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PAKISTAN AMONG HIGHEST CHARITY GIVING NATIONS
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ISSUE # 26 ----- June 29 - July 5, 2015

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Muslims give more money to charity than people of other religions. More than three in 10 Muslims, Catholics and Jews donated money during 2012, ICM Research found. Followers of Islam gave an average of $567 compared to Jewish givers who donated around $412; according to the survey of just over 4,000 people in the UK Christians gave considerably less. Protestants donated an average of $308, while Roman Catholics gave around $272, the poll found. Atheists averaged just $177.....

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PAGE TOP STORIES

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EXCLUSIVE INTERVIEWS
& PAGE SPECIAL REPORTS

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DESPITE ALL ODDS, K ELECTRIC COMMITTED TO BECOME NET ENERGY EXPORTER BY 2020
INTERVIEW USAMA QURESHI
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With the advent of the summer, there is an increase in the consumption of electricity routed towards ACs and other cooling appliances. Coupled with the theft of electricity, this causes overloaded PMTs and feeders to trip frequently. Consumers are advised to use electricity more judiciously and get their consumption regularized to avoid frequent outages. Our customer service team is available around the clock on SMS, email, 118 and Digital Platforms to facilitate all such unannounced queries.
Moreover, there is a rapid upward trend in the usage of appliances & AC’s, consumers are requested to approach their concerned service centers known as IBC’s to re-evaluate their connected load versus the load they applied since they started using their premises........

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LIVE A BETTER LIFE WITH A HEALTHY CHILD, SAYS DR SHAGUFTA
EXPOSURE TO CELL PHONES, AND LAPTOP, AN IMPORTANT FACTOR CAUSING DYSFUNCTION OF A BABY BRAIN
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Biozyme, in accordance with varied demands in respective generations, has a success in R&D of more than 100 items taking the dietary habits, ages and biophysical conditions of the global customers into account. In order to secure and sustain the customers’ confidence in Biozyme, the applications for quality-related marks and labels are in progress locally and globally. In Taiwan, we have received the index marks as follows: Little Green Man health food label (a certificate issued by FDA, meaning product can claim good impact on health), SNQ (Symbol of National Quality, Issued by IBMI.....

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OIL PRICES
OIL WEEKLY BASKET PRICE

 (US Million $)
PERIOD PER BARRELS
June 26, 2015 59.91
June 19, 2015 60.21
June 12, 2015 61.08
June 5, 2015 60.48
May 29, 2015 60.43
May 22, 2015 61.78
May 15, 2015 62.83
May 11, 2015 63.03
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PREVIOUS ISSUES

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PAKISTAN WEATHER
3 DAYS FORECAST

  MIN MAX HUM% FORECAST.
KARACHI
SUNDAY 29 38 46 sunny
MONDAY 29 39 41 sunny
TUESDAY 29 36 52 cloudy
LAHORE
SUNDAY 29 42 38 sunny
MONDAY 28 41 44 sunny
TUESDAY 27 38 52 sunny
ISLAMABAD
SUNDAY 26 39 36 sunny
MONDAY 24 39 43 sunny
TUESDAY 25 36 58 t.storms

updated: Sun-Tue, June 28- 30,2015

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COVER STORY

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POVERTY GRAPH RISING IN THE COUNTRY WITH EVERY PASSING DAY
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While an estimated 2.6 billion people in the developing world have to make a living on less than $2 a day; the problem of under nutrition is aggravating and more and more people are facing diseases and deaths.
In Pakistan, loss of lives of over 1000 people, due to extremely hot weather conditions are also linked with poverty. Poverty is intimately associated with under-nutrition; FAO estimates that globally about 1000 million humans were undernourished......

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COVER STORY
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OBJECTIVE OF MDGs AND EASING POVERTY, HUNGER NOT TO BE REACHED THIS YEAR
INTERVIEW WITH MR MUHAMMAD FAROOQ AFZAL -- PRESIDENT & CEO ITN GROUP OF COMPANIES
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Poverty is not a new phenomenon in Pakistan as every third Pakistani is caught in the poor bracket; about 58.7 million out of a total population of 200 million subsist below the poverty line. This includes more than half the population in Baluchistan, 33 per cent in Sindh, 32 per cent in Khyber Pakhtunkhwa and 19 per cent in Punjab.

According to the report, Pakistan Living Standards Measurement, survey data have registered a decline in the poverty headcount from 34.5 to 12.4 per cent in 10 years. Though this indicates a lot of progress towards poverty alleviation, the realities on the ground do not match the conclusions. Due to which a technical group was set up by the Ministry of Planning, Development and Reforms to review the official methodology for poverty estimation and validation of poverty numbers.....

