Corporate Ambassador penetrates into 52 countries

cropped-new-cover-pictures.jpgCorporate Ambassador 1st 2nd 3rd Awards Pix

Friends this is heartening to point out that weekly Corporate Ambassador is being read/monitored in 52 countries in the world. In Oct 2014, I introduced weekly Corporate Ambassador through the wordpress ( which is in addition to two-and-half years old website (

Weekly Corporate Ambassador has attracted a very impressive response from the readers in 52 countries in just three months time because of swift uploading of important stories and pictures. Reading and Monitoring of Corporate Ambassador in 52 countries indicates the worth of the contents being published online.

I am grateful to the readers who are regularly reading and monitoring the Weekly Corporate Ambassador to get insight about the economy of Pakistan and important global economic developments.

I wish you a very happy near year 2015.

According to the data of the _ weekly Corporate Ambassador is being read/monitored in the following countries _ Pakistan, the United States, United Kingdom, United Arab Emirates, Saudi Arabia, Indonesia, Germany, Turkey, India, Switzerland, Singapore, Republic of Korea, Azerbaijan, Qatar, Poland, Bahrain, Australia, Spain, Sweden, Malaysia, Israel, Austria, France, Norway, Ireland, Italy, Bangladesh, Myanmar, Hong Kong, Netherlands, Egypt, Taiwan, Oman, Portugal, Viet Nam, Yemen, Mexico, Thailand, New Zealand, Philippines, Senegal, Kenya, Japan, Brazil, Kuwait, China, Nepal, Reunion, Brunei Darussalam, Tunisia and Nigeria.


NBP bringing 4-6 ATMs at one point

NBP ATM Points

NBP President Syed Ahmed Iqbal Ashraf is inaugurating the First NBP ATM Point in Sakhi Hasan branch, near 5-Star Chowrangi, Karachi.

KARACHI: Going miles ahead over other banks, the National Bank of Pakistan is introducing ATM Point where 4 to 6 ATMs would be placed to facilitate cash withdrawal by maximum customers of NBP and other banks.

NBP ATM Point2

The availability of 4-6 ATMs at one point would also end the years-old culture of “out of cash ATMs” during important days like Eid holidays and other events of national importance.

For the ease, comfort and care of NBP customers, National Bank of Pakistan (NBP) is in the process of setting up “NBP ATM POINT” which will comprise centers of 4 – 6 ATMs at various locations in the country, first of which was launched on 31.12.2014 at NBP Sakhi Hasan Branch, Five Star Chowarangi, North Nazimabad, Karachi, the service was inaugurated by Syed Iqbal Ashraf, President NBP.

While launching the service, Mr. Ashraf said that “ The Bank intends to install 1000 ATMs in 2015 making it one of the largest ATM Networks in the country and this ATM Point launched by NBP will be beneficial for existing customer, potential customers and will also help to attract the card holders of other banks. Superior quality of service is the hallmark of ‘Nation’s Bank’ and in the coming months the Bank wishes to enable clients getting salary/pension to draw the amount through ATMs at their own convenience and without coming to brick and mortar branches” He further said “The team which has worked and launched this service is felicitated and lauded their efforts in making this project a success. These ATM Points are going to be established at places convenient to public access at large. These Points are being established at locations which are either in close vicinity to branches having large number of accounts or within same space / premises where a branch already exists.”

NBP is one of the largest bank which enjoys the distinction of serving in-service and retired government employees. Salary and pension accounts run into millions and most of the account holders approach branches for withdrawal of cash within first ten days of every month. This extraordinary rush sometime affects the quality of customer services. The initiative has already been taken to make payment of pension payment through system support designed in-house by virtue of which the visiting pensioner does not require to bring a self-filled in pension bill/voucher as the same is being generated through system support. The Bio-metric devices shall also be installed at ATM Points to capture “Thumb Impression” of any visiting pensioners and retain the same as proof of life after approval of the concerned Ministry, for continuation of pension payments.

NBP has one of the largest branch network with over 1350 branches, all of these being online. It has been realized that deployment of modern technology will enable the Bank to further improve the quality of service and would further expand the banking services horizon at the doorstep of its account holders/customers.

Assigning top priority to the project the first ATM Point site has become functional as of December 31, 2014, similar ATM Points will be established at Bahawalpur, Kharian, Multan, Gujranwala, Sialkot in the first phase.

