The Financial Daily : 2020-08-21

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NATIONAL Friday, August 21, 2020 SBP urged not to privatize SME Bank and accelerate setting up of Eximp Bank KARACHI: The Union of Small and Medium Enterprise­s ( UNISAME) has urged the State Bank of Pakistan to expedite the establishm­ent of Eximp Bank and also not to privatise the SME Bank and to strengthen it instead for the benefit of the majority sector, says a Press release. UNISAME president Zulfikar Thaver said most of the countries of the world have their Eximp Bank and Pakistani exporters and importers both big and small are feeling the absence of a facilitati­ng intermedia­ry bank which could issue guarantees and enable secured t ransaction­s under credit guarantee. This would prove ideal for exports to third world countrie s and bring about remarkable increase in exports. Secondly Thaver urged the SBP not to privatise the SME Bank and to inject funds in it and make it an ideal SME Bank true to its name. The SME sector is the majority sector and the SME Bank is the only SME Bank and if it is merged with any other bank it will lose its identity. If it is privatised it will be governed by the private sector investors who may behave like other commercial banks whereas if it continues to remain as a public sector bank it will follow the agenda of specifical­ly catering to the sector. He said if SBP is not inclined to inject funds then it may allow the SME Bank to raise its own capital from the investors by floating shares. UNISAME experts said now that the economy is again getting on its feet due to good financial management of the pandemic by the SBP and facilities offered to big and small businessme­n, the SBP needs to take proactive steps to announce the opening of Eximp Bank and restructur­ing of SME Bank without loss of time. ISLAMABAD: Federal Minister for Science & Technology Chaudhry Fawad Hussain in a meeting Saudi Ambassador in Pakistan Nawaf bin Said Al Malki, here Thursday. - PID photo FPCCI appoints Tabish as Secretary General Power shut down in Sindh adding to miseries UAJK to open up doors for economic and social developmen­t: Masood KARACHI: Mian Anjum Nisar, President of t he Federation of Pakistan Chambers of Commerce and Industry ( FPCCI) has appointed Muhammad Iqbal Tabish as the Secretary General of the organizati­on with effect from the 19th August 2020 in accordance with rules and pr ocedures la id out in Trade Organizati­on Ordinance of Pakistan, says a Press release. President FPCCI, Vice Presidents, members of HR Committee and prominent business leaders, Zakaria Usman, Senator Haji Ghulam Ali, Sheikh Aslam, Khurram Sayeed former Vice President, Nasir Hayat Magoon, Haji Abdul Ghani Usman, Mian Shaukat Ahmed former SVP, Mirza Abdul Rehman, Mian Zahid Hussain, have termed the appointmen­t of Iqbal Tabish as a hopeful prospect for FPCCI in view of his wide experience of working with public and private organizati­ons at national and internatio­nal level. Prior to assuming office of the Secretary General FPCCI, Iqbal Tabish has served in Ministry of Industries and Production as Chief Executive Officer of Pakistan Industrial Developmen­t Corporatio­n ( PIDC) and Secretary General SAARC Chamber of Commerce and Industry. He has also worked as a Senior Economist and Head ( R& I) at WTO Cell of Trade Developmen­t Authority of Pakistan, Ministry of Commerce and has been associated Imran Zakir KARACHI: Si ndh Minister for Energy Imtiaz Ahmed Sheikh has said continued long hours load shedding of 12 to. 18 hours was being done in Karachi Larkana Nawabshah Hyderabad and various parts under the sizzling heat people are passing a miserable life. He said this while addressing a Press conference at his office on Tuesday He said that 8 to. 12 hours lo ad shedding in Karachi has become s normal routine by KElectric and NEPRA should take notice to resolve this issue on urgent MUZAFFARAB­AD: Describing University of Azad Jammu and Kashmir ( UAJK) as the mother of all public sector universi tie s, AJK President Sardar Masood Khan has directed the management of the university to make more efforts to turn the institutio­n into a centre of excellence for cutting edge new technologi­es. He expressed these views while addressing the administra­tion and faculty members of the university after a briefing on the occasion of a visit to the newly constructe­d King Abdullah Campus located at Chattar Kalass near Muzaffarab­ad on Thursday. "The King Abdullah Campus of the university will not only become a centre of knowledge and high- quality education but also open up new doors for economic and social developmen­t for t he people of Muzaffarab­ad and adj oining districts," he said. The AJK President said that Vice- Chancellor Prof Dr Kaleem Abbasi and the management of the university deserve tribute for the hard work they did in the completion of this state- of- the- art campus built in coll aboration with Saudi Fund for Developmen­t and t he Higher Education Commission of Pakistan. He said that the students graduated from this university are not only playing their excellent role in the developmen­t and prosperity of Azad Kashmir and Pakistan, but many of them are acquiring further education in the world reputed universiti­es like George Town University, Oxford and Cambridge. He said that he is very happy to know that the University of Azad Jammu and Kashmir and other universiti­es are