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COVER STORY
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PAKISTAN AMONG HIGHEST CHARITY GIVING NATIONS

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Muslims give more money to charity than people of other religions. More than three in 10 Muslims, Catholics and Jews donated money during 2012, ICM Research found. Followers of Islam gave an average of $567 compared to Jewish givers who donated around $412; according to the survey of just over 4,000 people in the UK Christians gave considerably less. Protestants donated an average of $308, while Roman Catholics gave around $272, the poll found. Atheists averaged just $177.
Pakistan being a Muslim country is among the highest charity giving nations. According to the 2010 report Development Assistance Committee of the Organization for Economic Co-operation and Development Pakistan ranked 4 by the amount of money countries give as a percentage of their gross GNI (Gross National Income).......

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COVER STORY
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EDHI FOUNDATION – THE LARGEST AND PIONEER CENTER FOR SERVING HUMANITY
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Abdul Sattar Edhi established his first welfare centre and then the Edhi Trust with a mere Rs5,000. What started as a one-man show operating from a single room in Karachi is now a reputable Edhi Foundation, the largest welfare organization in Pakistan.

Edhi is like Mother Teresa who devoted her life to the poor of Kolkata while he (Abdul Sattar Edhi) leads the way of helping the Karachiites and spreading his help all over Pakistan. His help and work is even started to the other parts of the world now....

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COVER STORIES
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SHIPPING
NEWS

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IRAN PREPARES SALE OF 44-M BBL CRUDE OIL
Iran is storing as much as 44-M bbl of Crude Oil on supertankers at Sea as it prepares for a sales drive if a nuclear deal can be sealed.
Iran and the 5P+1 world powers are seeking to overcome last differences by 30 June deadline to reach a deal over Iran’s disputed nuclear program.
In the meantime, Iran is parking Crude Oil off its coast, mainly on tankers belonging to its national carrier NITC.
"The 1st thing they will try and do is offload a lot of that storage........

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COVER STORY
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POVERTY: DISMAYING CHALLENGE FOR THE GOVERNMENT
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About 33 per cent of Pakistan’s population subsists below the poverty line. In sheer numbers, 58.7 million people are living below the poverty line in Pakistan out of the total population of an estimated 200 million. This is really a scaring task for the present government. It may be noted that the government has not yet produced poverty estimates for the past several years.
An Islamabad-based think-tank – Sustainable Development Policy Institute (SDPI) launched the report titled "Clustered Deprivation." The new study uses the Multidimensional Poverty Index (MPI), an international measure of acute poverty developed by Oxford Department of International Development....

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COVER STORY
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FAYEEZA AND ARIF NAQVI FIRST PAKISTANIS AWARDED THE BNP PARIBAS PRIZE FOR INDIVIDUAL PHILANTHROPY
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BNP Paribas, a leading global private bank, has honored Fayeeza and Arif Naqvi, founders of the Aman Foundation in Pakistan, as the BNP Paribas 2015 Grand Prix winners. They are the first Pakistanis to have ever received the honour. The announcement was made in Paris at an award ceremony hosted by Vincent Lecomte and Sofia Merlo, Co-CEOs of BNP Paribas Wealth Management.
The Grand Prix honors an individual or family for their overall philanthropic activity, commending the exemplary nature of their actions, their financial engagement, impact and long-term commitment....

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RESEARCH CORNER

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BENAZIR INCOME SUPPORT PLAN GROWING INTO BIGGEST SOCIAL SAFETY NET

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In the present federal budget, the government has grown the amount for Benazir Income Support Programme (BISP) from Rs97 billion FY2014-15 to Rs102 billion for FY2015-16. The number of BISP beneficiaries increased to 5 million during FY2014-15. However, BISP has issued the installment of Rs23 billion to its partner banks for the previous quarter of the present financial year. BISP is the biggest social safety net in South Asia under which 4.9 million beneficiary families are given Rs1500 per month and Rs4500/quarter. Female beneficiaries may withdraw cash from any POS and ATM machines. BISP offers money to its beneficiaries by partner banks such as HBL, Tameer Bank, Sindh Bank, Bank Alfalah, UBL and Summit Bank.....

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CAPITAL MARKETS
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COVER STORY
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MORE MONEY CREATES MORE POVERTY
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It is mandatory, to survive under capitalistic system, to record economic growth every year. This growth is predominantly expressed by a single macro indicator – GDP. The prevailing prices of the factors of production and market prices of goods and services consumed during the year form the basis of GDP calculation. Controlled increase in prices on a sustained basis is the key to the survival off the system.
Situations when incomes and prices tend to remain at standstill or when they start declining are system’s areas of serious concern. The system wouldn’t have survived had the prices of precious metals – and for that matter the prices of other commodities including the necessaries of life -- not gone up 500 to 600 times during the last five or six decades.......