The event was also graced by Mr. Nausherwan Adil, SEVP/Group Chief, Operations Group, Mr. Khalid Bin Shaheen, SEVP/Group Chief, GHRMG & Media, Mr. Mudassar H. Khan, SEVP/Group Chief, C&RBG, Mr. M. Tariq Jamali, SEVP/Group Chief, LSS&EG and other Senior Executives.

JS Bank to conduct due diligence of KASB Bank

State Bank of Pakistan (SBP) has granted permission to JS Bank to conduct due diligence of KASB Bank for its proposed acquisition. JS Bank has shown interest to carry out due diligence of KASB Bank as part of its long term vision.
JS Bank
JS Bank is one of the fastest growing banks in the country. The Pakistan Credit Rating Agency (PACRA) has maintained the long-term rating of JS Bank at “A+” (A Plus) and Short term at A1 (A One) respectively, which further indicates the financial health of the bank and the trust reposed in it by the country’s premier credit rating agency. Presently JS Bank has laid its footprint across metropolises of Pakistan with 238 branches in 122 Cities and plans to expand its outreach with more branches nationwide this year.  JS Bank is part of the JS Group, one of Pakistan’s largest and most prominent business entities.

IBT Students paint Press Club Wall

By: Muhammad Humayun Mirza

Paint PressClubCleanliness begins with purity of your own mind, thoughts and heart. For creating awareness of the hygienic atmosphere, around forty five passionate students of the Institute of Business & Technology (IBT) woke up to clean the area Press Club and paint its walls.

Along with the garbage-removing activity, students beautifully painted the walls of the Press Club with Artwork combined with inspirational messages, particularly on social issues like education and women empowerment, Pakistani culture. The sidewall of the Press Club that had political graffiti and advertisements scribbled on it, was completely whitewashed.

Sharing his comments on the occasion, Humayun Mirza, one of the students, said, “The idea of this cleanliness and painting drive was to promote a positive message through Karachi’s walls, as it will create a great impact on the people for cleanliness.”

Members of the Press Club highly appreciated the students for their amazing work and said “It’s good to see the young generation is getting aware of their social responsibilities and working for the noble cause like cleaning the city and painting it for new vibrant look. People should follow the spirit to make our city clean and beautiful.”

Another student, Owais Saleem said, “It’s unfair to throw every responsibility on the shoulders of the government or system, rather it is our responsibility as a citizen of a civilized society to develop a hygienic environment in Karachi.”

“The basic objective of the cleaning drive was to create awareness among the people about cleanliness as one of our major responsibilities,” added Usman Anwar, Head of the Project.

Falling crude oil price _ is it a God gifted opportunity?

Weekly Corporate Watch

Javed Mahmood OPEC crude Dec 24(


The federal government has decided to further reduce the domestic oil prices from 1st of Jan 2015 with the aim to pass on to consumers the benefit of reduction in international crude oil prices.

Up to 10 rupees per liter further reduction is expected in the prices of petrol and diesel as the crude oil price in the OPEC markets has dropped to below 57 dollars per barrel last week.

Since May 2014 the international crude oil price has decreased by slightly more than 50 percent _ a positive development that was not anticipated by the policy-makers and the analysts in the country and abroad.

We can say that it is again a God gifted opportunity for the debt-trapped poor countries like Pakistan that can help the policy-makers in this country to focus on the economic stabilization and giving relief to the masses. In 2008 the crude oil price skipped below US$40 per barrel in the backdrop of economic development, but from 2009, the prices again surged and stayed above 100 dollars/barrel for most of the time before falling gradually to 57 dollars last week.

In three phases the PML(N) government had already trimmed the domestic oil prices by 18 to 20 rupees per liter and another 8 to 10 rupees cut in oil prices would certainly be a great relief for the consumers who had suffered a lot in the past because of spike in the international oil prices.

How much benefit the Organisation of Petroleum Exporting Countries (OPEC) have taken from the spike in world oil prices can be imagined just from the example that in last four years the GDP of OPEC has ballooned by 1339 billion dollars. Crude oil and other petroleum products have increased the Gross Domestic Product (GDP) of the OPEC by 1339 billion dollars in just four years, from 2010-2013. The OPEC members GDP was at 2184.83 billion dollars in 2009 that ballooned to 3524.76 billion dollars in 2013.

