Qatar has planned to increase employment opportunities for Pakistanis to over 300,000 in the coming year from the current 150,000, Qatar consul General Mishal M Al-Ansari said on Monday.
While addressing members of the Korangi Association of Trade and Industry (KATI), he said that the companies with 100 per cent Pakistani ownership have increased significantly in Qatar.
The Liquified Natural Gas (LNG) agreement between Pakistan and Qatar is a great milestone. Both countries are already working on many joint ventures in areas like defence production, JF-17 aircraft project, defence training, agriculture, food and other industries.
Al-Ansari said that despite terrible conditions due to coronavirus we are fully prepared for FIFA World Cup 2022 and many mega infrastructure projects have been completed.
Following a decrease in the interest rates and the revival of business after the pandemic-induced lockdown,auto loans increased by 19 per cent, reaching Rs41 billion in December 2020.
The figures issued by the State Bank of Pakistan show that the car loans in December 2019 were recorded at Rs219 billion, which increased to Rs256 billion during the corresponding period in 2020.
It is also reported that the growing demand for 1300cc passenger vehicles is the key factor behind the surge in these loans.
According to media reports, the newly launched Toyota Yaris is responsible for the surge in car loans. Toyota Yaris has outsold Honda City and Civic combined.
Another key driver of the increase in loans is the lowered interest rates. The State Bank of Pakistan had reduced the interest rates by 625 basis points to 7 per cent in 2020. Additionally, a decrease in the rates of soft interests meant lesser instalments for car financing programmes.
It seems like a car price hikes by the automakers in 2020 had the least impact on the rising demand for cars. With new players entering the market before the expiration of the Auto Development Policy (ADP) 2016-2021, the demand for cars is likely to surge even more.
Foreign direct investment (FDI) fell by 30 per cent in the first half of the current fiscal year (H1FY21), according to data released by the State Bank of Pakistan (SBP).
According to a report based on the data compiled by a local media outlet, Pakistan received $952 million in foreign investment during July-December FY21 compared to $1.357 billion in the corresponding period last year.
In addition to the damage done by the pandemic, the impact of heavy outflow from the portfolio also played a key role in making the balance sheet poorer in the first half of FY21. The data shows that the outflow during July-December was $244m compared to a net inflow of $18.8m in the same period last year.
The breakup further shows that China made 38pc contribution to the overall $952m FDI the country received in July-December period of FY21. However, the FDI inflows from China also contracted to $359m in the period under review compared to $396m in the same period of last fiscal year.
The other significant contributions were from the United States and UK at $65m and $63m, respectively, both improved from $44m and $58m in the same period of last fiscal year. The United Arab Emirates (UAE) has started disinvesting; however, in July-December FY21, the inflow was $16.3m.
The country received the highest foreign investment of $261m in electricity, gas, steam and air conditioning supply sectors. While an inflow of $137m was noted in financial and insurance sectors.
Pakistan has improved its position in the World Bank’s Ease of Doing Business Index for the second year in a row.
According to the latest rankings released by the global organization, Pakistan has improved its position by an impressive total of 28 points, surging from 136th place to 108th on the rankings. The World Bank report calls this an “unprecedented improvement”, and it is highly indicative of the country managing to exceed even its own expectations yet again.
Out of the six reform areas highlighted in the 2020 edition of the report, Pakistan made the highest improvement in the “Starting a Business” indicator, which is an area largely being revolutionized by the Securities and Exchange Commission Pakistan (SECP).
Pakistan’s ranking in this indicator has improved from 130 to 72 and is placed at second position in South Asian countries in terms of ease of starting a business.
The improvement, according to the SECP, is primarily due to the integration of e-services with the Federal Board of Revenue (FBR) and the Employees Old Age Benefits Institution (EOBI) at the federal level and with business registration portals of Punjab and Sindh at the provincial level.
After this integration, SECP’s e-services offer a one-window facility for company registration with FBR, EOBI, provincial employees social security institutions, the labour department and excise and taxation departments of Punjab and Sindh.
As a result of this reform, the number of procedures to start a business, as recorded in the Doing Business Report 2020, have been reduced from ten to five and Pakistan has managed to rank “among the top ten reformers globally”.