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IN THE NEWS

An agreement of 300 megawatt solar project was signed between Punjab government and a Chinese company under China-Pakistan Economic Corridor at a ceremony presided over by Punjab Chief Minister Muhammad Shahbaz Sharif on Friday. According to the agreement, Chinese company Zonergy will complete 300 megawatt project at Quaid-e-Azam Solar Park Bahawalpur under China-Pakistan Corridor by December 25, 2015. The 50 megawatt solar project will start producing electricity by August 14, 2015 while 600 megawatt solar project will provide electricity by the end of 2016.....

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INDIA IN THE NEWS

NEW DELHI: Starting in July, India's state-run pension and social security fund will invest about $800 million in equities in the current fiscal year, labour minister Bandaru Dattatreya said, in a long-awaited move that may help finance an ambitious privatization programm.
The more than $100 billion Employees' Provident Fund Organisation (EPFO) intends to place an initial 1 per cent of its investments in exchange traded funds, increasing to 5 per cent of the annual total in equity products by March 31......
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GULF NEWS

Iranian Ambassador to Turkey Ali Reza Bigdeli said Turkey will purchase more natural gas from Iran, which will grant a certain reduction in gas prices accordingly. He added that a new agreement is needed so that Turkey can receive a discount from Iran for natural gas. "The formula has been accepted by us," said the ambassador, and also underlined that the International Court of Arbitration - where natural gas pricing between Turkey and Iran is addressed - is not a court in the traditional sense of the term but a decision-making forum for the two countries...

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ANNOUNCEMENT

Global Home Remittance is playing a significant role in contributing to the economic growth, livelihood and prosperity of Pakistanis all around the world. NBP now over a couple of years is equally playing a major role in helping the growth of home remittances to Pakistan through its streamlined and trusted services. It is working continuously to develop innovative ideas into service features that allow to process and payout remittances even faster resulting in greater customer satisfaction. NBP having the most penetrated network in Pakistan, providing comprehensive domestic distribution of remittances to beneficiaries across Pakistan....

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EXCHANGE RATES
Pakistan Open Market Rates

BUYING SELLING
US $ 102.6 102.85
UK POUNDS 160.6 160.85
KUWAITI DINAR 335.85 336.1
SAUDI RIYAL 27.05 27.3
UAE DIRHAM 27.8 28.05
CANADIAN DOLLAR 82.4 82.65
EURO 114 114.25
JAPANESE YEN 0.83 0.86

MORE RATES

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COVER STORY
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PRIVATE DONATIONS UNDER CHARITIES AMOUNTED TO AROUND RS400 BILLION ANNUALLY
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While fasting is the hallmark of the holy month of Ramazan, the month long Muslim observance that begins with first Ramazan is also grounded in a heightened awareness of charity.
Ramazan is a month of blessings and people become more spiritually aware in this holy month and are more likely to give to needy and not just to Muslims, but on a humanitarian basis. Those who donate will have their blessings multiplied, too. In addition to charity and giving up food and drink during daytime hours for a month, Muslims will focus on prayer and self-accountability.....

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CAPITAL MARKET
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STOCK REVIEW
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The KSE-100 Index fell 2 per cent week on week (WOW) to close at 33,885 points, amid the onset of Ramazan and politics becoming noisy. Average daily turn over (ADTO) fell 22 per cent WOW to 358 million shares, and average daily value traded dropped 36.5% WOW TO US$83.3 million.
The KSE-100 Index remained in the negative territory most of the time during the trading sessions of the week concluded on Friday (June 26) where it closed in a red at 33,885 levels, which suggests that the Index could target its 100DMA – 33,200...

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CAPITAL MARKET
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STOCK WATCH
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The Karachi share market started in negative on Monday as the KSE-100 Index was brought down by 248.26 points to close at 34,278.42. The end of June closing for companies in several sector and the market’s rollover were major reason for profit-taking. Volume too decreased to 188 million shares from 207 traded last Friday. Oil and Gas sector remained depressed with PSO, PPL & POL loosing 1.1 per cent; 0.5 per cent and 1.5 per cent respectively. Main interest was seen in heavy weight stocks like OGDCL and in MCB which gave support to market over further decline.

