UK-Pakistan trade, economic ties to gain more momentum: Thomas

british-hc-thomas

Harris Javed/ISLAMABAD: The British High Commissioner Mr Thomas Drew said the UK-Pakistan trade and economic ties would gain more momentum.

He stated this today in his meeting with Finance Minister Senator Muhammad Ishaq Dar in Islamabad. British High Commissioner called on the Finance Minister Senator Mohammad Ishaq Dar along with Ms. Louise Walker Head of DFID, Pakistan.

He congratulated the Finance Minister on the successful completion of the IMF program. The High Commissioner stated that there was considerable untapped potential to increase bilateral trade and investment between Pakistan and the UK. He assured that Post-Brexit, the UK would maintain its facilitates offered to Pakistan and the economic ties would be further strengthened through deeper bilateral trade and investment agreements.

He said that Pakistan had a sizeable market, UK enjoyed strong political relations with Pakistan and both these factors would enable Pakistan-UK trade talks to gain momentum. The High Commissioner appreciated the structural reforms undertaken by the government in the energy and financial sectors.

The Finance Minister briefed the High Commissioner about the reform and consolidation process Pakistan is passing through. He said that our objective is to achieve inclusion of the unserved people and assure sustainability of the current momentum of economic growth and consolidation. He said that Pakistan has already made considerable progress in the areas of economy, energy, and security. The Minister appreciated Pakistan’s relation with UK and hoped to strengthen the relations further.

The Finance Minister appreciated the development partnership with DFID and said that he looked forward to continuing this partnership.

Senior officials of the Ministry of Finance and Economic Affairs Division attended the meeting.

Iranian warships reach Karachi for joint exercises PASSEX with Pak Navy

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Corporate Ambassador/KARACHI: Iranian Naval Ships LAVAN, KONARAK, FALAKHEN and KHANJAR arrived Karachi today on a 3 days port visit.

The visiting ships were received by officials of Pakistan Navy and Iranian diplomats. During the visit, the officers and men of Iranian Navy Ships will have professional discussions and interactions with their counterparts in Pakistan Navy on subjects of mutual interest.

iranian-warship2

Moreover, operational training activities, exchange of visits by naval personnel and sports activities are also planned. After the stay at Karachi, a Passage Exercise (PASSEX) will be conducted at sea to improve interoperability between the two Navies.

In line with Government policies, the current visit will help promote peace and security in the region and enhance maritime collaboration between the two countries.

 

Shainal Foods gets show-cause for imitating National Foods brand

 

national-foods-products

Images of multiple food products of National Foods Ltd, Pakistan’s renowned brand in quality of products.

Harris Javed, Corporate Ambassador/ISLAMABAD: The Competition Commission of Pakistan (CCP) has issued a show cause notice on Sept 27, 2016 under Section 30 of the Competition Act, 2010 to M/s Shainal Al-Syed Foods for prima facie imitating the branding of National Foods Limited, in violation of Section 10 of the Competition Act.

National Foods Limited is Pakistan’s renowned brand famous for the quality of its food products. The CCP conducted an enquiry after receiving complaint from National Foods Limited alleging that Shainal Foods was preparing, packing, marketing, supplying and selling various food products using a trademark and logo imitated from National Foods.

The company also informed that the colour scheme and design of the packaging of Shainal Foods’ products was similar to that of the packaging of National Foods’ products, which could mislead the consumers.

The enquiry report concluded that prima facie Shainal Foods has resorted to the fraudulent use of logo, packaging, colour scheme, and design of National Food’s products, thus potentially harming the business interest of National Foods as well as misleading the consumers. CCP has directed Shainal Foods to reply in writing to the show cause notice within 14 days.

CCP is empowered under the Competition Act to inter alia prevent deceptive marketing practices to protect consumers and businesses from anti-competitive activities.

 

Call for 6th Corporate Ambassador Awards’ nominations

Weekly Corporate Ambassador is going to hold its 6th CA Awards in Karachi in Oct/Nov 2016 to give awards to companies, organisations, institutions, NGOs and individual professionals having achievements in any field.

Here is Promo of the 6th Corporate Ambassador Awards that carries glimpses of previous awards.

6th-awards-promo

Here are links of previous awards (4th & 5th) to give you an insight about our awards programme. Interested organisations and professionals can send their nominations to jchoudhry63@gmail.com

Nomination fee/charges will be received only from the candidates short-listed for the awards. We have a long list of companies/organisations and individual professionals who have received this award in previous programmes.