Pakistan emerging as an increasingly business-friendly nation is massively good news for the local hustle culture and the entrepreneurship environment that has rapidly been garnering interest over the past few years.
The Forbes list recognises 200 small and medium-sized companies which have performed the best in the Asia-Pacific region. The criteria for the companies is to have sales below the $1 billion mark.
Systems Limited Pakistan and Feroze1888 Mills Ltd made it to the annual list. Adviser to the prime minister on Commerce and Investment Abdul Razak Dawood appreciated and congratulated the companies for making it to the coveted list.
I congratulate the Systems Limited Pakistan on making it to the Forbes “Asia’s 200 Best Under A Billion 2020” List. It is the only IT sector company from Pakistan which made it to this List. 1/3
He praised the companies and expressed confidence that the achievement of these firms would “provide impetus to others to achieve similar laurels.”
Founded in 1977, Systems Limited Pakistan has the distinction of being the country’s first software technology company, according to a statement on its website.
I have always been a great believer in the entrepreneurship of our people. I am sure these three companies will provide impetus to others to achieve similar laurels. 3/3
With emerging technology, social media is one of the best platforms to market your business. You don’t have to miss this phenomenal marketing strategy for your business growth. Here are some of the best reasons to market your business on social media.
Increased brand awareness
The best approach to discover the needs of your clients than directly speaking with them, is marketplace awareness. Market place awareness is to enhance your ability to assess the entire marketplace from a macro level. Primarily, the basic way to analyze this is to use Google keyword planner and Google trends. Google keyword planner will tell you how aware the market is on a very basic level. Implementing the right strategy will greatly increase your brand recognition since you will be dealing with a broad audience of consumers.
2. Engaging with your customers
Social media is the best route for drawing in and communicating with clients. Focusing on your social presence is extremely important. Moreover, you need to ensure that you have quality content. posting visual content (Photos/Videos) is a plus, you are more likely to grab customer’s attention through it.The more you interact the more possibilities you have of knowing their mindset, you can conduct polls and interact via comments. Set up a two-way communication with your intended interest group so their desires are known and their interests are satisfied easily. Besides, correspondence and commitment with clients is one of the approaches to win their consideration and pass on your message.
3. Cost-effective
Social media is one of the most cost-effective digital marketing methods used to market your product and increase your business visibility. Just by contributing minimal expenditure and time, you can essentially generate revenue. Invest less and gain more. All you need to invest is your time in creating quality content and interact with your customers. It will cut your marketing costs without sacrificing results.
Improved brand loyalty
The main goal of every business is to develop a loyal customer base. Customer satisfaction and brand loyalty go hand in hand, considering this it is very important to engage with your customers regularly for effective bonding. Delivering value to your customers should be your priority. Also, make sure that your brand is consistent.
It is clear that social media marketing has its own advantages, so what are you waiting for? People who need to know about your brand/business are mostly using social media and your call will surely reach them with the right marketing strategies and approaches.
As many as 19 people died in various rain-related incidents in the port city on Thursday, taking the tally of deaths during the three-day monsoon spell in the city to 30.
While blame games continue as authorities hesitate to take responsibility for the lack of monsoon infrastructure in the country’s largest city, the ruling Pakistan People’s Party (PPP) wants all stakeholders to contribute in ameliorating the situation instead of politicising a “pure natural disaster”.
As of yesterday Sindh had seen its worst monsoons in 90years. Today super monsoon torrential rains & floods continue unabated. Please keep all those in your thoughts who have already been working 24/7 to assist citizens during this record breaking unprecedented natural disaster.
Meteorological officials said downpours in August have shattered the 89-year-old record for the city. Some 484mm (19 inches) of rain has fallen this month so far, 130mm on Thursday alone, they said.
According to data released by the Met Office, Pakistan Air Force (PAF) Faisal Base recorded 130 millimetres of rain while Nazimabad has recorded 105.6mm since Thursday morning. Mausamiyat received 74.3mm of rain, while Saadi Town recorded 72mm. About 98.5mm of rain was recorded in PAF Masroor Base, Surjani received 73mm while Kemari recorded 82.5mm.
Many major arteries witnessed severe traffic jams. Power was suspended in several areas as a precautionary measure, a K-Electric spokesperson said.
