Jul 312016
 
Financial results of Haseeb Waqas Sugar Mills Limited for period ended June 30, 2016

Karachi, Haseeb Waqas Sugar Mills Limited informed Pakistan Stock Exchange about the recommendations made by the board of directors in the meeting held at Lahore on July 30, 2016. The agenda of the meeting was discussion of profit and loss account for nine months period and quarter ended June 30, 2016 which portrayed a loss of Rs. 620,720,653 and Rs. 130,955,860 with loss per share 19.16 and 4.04 basic and diluted respectively. Further, nil payment of cash dividend, bonus shares and right shares was agreed. Haseeb Waqas Sugar Mills Limited was incorporated on January 13, 1992 as a Public Limited Company. The foundations of the company are laid under the Companies Ordinance, 1984. The principal activity of the Company is manufacture and sale of refined sugar and its by-products. The mill of the company is situated at Merajabad, Nankana Sahib, District Nankana Sahib. The shares of the company are quoted on Karachi and Lahore Stock Exchanges of Pakistan. The registered office of the company is situated at Lahore. The symbol “HWQS” is being used by the stock exchange for the shares of Haseeb Waqas Sugar Mills Limited.

Jul 312016
 
Appointment of Director of Noon Sugar Mills Limited

Karachi, Noon Sugar Mills Limited informed Pakistan Stock Exchange about appointment of Mr. Muhammad Sohail Khokhar as Director with effect from July 29, 2016 in place of Mr. Asif Hussain Bhukari. Noon Sugar Mills Limited was incorporated in 1964 as a public limited company in Pakistan. The registered office of the company is located in Lahore. The manufacturing plant of the company for manufacturing white sugar is located in the province of Punjab. The products of the company include white sugar, ethyl alcohol industrial grade and fuel grade products. The stocks of the company are quoted on the Karachi, Lahore and Islamabad Stock Exchanges of Pakistan. The plant became operational in the year 1966. The optimum capacity of the plant is 9,000 TCD as recorded in 2006-2007. An alcohol distillery was added during 1986 with a production capacity of 50,000 liters/day in 2002. A facility with an option to provide 30,000 LPD Industrial of fuel grade ethanol was added in 2002. A fuel ethanol plant of 100,000 LPD was added in 2005. The distillery is ISO 9001 certified since 1998 which later upgraded to ISO-9001-2000. An effluent treatment plant was installed in 1997 so that bio-degradable waste water can be used as a renewable source of energy to replace 70% of fuel oil/natural gas, for generation of process steam. The symbol “NONS” is being used by the stock exchanges for the shares of Noon Sugar Mills Limited.

Jul 312016
 
Skydiver Luke Aikins Lands History-Making Jump From 25,000 Feet –With No Parachute or Wing Suit– For “STRIDE GUM PRESENTS HEAVEN SENT”

Available to watch at http://strideheavensent.tumblr.com/ppv  through August 6th LOS ANGELES, July 31, 2016 /PRNewswire/ — This weekend, world-class skydiver Luke Aikins landed safely in the Southern California desert after jumping out of a plane from 25,000 feet with no parachute or wing suit for STRIDE GUM PRESENTS HEAVEN SENT*. The 42-year-old husband and father was greeted by family and friends who witnessed Aikins accomplish the impossible. The historic feat was broadcast LIVE on FOX. For those who missed the special, you can view online at http://strideheavensent.tumblr.com/ppv through August 6th. A third-generation skydiver, Aikins has over 18,000 jumps and has performed a variety of skydiving stunts. “I pushed myself further physically and mentally than ever before,” said Aikins. “But I had to prove that it could be done.” The Stride Gum brand from Mondelēz International, Inc. sponsored the historic live stunt experience. “Luke is committed to taking risks and pushing the limits,” said Laura Henderson, global head of content & media monetization at Mondelēz International. “He lives out mad intensity, and that’s exactly the kind of partner we want as we launch our new mad-intense Stride Gum campaign.” The event was co-created by Chris Talley of Precision Food Works and Amusement Park Entertainment‘s Jimmy Smith. “Heaven Sent was more than an incredible skydiving feat,” said Smith. “Luke showed everyone watching what you can accomplish when you chase your dreams and have faith.” *Do not attempt, re-create or re-enact. Professional skydiver with extensive training. ABOUT MONDELĒZ INTERNATIONAL Mondelēz International, Inc. (NASDAQ: MDLZ) [Read More…]

