflows 247100 cusecs, Taunsa- Inflows 215000 cusecs and Outflows 187200 cusecs, Panjnad- Inflows 36100 cusecs and Outflows 20200 cusecs, Guddu- Inflows 183700 cusecs and Outflows 152500 cusecs, Sukkur- Inflows 123900 cusecs and Outflows 69200 cusecs, Kotri- Inflows 57000 cusecs and Outflows 20100 cusecs. Reservoirs: Level and Storage: Tarbela- Minimum operating level 1380 feet, present level 1508.04 feet, maximum conservation level 1550 feet, live storage today 4.082 million acre feet (MAF). Mangla- Minimum operating level 1040 feet, present level 1215.05 feet, maximum conservation level 1242 feet, live storage today 5.386 MAF. Chashma- Minimum operating level 637 feet, present level 648.50 feet, maximum conservation level 649 feet, live storage today 0.264 MAF. The inflows and outflows of River Indus at Tarbela and Chashma, River Kabul at Nowshera and River Jhelum at Mangla have been reflected as mean flows of 24 hours, whereas the other flows have been gauged at 6.00 a.m. For more information, contact: Muhammad Abid Rana Director Public Relations Water and Power Development Authority (WAPDA) G-32, WAPDA [Read More…]

Jun 302016
 
History made: Water and Power Development Authority Hydel Power Stations produced ever-highest annual energy

Lahore, July 01, 2016 (PPI-OT): The Pakistan Water and Power Development Authority (WAPDA) hydel power stations delivered as many as 33.154 billion units of low-cost hydel electricity to the National Grid in the fiscal year 2015-16. This is the highest-ever generation from hydel source in Pakistan. Previous maximum hydel generation was 31.5 billion units which was recorded during 2014 -15. According to the statistics, hydel electricity delivered to the National Grid by WAPDA during FY 2016 registered an increase of 1600 million units if compared with electricity generated in FY 2015, thus, registering 5 % per cent increase. This additional contribution of hydel electricity to the National Grid not only helped minimize loadshedding in the country but also lower power tariff. In addition to the increased water releases from Tarbela and Mangla reservoirs on the indent of IRSA, effective operation and consistent maintenance of the hydel power stations are the main contributing factors behind this record hydel generation. It is worth mentioning that hydropower is the cheapest, cleanest and environment-friendly source of electricity, which plays a pivotal role to stabilise electricity tariff in the country. According to the data of Central Power Purchasing Agency (CPPA) regarding per unit cost of electricity generated from various sources in March 2016, it is Rs.1.94 for hydel, which is far less than per unit cost of electricity generated from all other sources. In comparison to hydel electricity, it is Rs. 8.71 per unit for gas, Rs.11.41 for residual furnace oil (RFO), Rs.18.60 for high [Read More…]

Jun 302016
 
Wales, Belgium vie for Euro golden ticket

LILLE, France: History awaits the victors as Wales talisman Gareth Bale and rejuvenated Belgium star Eden Hazard lead their respective golden generations into battle in Euro 2016 quarter-final here on Friday (today). Belgium, second in the FIFA ranking, are desperate to make good on their squad’s vast potential and reach a first major semi-final since the 1986 World Cup. Wales are riding high in their first major tournament in 58 years and having outlasted British rivals England and Northern Ireland, their confidence is at an all-time high. After hitting the heights in a 3-0 win over Russia in their final Group B game, Chris Coleman’s Wales had to dig deep to see off Northern Ireland in the last 16. An attritional match was settled in the 75th minute when Bale’s cross was turned in by Gareth McAuley for an own goal, but Friday’s game could be a more open encounter. Beaten 2-0 by Italy in their first match, Marc Wilmots’s Belgium have since grown in stature, beating the Republic of Ireland and Sweden before crushing Hungary 4-0. The victory over Hungary was built around a man-of-the-match display from Hazard, who scored one goal and made another in one of his finest international performances. After a bleak season with Chelsea, the 25-year-old embodies Belgium’s hopes of improving on their quarter-final showing at the 2014 World Cup in Brazil. Hazard sustained a minor thigh problem against Hungary that kept him out of training for two days, and is expected to start against [Read More…]

