Mr. Hafeez Akhtar Randhawa, Chairman, The Bank of
Punjab said that the policies initiated by the new management are bold
and in line with the current market realities and are clearly
evidenced from the phenomenal results of last year. Our performance
last year and the new policies will serve as a basis for the better
results. He added further that The Bank of Punjab would expand its
network on district level to bring into the loop, all the transactions
related to wheat, cotton, milk, sugarcane and other crops contributing
to the national prosperity and development.
PAKISTAN WILL HOST THE 11TH ASIA OCEANIA REGIONAL
The Fund Managers of Pakistan are exploring the
possibilities of technical co-operation of their counterparts in India
who have already developed expertise in training & education as
well as funds distribution network, this was stated by Chairman Mutual
Funds Association - MUFAP, Mr. Zaigham Mahmood Rizvi while addressing
a press conference. He said that such possibility of technical
collaboration may cover Off-shore Fund, Pension & Annuity Funds,
Real Estate & Infrastructure Fund, and Capital Guarantee Fund.
This will help Mutual Fund industry through a variety of products
catering to various risk and returns profiles of investors.
Briefing about delegation of MUFAP's visit to
India, Mr. Zaigham Mahmood Rizvi, who is also the Managing Director of
Pak-Kuwait Invest Company Limited, and Chairman of MUFAP, said that a
six-member delegation of MUFAP headed by him has visited New Delhi to
attend the 9th Asia Oceania Regional Meeting — AORM of the
International Investment Funds Associations held from March 3-7, 2004
on the invitation of Association of Mutual Funds in India — AMFI.
The Meeting was attended by delegations from twelve countries,
Australia, Bangladesh, China, Hong Kong, India, Japan, Korea,
Malaysia, Pakistan, Philippines, Singapore, and Taiwan. Pakistani
delegates held meeting with delegates from these countries to explore
cooperation in mutual funds sector. Pakistan delegation also held
meetings with Indian Asset Management as well Distribution Companies,
which included Birla Group, Bajaj Capital, and MJ Capital to explore
technical cooperation between the two countries' mutual fund industry.
While MUFAP is relatively a fresh member of the Asia Oceania Group, an
Investment Funds Association, it has been honored to be the host of
Eleventh Asia Oceania Regional Meeting to be held in the year 2006,
added Mr. Zaigham.
FIRST EXPORT ORDER
Data steel pipe industries the largest spiral
welded pipe manufacturers of the country has obtained the first export
order of approximately 300 metric tons from Sri Lanka.
This is the first export of its kind from Pakistan.
And if Pakistan Steel Mills successfully delivers the required raw
material in time there is lot of scope for future business.
IRAN WILL ISSUE THE 60,000 VISAS THIS YEAR
President Islamabad Chamber of Commerce and
Industry Mr. Zubair Ahmed Malik stressed to increase the bilateral
trade between Pakistan and Iran. He stated to H.E. ambassador of Iran
Mohammad Ebrahim Taherian. The Ambassador said to the ICCI delegation
that policy is transparent and our priority is to extend trade
relation and our target is to reach the 1 billion dollar mark by
bilateral trade. Iran facilitates the businessmen to provide the
facility and this year Iran will issue the 60000 visas for Pakistan
who will visit the Iran. Ambassador of Iran further stated that
Government cannot do everything but government duty is to provide
facility to private sector. Gas pipeline will be beneficial for the
regional countries especially Pakistan and Iran. President ICCI Zubair
Ahmed Malik stressed to improve the ECO role and said that lets find
some ways to stop the across boarder smuggling because Pakistan and
Iran both have 900 km border.