Karachi Commissioner Muhammad Suhail Rajput urged people not to leave their homes during the spell which, according to a Met Office prediction, is expected to continue for another two days.
Videos and photos making rounds on social media showed submerged cars and motorcycles and water entering houses and buildings, wreaking havoc in the provincial capital.
PPP is running Sindh & thus Karachi for the past 12 years; Bilwal needs to focus to understand & resolve Karachi’s problems before saying a single word about any other issue – this is where test of his intelligence & leadership rests; Karachi can make him “National Leader” pic.twitter.com/x17U3hmQM2
Containers that were put for security purpose on MA Jinnah Road #Karachi for upcoming processions going for a swim. Uncontrollable and dangerous for cars, pedestrians already stuck on the roads. pic.twitter.com/zRkkaWpUVt
Scores of social media users, including Federal Minister Ali Zaidi, posted videos and pictures showing Defence Housing Authority flooded with rainwater after heavy showers pounded the city for hours.
“This is DHA KHI,” Zaidi wrote on Twitter, adding, “Bang in front of my house- which is now partly flooded- but many homes in the neighborhood are under 4 feet of water”.
This is DHA Phase 6 Karachi. What is happening in the low lying areas of KHI today is devastating yet once again. Testing times for Karachiites yet again! No doubt Allah tests those he loves the most.#KarachiRain#KarachiSinks#RainEmergencypic.twitter.com/MEBgRxWMCs
“May Allah have mercy on those who live in low lying areas of this city,” he said in another tweet.
“This is DHA Phase 6 Karachi. What is happening in the low-lying areas of KHI today is devastating yet once again. Testing times for Karachiites yet again! No doubt Allah tests those He loves the most,” he said in another tweet.
Sindh Governor Imran Ismail, in a tweet, said that Prime Minister (PM) Imran Khan is monitoring the situation that has arisen in Karachi due to the torrential rains.
Briefed PM @ImranKhanPTI over Sindh rain situation, Karachi needs special attention. This is unusual and abnormal rain situation which requires emergency response. PM is monitoring the situation and assured to take any action required.
“Briefed PM Imran Khan over Sindh rain situation, Karachi needs special attention. This is an unusual and abnormal rain situation which requires an emergency response. PM is monitoring the situation and assured to take any action required,” tweeted Ismail.
The premier himself has also tweeted over the disastrous situation in the port city.
Have directed Chairman NDMA to immediately not only rescue stranded ppl, but also provide emergency medical assistance, food & shelter to all those in need. I have also asked NDMA Chairman to ensure restoration of utilities on an emergency basis.
In a subsequent tweet, he said that a plan for a permanent solution to the problems facing the people of Karachi will also soon be announced.
RELIEF, RESCUE OPERATION CONTINUES:
In a statement, the military’s media wing Inter-Services Public Relations (ISPR) said that many areas were inundated and people stranded due to heavy rains in various parts of Sindh.
An Army Flood Emergency Control Centre has been established in Karachi for assisting flood victims while a medical camp has been set up at the district centre of Gulberg, Liaquatabad and New Karachi for providing necessary medical care, the Inter-Services Public Relations (ISPR) said.
It said the dewatering of more than 36 sites in Karachi had been completed while cooked meals covering 10,000 people had been distributed among flood victims in various areas.
The following telephone numbers can be contacted for immediate assistance by the army:
• 021-34491082
• 021-99247267
• 021-99207795
Meanwhile, army engineers completed the enhancement of the bund along M9 near the Northern Bypass to avoid flooding.
Army troops also filled a breach in the Malir River near Quaidabad, according to the ISPR. “Pakistan Army engineer boats are busy shifting people to safer places,” the statement said.
A relief and medical camp has also been established in Latifabad area of Hyderabad. Food was provided to the affected population while army engineers were busy in dewatering various areas, it added.
According to the ISPR, army troops “have been forwardly placed at Dadu for any eventuality and spillover at Nai Gaj Dam”.
The banks of Puran Nullah in tehsil Jhudo of Mirpurkhas district had been damaged due to heavy rains, as a result of which water entered the nearest five villages. However, the breach was plugged with the combined efforts of army troops and civil administration to stop the flow of water to these areas, the ISPR said.