Jun 302016
 
Majority of athletes are clean, says Bolt

NEW DELHI: Sprint king Usain Bolt has praised efforts by athletics chiefs to clamp down on doping in the build-up to August’s Olympic Games, saying that “most athletes are clean”. In an interview in Thursday’s Times of India, the Jamaican was confident of adding to his bulging medal collection in Rio and shrugged off the vow by one of his main rivals, the American Justin Gatlin, to win gold. Gatlin is being allowed to compete in Rio despite having served two doping bans while Bolt could also find himself up against former world champion Tyson Gay who was suspended for doping in 2013. The decision to bar Russian athletes from the Rio games for their country’s state-sponsored doping has underlined the scale of the problem facing the sport but Bolt said he believed the battle against the cheats was being won. “I believe the majority of athletes are clean and athletics is doing a good job at catching the ones who aren’t,” Bolt told the newspaper. “The sport has to continue to fight the cheats.” Bolt has himself been caught up in a doping controversy recently after teammate Nesta Carter reportedly tested positive for a banned stimulant during their gold-winning relay run at the 2008 games in Beijing. The 29-year-old Bolt is eyeing history at Rio where he will attempt to become the first man ever to win gold in the 100, 200 and 4x100m events in three straight Olympics. “I have my goals and will try to achieve those [Read More…]

Jun 302016
 
Ibrahimovic confirms Man United move

PARIS: Zlatan Ibrahimovic said on Thursday that he is joining Manchester United, ending intense speculation about where the 34-year-old Swedish superstar forward will be playing next season. Ibrahimovic, who was a free agent after ending a hugely successful stay at Paris Saint-Germain, becomes the second signing of new United boss Jose Mourinho after that of highly-rated Ivory Coast centre-back Eric Bailly from the Spanish outfit Villarreal “Time to let the world know. My next destination is Manchester United,” he wrote on Instagram and Facebook, complete with a picture of the United badge, as comments approving of the move flooded in in response. Ibrahimovic reunites with Mourinho, after they enjoyed a good relationship while together at Italians Inter Milan. The Swede had toyed with questioners for weeks about where he would be going and it will be his first time playing in the Premier League. Ibrahimovic, who quit international football after Sweden crashed out of Euro 2016, has also played at Ajax, Juventus, Barcelona and AC Milan during a career in which he has become as well known for his colourful personality as his prowess in front of goal. He had also been linked with a return to AC Milan and his agent had suggested that Major League Soccer in the United States was another potential destination. Ibrahimovic said weeks ago that he knew where he would be playing football next season, but kept the football world guessing — typical of his mercurial personality. “Yes, I have made my choice,” Ibrahimovic [Read More…]

Jun 302016
 
No Pak team to feature in AFC Cup playoff qualifiers

KARACHI: As no Pakistan Premier Football League was held last season because of the conflict between two groups of Pakistan Football Federation (PFF), no club from the country will be part of the 2017 Asian Football Confederation (AFC) Cup playoff qualifiers which begins in August. In the 2016 AFC Cup playoff qualifiers then Pakistan’s champions K-Electric had participated. They failed to reach the continent’s second-tier club competitions following their loss to Bahrain’s strong club Al-Hidd in the playoff on February 9 in Manama this year. The AFC has unveiled draws for the playoff qualifiers. The nine teams have been drawn in three groups. In Group A Guam’s Rovers FC, Kyrgyzstan’s Dordoi and Casa Benfica of Macau have been adjusted. Their matches will begin on August 19 in Kyrgyzstan. The Group B has Mogolia’s Erchim FC, Nagaworld FC of Cambodia and Nepal’s Three Star Club. Their contests will begin in Mongolia from August 21. Bhutan’s Tertons FC, Sheikh Russel Krira Chakra Limited of Bangladesh and Tatung FC of Chinese Taipei form Group C whose competitions will begin from August 21 in Bhutan. After a single league engagement the group winners will advance to the playoff stage. Pakistan have not featured in any international event since April 2015 owing to the football dispute. The country not only missed the SAFF Cup and South Asian Games in India but the junior teams also failed to feature in the Asian Football Confederation (AFC) age-group competitions. “It’s pathetic that we missed such important events,” a [Read More…]