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12June15 19June15 22June15
NASDAQ

5,055.42

5,132.95

5,112.19

H.SENG

27,280.54

26,928.00

26,628.97

SENSEX

26,425.30

27,318.18

27,696.73

NIKKEI

20,407.08

20,174.24

20,706.15

CAC-40

4,901.19

4,803.48

5,041.71

DAX

11,196.49

11,100.30

11,473.13

FTSE

6,784.92

6,707.88

6,783.89

S&P

2,095.05

2,121.24

2,102.31

DJIA

17,898.30

18,115.84

17,890.36

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As On June 26, 2015

TENOR

BID

OFFER

1 Week

6.21

6.71

2 Week

6.31

6.81

1 Month

6.34

6.84

3 Month

6.71

6.96

6 Month

6.73

6.98

9 Month

6.76

7.26

1 Year

6.84

7.34

2 Year

7.24

7.74

3 Year

7.57

8.07

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RESEARCH CORNER
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WITH EXEMPLARY TENACITY, EDHI EVER COMMITTED TO THE WELFARE OF HUMAN BEINGS
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In Pakistan, Edhi Foundation is the biggest and well-organized social welfare system. Foundation works round the clock, with no any discrimination on the basis of race, color, language, religion or even politics. The dynamic nature and the range of social services offered through Foundation makes it dissimilar from other organizations.
Edhi Foundation's activities comprise a 24 hour emergency service in the entire country by 335 Edhi centers with the fleet of 1,800 ambulances, which give free shrouding and burial of unclaimed dead bodies, shelter for the destitute, orphans and handicapped people, free dispensaries and hospitals, rehabilitation of drug addicts, free crutches, wheel chairs and other services for the handicapped, family planning counseling.....

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BUSINESS QUOTATIONS
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Poverty entails fear and stress and sometimes depression. It meets a thousand petty humiliations and hardships. Climbing out of poverty by your own efforts that is something on which to pride yourself but poverty itself is romanticized by fools.
J. K. ROWLING
I am for doing good to the poor, but I differ in opinion about the means. I think the best way of doing good to the poor is not making them easy in poverty, but leading or driving them out of it.
BENJAMIN FRANKLIN
In a country well governed, poverty is something to be ashamed of. In a country badly governed, wealth is something to be ashamed of.
CONFUCIUS
When I was in high school, I used to have breakfast with my grandpa every morning. He instilled a lot of values in me: hard work, loyalty. He grew up during the Great Depression in Philly in poverty - he didn't have enough to eat as a kid. Sometimes his family would get kicked out of their apartment because they couldn't pay the rent.
MATTHEW QUICK
We pledge ourselves to liberate all our people from the continuing bondage of poverty, deprivation, suffering, gender and other discrimination.
NELSON MANDELA
This is what people don't understand: obesity is a symptom of poverty. It's not a lifestyle choice where people are just eating and not exercising. It's because kids - and this is the problem with school lunch right now - are getting sugar, fat, empty calories - lots of calories - but no nutrition.
TOM COLICCHIO
The things that drive me are poverty, and pain, and knowing that I don't want to end up being alone and I want to do something with my life and I want the name Dobson to remain in everyone's heads. Basically, just to rock and be the best performer I can be, and be true, and be real, and give people the real Fefe, nothing fake, all real.
FEFE DOBSON

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COVER STORY
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CHHIPA TAKES PRIORITY TO SERVE AND LOVE HUMAN AND RESPECT HUMANITY

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Chhipa Welfare Association is purely a non-profit, non-government organization registered with Government of Pakistan and Government of Sindh, which under the guidance of Dr Muhammad Ramzan Chhipa (Sitara-e Imtiaz), is having a mission and motto called "loved human, respect humanity". It is providing comfort and mental solace to the poor, worried and wretched persons through all possible means.

 The Association used to provide help and succor to the suffering people in times of their extreme needs. Chhipa has a priority to serve and save human without any discrimination of caste creed or color.
One of the biggest operations is the ambulance service with highly dedicated fleet, equipped with all emergency facility for the resuscitation of the injured or sick, seriously or in acute trauma phase......

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CURRENCY CONVERTER
(Open Market)

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THIS WEEK TOP STORIES

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COVER STORY
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POVERTY -- MORE THE RESULT OF POOR LEADERSHIP THAN SCARCE ECONOMIC RESOURCES
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According to the January 2012 report released by The CIA World Factbook, Nigeria ranked 6th in the list of the poorest nations with its majority population living on an income less than $2 a day. This is surprising as Nigeria – the 21st world economy by nominal GDP ($633bn) and 20th by PPP ($1,109bn) – is Africa’s largest oil exporter with its exports almost touching $100bn mark. Its fossil fuel reserves are the mainstay of its economy.
For economists, this is a case of "resource curse" – a situation where high economic resources fuel high corruption and a struggle among the top echelons of the society for higher personal gains ensues. The result is that the poor are badly marginalized...

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