Global spike in the price of crude oil and petroleum products magnified the GDP of major oil exporters like Saudi Arabia, Nigeria, United Arab Emirates, Iraq and Qatar during this period.

These days the OPEC, famous as a cartel of the oil exporting countries in the Gulf, is in trouble because of consistent decline in crude oil prices triggered by the increasing use of gas by the consumers in the developed countries.

The strategies and manipulations of the OPEC are bearing no fruits and the prices of the crude oil falling day by day.

Pakistan had been spending a huge amount of the foreign exchange, about 15 billion dollars a year, on the import of petroleum products, including crude oil. , This amount is almost one third of the total annual imports bill _ 45 billion dollars. How the Pakistan would take benefit from the phenomenon of falling crude oil prices? The policy makers and experts in the government must work on this issue to streamline the important strategy that can benefit Pakistan on short to medium term basis.

In 2015 we can see a substantial decrease in the imports of oil and overall imports bill that would lead to improvement in the trade deficit and the current account deficit of Pakistan. For example, in last financial year the country had sustained nearly 19 billion dollars trade deficit that devoured the entire amount _ 15 billion dollars of remittances, foreign investment and foreign assistance as well as the current account deficit of the country was negative by 4.5 billion dollars in FY14.

In the ongoing financial year, the current account is expected show surplus for two reasons _ sharp decrease in crude oil prices that would narrow down the trade deficit and almost zero repayment of foreign loans.

In FY14 the PML(N) government had already made repayment of record loan of about 7 billion dollars to the IMF, the World Bank, ADB and other lenders and further repayment of foreign loans now will begin in 2017.


OGRA moves against LPG artificial price-hike


ISLAMABAD: Taking cognizance of artificial increase in the price of liquefied petroleum gas (LPG), Oil and Gas Regulatory Authority (OGRA) has directed marketing companies to publish their respective price for convenience of the general public.

The Authority has directed the licensee LPG marketing companies to increase their sale-points or certified distributors in order to facilitate the end-users. OGRA has also required the companies to adhere to their license conditions and make their dealers and distributors to follow the procedures and price notifications.

A meeting urgently convened at the Authority office here decided to launch a comprehensive campaign against decanting of the LPG which is an illegal business. The Authority has asked both the LPG companies and the local administration to go against decanting in collaboration.

The representatives of the LPG marketing companies briefed the meeting that sudden increase in the demand typical of the winter season was exploited by certain profiteers.

The Authority has warned the LPG marketing companies that strict action would be taken against the defaulting company or its distributor. Repeated violation could face maximum punishment that amounts to revocation of license of a marketing company.

It is relevant to mention here that the Authority has already fined at least 17 LPG marketing companies that were found involved themselves or their distributors in unfair practices with regards to prices.

A spokesman of the Authority said that certain inspection teams were still out in the field that could pay any surprise visit to some LPG marketing company or its distributor whether a complaint or otherwise.

To a question the spokesperson said OGRA cannot determine the price of the LPG as it is the deregulated business but the companies are suppose to notify their respective reasonable price and distributors are supposed to follow that. Overcharging could cost a distributor to lose dealership of a company.


Govt to further reduce oil prices upto Rs10 from Jan 1

ISLAMABAD: The federal government is considering to further reduce up to 10 rupees per liter the price of petrol and diesel from Jan 1, 2015, because of more decline in the OPEC crude oil.

OPEC crude Dec 24

This week the OPEC crude oil price has dropped to 56.70 dollars/barrels (from 107 to 109 dollars in March/April 2014. So far the crude oil price has dropped by more than 50 percent and the government had already reduced petrol and diesel price by 18 to 20 rupees per liter in three phases in recent months.

Unexpected massive decline in international crude oil price had not only provided a pleasant relief to the consumers but this phenomenon would also reduce the oil import bill from US$15 billion per annum to about US$11-12 billion dollars.

Worth noting is that the Prime Minister Nawaz Sharif and PEMRA announced about 2.97 rupees reduction in per unit price of the electricity, but the Finance Minister Ishaq Dar yesterday said that the govt would not reduce the power tariff and instead adjust  it against subsidies.

In other words, the consumers would neither get benefit of reduced power tariff, fare of trains, public transport and domestic airlines.