The statement came a day after the army chief, General Qamar Javed Bajwa, directed Karachi crops to step up flood relief operations.
#COAS directed karachi Corps to step up flood relief operations to assist affected people due to recent rains in interior Sindh and #Karachi. “Troops must reach out to affected population in distress and extend all necessary care”, COAS.
Meanwhile, the personnel of Pakistan Rangers Sindh continued the relief and rescue operation in the rain-affected areas of Karachi in a coordinated manner.
According to the Rangers spokesperson, the Rangers constituted separate teams for relief and rescue work to carry out the operation in a faster manner while reserve teams were also present in various areas to deal with any kind of emergency.
Rations were also being distributed in the areas where food supply is low with the help of philanthropists.
Rangers asked the people to contact Rangers helpline 1101, Rangers check post or WhatsApp number 0347-9001111 for immediate assistance regarding rescue or relief.
Pakistan Navy’s rescue and relief operation also continued in various parts of the city during heavy spell of rain.
Pakistan Navy Emergency Response and rescue teams evacuated stranded people to safer places and recovered bodies being washed away in flash flood, a Pakistan Navy press release said.
In assistance to civil administration, Pakistan Navy Emergency Response teams along with boats and requisite life-saving equipment were deployed in different areas of the city, including Diamond City Malir, Shah Faisal Town, Korangi Crossing, Sammo goth and Bahria Town Karachi.
During search and rescue operations, Pakistan Navy divers recovered two dead bodies from Shah Faisal Town and Korangi crossing areas while 55 individuals were evacuated from flooded areas of Malir and Korangi crossing. Besides, Rescue teams have also evacuated 20 families stranded in Sammo Goth and shifted them to safe place.
Pakistan Navy’s helicopter conducted aerial recce of Korangi crossing, Quaidabad (Malir nadi), and Goth Shafi Muhammad while aerial recce with the help of a quadcopter was also carried out in Saddar Town in support of relief operations to localise individuals requiring assistance. Additionally, ration bags and cooked meal was also dropped at various areas.
FLIGHT SCHEDULE DISRUPTED:
Meanwhile, the flight schedule was disrupted at Jinnah International Airport Karachi due to rough weather and heavy rainfall. The Civil Aviation Authority (CAA) announced the suspension of a number of its flights on Thursday due to torrential rains in the port city.
A Lahore-bound private airline flight-522 and Islamabad bound PK-368 flight have been delayed, said the CAA spokesperson.
Moreover, Karachi to Faisalabad flight PK-540 and Lahore-bound Pakistan International Airline (PIA) flight PK-304 have also been delayed.
NETWORK OUTAGES AMID POWER BREAKDOWN:
The national telecom regulator informed on Friday that cellular services in the city were not blocked and outages faced by users were due to the prolonged power breakdown.
Speaking to Geo, Pakistan Telecommunication Authority (PTA) spokesperson Khurram Mehran said, “Due to prolonged power failure in the city, many towers are out of service and their generators are shut because there’s no fuel to power them.”
Mehran said the blockages have nothing to do with Muharram security, as was being speculated in some circles.
The power utility, K-Electric, meanwhile claimed that its teams were working to the best of their ability to deal with the current circumstances and restore electricity with limited available resources.
Many KE vehicles got stuck in flooded roads and streets across the city. Also, our staff is working in long shifts because relievers were unable to make into service centers due to water logging. 2/3
“Many KE vehicles got stuck in flooded roads and streets across the city. Also, our staff is working in long shifts because relievers were unable to make it to service centers due to water logging,” the company said in a statement issued earlier today.
KE therefore warned that restoration work may take longer than expected time as the situation remains ‘difficult’.
HUB DAM FILLS TO MAXIMUM CAPACITY:
The water level in Hub Dam, which supplies water to Karachi and meets the water needs of several areas in Balochistan, crossed the 339-foot mark yesterday and filled to its maximum capacity for the first time in 13 years.
The water level in the dam had risen due to the recent spell of torrential rains in Karachi and Sindh and the dam has now begun to flow out from the spillways into the sea near Mubarak Village.
The WAPDA administration had earlier closed the Hub Dam to visitors in view of health hazards. However, residents of the settlements around the dam, residents of the Hub Dam Residential Colony, Karachi residents and others arrived in large numbers in the spillway area to witness the streams overflowing, which look much like waterfalls.