Jul 312016
 
Pricing principles

International accounting practice, as per accounting principles and standards, is to price and sell factory products according to FIFO (first in first out), LIFO (last in first out), or Average Pricing Method. Suppose the registered price of a drug is increased by a manufacturer from Rs100 in June 2016 to Rs110 in July. A retailer consistently following FIFO will sell June purchased drugs at the June price and the July purchased drugs at the July price. A LIFO follower will follow the last price – irrespective of whether there is a rise or fall in price. The APM follower will sell the drug at the average price per unit of Rs105 per unit. The practice in vogue at most drug stores is that they follow LIFO with one brutal modification. The drug (and other consumer products stores) input advance intimation of likely rise in prices into their computers. Thus buyers have to pay higher prices unnoticeably. The government should punish retailers who sell goods above registered prices. Amjed Jaaved Rawalpindi

Jul 312016
 
Pensioners in Punjab

This refers to the article, ‘The forgotten pensioners’ (July 29) by Iftikhar A Khan. The learned writer has given a detailed description of the problems faced by pensioners in general and the elderly pensioners of Punjab in particular. The Supreme Court of Pakistan upheld the decision of the Federal Service Tribunal, which granted the full restoration of pension to pensioners who had completed 15 years after retirement. That decision of the tribunal has since been implemented by the federal and provincial governments – except the Government of Punjab. The pensioners of Punjab are running from pillar to post but to no avail. They knocked at the doors of the Lahore High Court which ordered the Punjab government to implement the decision of the apex court but the Punjab government has failed to comply with this order. Mohammad Ayyub Khan Jadoon Abbottabad

Jul 312016
 
Lost children

The number of children who are abducted or possibly go missing for other reasons in the country is a shocking one. The issue had been taken up in the late 1990s after mass murderer Javed Iqbal in Lahore confessed to killing at least 100 children over a period of around three years. Iqbal committed suicide in prison in 2001, and with him died the whole truth behind his crime. But what the episode did prove is that thousands of children vanish from their homes each year. The Lahore High Court taking suo motu notice of this has asked authorities for a full report on the fate of these children and sought police answers on why they are not recovered in every case, or why parents’ complaints are not registered when they lodge a missing child report. Certainly, over the last decade and a half we have done nothing on this issue. In 2016, a record 1,464 children have been abducted or gone missing. The number continues to increase. The danger under which our children live is a matter that should not be ignored. There are findings which show a large of children on the streets become addicted to drugs, especially glue, or fall in with gangs engaged in unlawful activities. We could prevent this by ensuring our law-enforcement agencies take more urgent action when there is a report of a child gone missing or having been abducted. This must be the first step in any effort to tackle the problem. [Read More…]

Jul 312016
 
Kashmiri blood

This refers to the news report, ‘Indian home mister visits Pakistan next week’ (July 29). The tensions between India and Pakistan can be reduced in the coming Saarc summit, which is going to be hosted by Pakistan. It is a golden opportunity to bring the relations of the neighbors to a normal position. The Kashmir issue is a serious one. The entire history of Kashmir is written in the blood of the Kashmiris. India must give the Kashmiris the right to decide their fate. Sajjad Ahmed Kalhoro Kandiaro

Jul 312016
 
A ray of hope

Pakistan is facing a severe energy crisis with serious implications on the future prosperity of the country. In this backdrop, the news that the Neelum-Jhelum hydropower project, with a capacity of 969 MW, is nearing completion is a sign of hope and relief for energy-starved Pakistan. With the completion of this mega project by June 2017, the country will get 5.150 billion units of electricity per year. After completion, the project will help generate revenues of Rs55 billion. Besides, it will also help Pakistan save foreign exchange reserves by reducing our dependence on imported furnace oil to the tune of 2.5 million tons. Electricity constitutes one of the most important components of infrastructure and plays a vital role in national progress and economic development. Therefore, one hopes that our democratic leadership will remain sincere in its efforts to chalk out more appropriate plans to meet our energy needs for the decades to come. How well we address this problem now will have great implications on our future. That day is not far when darkness will eventually vanish from this country and our future generations will live in a brighter Pakistan. Shehar Bano Syed Lahore