launching programs like artificia l i ntelligenc­e, internet of things, big data and nanotechno­logy keeping in view the requiremen­ts of modern times, which would significan­tly help the youth get a worldclass education and to keep pace with the youth of other countries in the race for developmen­t. He said with modern and quality education, Azad Kashmir would not only move towards self- reliance but also acquire the potential to become the engine of economic growth of the whole of Pakistan. President Khan urged the management of the university to plan for a digital revolution keeping in view the needs of the future and to make Muzaffarab­ad's Jhelum Vall ey a Silicon Valley to provide an opportunit­y to the students to use their knowledge and skills for the developmen­t and prosperity of the country and the nation. He said that the Vice- Chancellor of th e University, Dr Kaleem Abbasi, has the full support of the Government and the Presidency and he is rightly expected to use his leadership skills to make the university a hub of knowledge and to transform the youth into valuable human capital. See # 22 Page 7 Keamari approved as new Karachi district See # 25 Page 7 No evidence of firing at Maryam's car: IGP KARACHI: In an important developmen­t, the Sindh government on Thursday approved to create new districts in Sindh province within Karachi. The Sindh cabinet meeting held in the port city under the chair of Chief Minister Sindh, Syed Murad Ali Shah, has approved t o make Keamari Town as a new district of the city. The cabi net recommende­d to include areas of SITE, Baldia and Harbour into district Keamari and also proposed to make Maripur as another new district. There are currently seven sub- divisions in District West, Karachi, and it is the second- largest district in Sindh according to population, the cabinet was told. During the meeting, CM Murad Ali Shah proposed t o rename District South in Karachi with South Karachi. "The districts in the city should be named after their popular areas," suggested Murad in the meeting. The cabinet members also put forward a suggestion to divide Khairpur into two districts. Speaking over the local government institutio­ns, Murad Ali Shah said that Sindh is the only province where local government institutio­ns have completed a five- year term. "We [ Sindh government] allowed LAHORE: Inspector General of Punjab Police, Shoaib Dastgir said on Thursday there is no evidence suggesting that bullets were fired at PML- N Vice President Maryam Nawaz's car outside the National Accountabi­lity Bureau ( NAB) Lahore office. Speaking to the media at Lahore Chamber of Commerce and Industry, the IGP said the police PALPA welcomes PM's endorsemen­t for pilots on fake licenses fiasco See # 26 Page 7 Akhtar Mengal contracts corona See # 23 Page 7 KHA steps to promote national game lauded KARACHI: Pakistan Airline Pilots Associatio­n ( PALPA) has welcomed the acknowledg­ment by the Prime Minister t hat pilots' fake li censes fiasco was unnecessar­ily created and not handled properly, says a Press release. A spokesman for t he associatio­n has exp res sed hope t hat th e PM Imran Khan will order a t horough investigat­ion why the report which formed the basis for t he fake li censes issue, surfaced again despite being rejected by the Supreme Court last year. He said that the PM and parliament were deliberate­ly misinforme­d to feed the personal vendetta against the pilot community by the vested interests that are hell bent on destroying the national carrier. He said that the campaign against pilots for fake degrees and fl ying licences is actually undertaken to victimize those having disagreeme­nt with incumbent management most of which do not have relevant commercial aviation experience. He also demanded the PM to order proper inquiry into the recent incident at t he licensing branch of Civil Aviation Authority ( CAA) where an unknown person tried to set the official record on fire. "Given the highly charged, confused and controvers­ial attitudes by authoritie­s, any attempt to put the blame on pilots will not only be unjust but will also prove the malafide intentions," stated Palpa. The said person tried to burn the record after closing the room of the license branch, however, the associatio­n has demanded an investigat­ion by an inquiry commission under a Supreme Court Judge. "We urge the Supreme Court also to take suo moto in this regard and have it properly investigat­ed to ward off any kind of doubts being created by vested interests," stated the associatio­n. KARACHI: Provincial Sports Secretary Imtiaz Ali Shah has commended Karachi Hockey Associatio­n ( KHA) for promoting Academy, Gulshan- e- Iqbal, says a Press release. Three exhibition matches between different teams, including one from QUETTA: Balochista­n National Part y- Mengal ( BNP- M) le ader Akhtar Mengal announced on Wednesday that his test results for the coronaviru­s have returned positive. The BNP leader took to Twitter to advise everyone who interacted with him in the last few days to get tested for th e virus immediatel­y. The politician shared the news at a time See # 27 Page 7 Business and industrial community termed Karachi ' real stakeholde­rs' the national game in the metropolis. He was speaking as chief guest at the Independen­ce Day celebratio­ns held under floodlight­s at the KHA Sports Hyderabad, were organised to commemorat­e the occasion. The matches also marked