In the catchment area of Hub Dam, which stretches up to the mountain range of Balochistan, the water level has risen by more than 9 feet in three days.
Punjab government has again revised working hours for business operations in the province to curb the surge of COVID-19 cases.
All businesses in Punjab will be allowed to operate all week long from 8 am to 10 pm every day.
Other essential businesses such as medical stores, clinics, grocery stores, petrol pumps will be permitted to operate 24/7.
The minister has directed all district administrations to ensure the wearing of face maks in markets all over Punjab.
It was decided in a high-level meeting held yesterday in Lahore chaired by the provincial Law Minister, Raja Basharat. The meeting discussed the Coronavirus situation across Punjab and adherence to Standard Operating Procedures (SOPs) to stop the transmission of the viral infection.
It must be noted that the Punjab government had allowed all businesses to operate 24/7 after a steady decline in Coronavirus cases across the province.
In the last 24 hours, Punjab has reported 158 new cases and 2 deaths due to Coronavirus.
In a historic first, not even a single car was sold in Pakistan during April 2020 as countrywide lockdowns due to the coronavirus continued to take a toll on the economy, and consequently, the automobile sector, SAMAA quoted analysts as saying.
According to data from Pakistan Automotive Manufacturers Association, the lockdowns resulted in the closure of plant operations along with car dealerships across the country. Car sales in the last 10 months ending April dropped by 52% compared to the same period of the preceding financial year, Topline Securities said in a report, adding that motorcycle sales were also affected.
“The auto industry sold 39 units in April, which only included trucks and buses,” Inter Market Securities (IMS) said in a separate report, noting there were no passenger car sales due to the lockdown that came into force on March 24.
Tractor sales were down 30% in April compared to the same month of 2019. “The decline in [tractor] sales was probably because of a partial lockdown, which was later eased for the tractor industry given its links to the agriculture sector amid harvesting season,” it said.
“With the easing of lockdowns in the country effective May 11, we expect sales to resume for the last two weeks of May,” IMS said. It, however, added the sales are expected to pick up in the first half of 2021. This is because Indus Motor Company, the makers of Toyota in Pakistan, and Honda Car Pakistan Limited increased prices recently and Pak Suzuki Motor Company is likely to follow suit. But analysts at IMS also said the reduction of more than 4% in interest rates may help auto-financing pick up earlier than expected.
Similar situations have been reported across the globe as COVID-19 continues to affect global economy and spell misery for consumers.
According to BBC, the United Kingdom’s (UK) motor industry has been in suspended animation for weeks. Showrooms have been closed while vast factories, which normally produce hundreds of cars every day for sale here and abroad, have been standing idle.
According to the report, the committee formed to investigate on exports of wheat and wheat flour during the ban period failed to produce results.
According to the statistics of Pakistan Revenue Automation Limited (PRAL) and Federal Board of Revenue (FBR) shows 3,947 and 26,206 metric tonnes (Unit of weight equal to 1,000 kilograms) were exported between Aug-Oct 31, 2019.
The committee failed to produce the desired results and was also unable to identify the Customs officers involved in the scam. The only action that was taken is transferring of seven Collectorate officers of Peshawar and Quetta.
When a senior customs officer was asked to comment on the matter, he said “I don’t want any media reporting on the issue as a lot of damage has already been done to the department”,
Instead of revising the investigation processes or tracing the culprits behind the scam, the issue was turned into integrity matter of the Customs Department.
Furthermore, according to the Custom Intelligence Department, they have conveyed to the government that 505 containers were cleared at Torkhan Border without the filing of goods declaration and payment of duty and taxes.
The figures on clearance of containers without duty and taxes were challenged by Chief Collector North Dr Asif Jah. “I am still doing my investigation,” adding that “he has already reconciled 300 containers.”
To investigate the matter, a number of committees were formed and Prime Minister’s Secretariat is not happy with the outcome of these reports and has now directed the Federal Investigation Agency (FIA) to conduct a probe.
The FIA has already compiled one report but it was returned with further directions to probe the issue thoroughly. “We will take action against the Customs officers if found involved,” the officer said.