Vadiyya appointed new Chairperson of Competition Commission

VadiyaISLAMABAD, 23 DECEMBER 2014: The Federal Government has appointed Ms. Vadiyya Khalil as Chairperson of the Competition Commission of Pakistan (CCP) with immediate effect for a period of three years.

Ms. Khalil has previously served as a Member CCP from 2010 to 2013 where she was overseeing the Mergers & Acquisitions and Advocacy functions of the Commission. She has over 20 years of rich experience in corporate and commercial banking at international and national banks including Credit Agricole, ANZ Grindlys, MCB Bank Limited, Askari Commercial Bank and  National Bank of Pakistan.

She has a Masters Degree in Management Sciences from University of Kent, UK specializing in Corporate Strategy, Operations Research, Techniques of Management, Marketing and Global modeling. In addition Ms. Khalil has studied Italian language and Literature at the University of Perugia, Italy and holds a Diploma in French from Alliance Francaise.

The appointment of Ms. Vadiyya Khalil and Ikram Ul Haq Qureshi as Members of CCP on 17 December 2014 brings the number of Members from 3 to 5, which is in conformity with the Competition Act, 2010.


Mr. Qureshi has a diverse experience of over 20 years in the fields of law, administration and regulatory affairs. Mr. Qureshi was previously serving as the Director General (Legal) and Registrar of CCP. He headed the Legal Department at the CCP as well as the Office of Fair Trading. He was also entrusted Corporate Affairs Division of the CCP. He has been a pivotal part of the CCP team and has assisted the CCP in various policy matters regarding the state of competition in various sectors, and strengthening administrative and procedural regulations ranging from conduct of proceedings and consideration of pre-merger approvals by the CCP.

Mr. Qureshi’s legal qualification (LL.M in Corporate Laws, and a degree in Criminal Justice from USA) affords him a keen insight in to legal and regulatory matters to better appreciate and assist the business community in realizing its potential for the eventual benefit of the state economy. His prior public sector experience includes responsible positions at the Securities and Exchange Commission of Pakistan, Senior Legal Advisor to the Federal Government’s Infrastructure Project Development Facility (IPDF).

End of PTI sit-in, IMF’s $1.05b to spur growth

Weekly Corporate Watch

Javed Mahmood/


KSE Dec 23

As the nation is gradually coming out of the trauma and shock of Peshawar tragedy, the Pakistan Tehrik-e-Insaf (PTI) decision to end the politics of confrontation, sit-ins and the approval of $1.05 billion loan by the executive board of the International Monetary Fund last week would pave way for the gradual but steady growth in the economy of Pakistan.

Yesterday the State Bank of Pakistan had received the amount of loan approved by the IMF board.

We can say that with the start of new year, 2015, the country now will begin its smooth journey towards growth and stability.

The nation’s unanimous support to the elimination of all types of Taliban _ good or bad _ after barbaric attack on the school-children of the Army Public School in Peshawar has also given a new strength and courage to the government and the armed forces who would use all the available resources to get rid of the Taliban and their supporters.

Karachi Stock Exchange suffered a big blow on the day the terrorists attacked the school in Peshawar and the KSE shed 813 points in a single day.

However, when the people of Pakistan showed their unanimous resolve to combat the terrorists and the PTI ended its dharna, the stock market that mourned the Peshawar tragedy for three consecutive days, showed recovery in its trading in last two trading days of the previous week and gained more than 350 points.

In next few days the economic activities would start their smooth sailing, leaving behind the shocks and depressions of the year 2014.

After stock market, the real estate is the second indicator that responds to the business friendly environment. This sector remained under stress from the launching of the long march and sit-ins.

It is expected that the year 2015 would infuse a new spirit into the real estate and take it to the new heights of activities.

As the political scenario has turned into the favour of the government, the PML(N) and other parties that are in power in Sindh, KPK and Balochistan should now focus on the social and economic development of their provinces and country.

The unexpected sharp depreciation in the international crude oil prices would empower the government to reduce the current account deficit, trade deficit and stabilize the foreign exchange reserves, dollar-rupee exchange rate and promote the exports, foreign investment, privatisation and employment.

At present the country is sustaining about 2.2 billion dollars average trade deficit every month which is not good for the stability of the reserves and exchange rate. The government should sit with the stakeholders to enhance exports, pace up privatization and reduce the foreign trade gap to make the economy of the country stronger.