the KARACHI: The Business and Industrial Community of Karachi is the only real stakeholde­r of the largest metropolit­an city of Pakistan who genuinely take ownership of the city while contributi­ng the highest share in shape of taxes, generating huge employment and reciprocat­ing t o the society through managing and funding various public welfare projects from their own resources for the betterment of Karachi and Karachiite­s, says a Press release. The city of Karachi has reached to the verge of complete collapse due to political wrangling between the successive Federal and Provincial Government­s and lack of will and sincerity. There are no note- worthy public interest developmen­tal projects which have been practicall­y introduced or completed by the Federal, Provincial or Local Government­s during the last two decades. Hence, the claim of being stakeholde­rs by political parties is untrue and an absolute farce. All these political parties have only their lip service to offer and are unable to highlight what they have done and if anything genuinely exists on ground. Collapsed infrastruc­ture, broken roads, increasing filth and garbage across the city, unavailabi­lity of fit public transport, chowked and garbage filled nallahs and drains, unavailabi­lity of drinking water, electricit­y load shedding, sewerage waters flowing over the streets, unavailabi­lity of other basic amenities and health facilities depicts a very oppressive and dark picture of Karachi whereby the political parties have deliberate­ly closed their eyes. It is our political parties who are the ones responsibl­e for bringing Karachi to this alarming and dangerous positi on. The Federal and Provincial Government­s must take the business and industrial community on board if they are genuinely interested in making effective changes and make us a pivotal part of the proposed committee for the betterment of Karachi, otherwise as witnessed in the past, this so called "betterment" shall remain on paper and slogans without any ground reality. This is demanded by Muhammad Zubair Motiwala Chairman Council of All Pakistan te xtile Associatio­ns, Muhammad Jawed Bilwani Chief Coordinato­r Karachi Industrial Forum, Zain Bashir Spokespers­on Karachi Industrial Forum, Shaikh Umer Rehan President Korangi Associatio­n of Trade & Industry Suleman Chawla President SITE Associatio­n of Industry, Rana Naveed Shakoor President Bin Qasim Associatio­n of Trade & Industry, M. Abdullah Abid President Federal B Area Associatio­n of Trade & Industry, Noman Yaqoob President Landhi Associatio­n of Trade & Industry, Shaheen Ilyas President SITE Super Highway Associatio­n of Trade & Industry, Nasim Akhtar President North Karachi Associatio­n of Trade & Industry. There is a lot of hue and cry in the national print and electronic media by the government on the constituti­onal status of Karachi whether it should remain be a provincial territory or whether it should become a federal territory in future. This is an irony that the political elements talk only about their favourite reference from the Constituti­on of Pakistan to augment their political talks whereas the Constituti­on of Pakistan guarantees provision and protection of fundamenta­l rights to the citizens which was never accorded deserving considerat­ion. After a lapse of more than one decade of the passing of 18th constituti­onal amendment and devolution of majority of portfolios to the provincial government­s, the business and industri al community of Karachi is absolutely appalled, as the civic problems of Karachi have not been addressed and every coming day the situation is getting worse. Where have the billions of rupees gone, which are being generated and collected from the Karachi. It is important to point out that 70% of taxes for the Federal Exchequer and 95% for the Sindh Exchequer are generated from Karachi and what is shocking about this is that Karachi has never seen any of this being invested into the city to make it a city which can sustain its growth. The business and industrial community of Karachi firmly believes that the majority of people sitting in the Sindh Government and political parties are neither originated from Karachi nor do they have the real insight of the burning problems and issues. Only the business and industrial community is well aware about the issues and problems and root causes that have been hindering the pace of developmen­tal works for the betterment of Karachi. Therefore, the government must take on board in the proposed committee representa­tives of the business and industrial community of Karachi from all the industrial associatio­ns, so that they being vital stakeholde­rs, must also play their legitimate role in the economic prosperity and developmen­t of the city. Let the Karachiite­s be given their constituti­onal right to act as part of the committee to not only suffer as silent spectators, but to play a positive role in making Karachi what it was, a quarter of a century ago and to bring at par with other metropolis cities in the world. We, the business and industrial community of Karachi, are and we want to remain a non- political entity. See # 24 Page 7 PID( K)# 455/ 2020 PRINTED AND DISTRIBUTE­D BY PRESSREADE­R PressReade­r. com + 1 604 278 4604 O R I G I N A L C O P Y . O R I G I N A L C O P Y . O R I G I N A L C O P Y . O R I G I N A L C O P Y . O R I G I N A L C O P Y . 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