Links of 4th & 5th Corporate Ambassador Awards

4th Corporate Ambassador Awards

https://weeklycorporateambassador.wordpress.com/2016/01/23/4th-corporate-ambassador-award-turns-into-a-marvelous-show/

https://weeklycorporateambassador.wordpress.com/2016/02/07/winners-of-4th-corporateambassador-awards/

https://weeklycorporateambassador.wordpress.com/2016/02/02/4th-corporateambassador-awards-on-facebook/

5th Corporate Ambassador Awards

https://weeklycorporateambassador.wordpress.com/2016/07/21/winners-eminent-guests-of-5th-corporate-ambassador-awards/

https://weeklycorporateambassador.wordpress.com/2016/08/03/5th-corporate-ambassador-awards-full-coverage/

 

NBP signs accord with UnionPay to launch Pre-paid, Debit cards

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Corporate Ambassador/URUMQI CHINA: A signing ceremony was held between National Bank of Pakistan and UnionPay International during the mega conference of Silk Road Forum in Urumqi, China, between National Bank of Pakistan (NBP) and Union Pay International (UPI).

The agreement was signed in the presence of distinguished guests from Chinese Regulators, State Bank of Pakistan and senior management representatives of multiple partner countries of China Silk Road Forum.

From NBP and UPI, senior managements were present including Syed Ahmed Iqbal Ashraf – President, Mudassir H. Khan – SEVP/Group Chief CRBG, Azfar Jamal –EVP/Head – Payment Services, Nabeel Aslam – Head of Debit Card from NBP side and; GE Huayong, Chairman, China UnionPay and Han Wang – GM UPI Middle East, Nadeem Haroon – Country Manager Pakistan and Kashif Ali – Manager UPI.This signing would enable NBP to launch Union Pay branded Debit and Prepaid Cards allowing customers to conduct transactions at over 35 million merchants globally as well as 2 million ATMs worldwide and 10 million online sites.

 

After the ceremony Mr. Syed Ahmed Iqbal Ashraf stated that National Bank envisions multiple opportunities to promote financial inclusion through new technologies, and through that; drive inclusive and sustainable growth of economy. We believe that combining the strengths of Unionpay and NBP together can take us closer to our vision. NBP strongly believes in collaborations and leveraging of services to create new paradigms in financial services within the country. NBP now aims to develop an Eco-system in collaboration with all market players to deliver financial products, especially P2G & G2P services.

 

On the occasion, Mr. GeHuayong, Chairman of China UnionPay said, “the implementation of the Belt and Road Initiative has substantially promoted UnionPay’s expansion in Pakistan. First, UnionPay’s acceptance scope is expanding rapidly, meeting the payment demand of UnionPay cardholders visiting the market. Pakistan is also the first market outside mainland China that has launched UnionPaym POS service. Second, UnionPay is accelerating its localization in Pakistan. In the future, we will deepen our cooperation with National Bank of Pakistan to optimize our service system and to provide more payment convenience for the personnel exchanges between China and Pakistan.”

 

Talking at the forum, Mr. Mudassir H. KhanSEVP/ Group Chief CRBG of NBP,said “The Digital Financial Services industry in Pakistan started its actual journey back in 2009 and has now reached a stage where it needs to be taken to the next level. NBP is playing the key role to bring the major stakeholders in partnership including Telcos, Banks and Government Institutions; by setting the goal of financial inclusion in its true sense and create the right environment for inclusive growth in the country”.

 

Samsung Note 7 explodes, causes fire in Jeep _ 35+ mishaps land Samsung in trouble

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Nathan Dornacher claims the Galaxy Note 7 caused the fire.

Jeep has burst into flames after a Samsung Galaxy Note 7 set alight when it was put on charge inside the vehicle, images suggest. The images, which indicate the Jeep fire was caused by the phone exploding, emerge as Samsung has been forced to recall 2.5 million Note 7 devices due to a fault in the battery.

It has urged owners of the £750 smart-phone to switch their devices off immediately and exchange them after reports that at least 35 of the phones overheated and broke. In the UK, it has offered to exchange the potentially dangerous Note 7 devices with new phones that have improved batteries by September 19, reports daily The Telegraph on Sept 16, 2016.

A picture of the new Galaxy Note 7 that allegedly exploded

More than 35 incidents have been reported

The pictures of the latest explosion were posted to Facebook by Nathan Dornacher, who had returned home from a yard sale with his family when the smartphone, which was left in the Jeep to allow its battery to charge, caught fire.

Dornacher said: “I head[ed] back out to the car to grab my phone which was on the charger (me and Lydia always fight over the house charger) [and] open[ed] the door [to] see flames inside.”

Nathan Dornacher shared this image of an ash-covered Galaxy Note 7 following the incident
Nathan Dornacher shared this image of an ash-covered Galaxy Note 7 following the incident.

Samsung told Fox 13 it was investigating whether it could replay the cost of the vehicle destroyed in the fire. Writing after the incident, Dornacher said: “All I want out of this is for everyone to take this recall seriously and, if you didn’t know about it, please educate yourself before it’s too late.

“I had the phone for 5 days and, not having TV or a notification, we did not know. We are safe, no one was hurt [and that is] all that matters to me.”

Samsung Halts Galaxy Note 7 Shipments Amid Reports of the Device ExplodingPlay!00:43

Th news follows a six-year-old boy being rushed to hospital in New York to be treated for burns to his body after a Samsung Galaxy Note 7caught fire in his hands.

The model is also said to be the cause of more than $1,800 AUD (£1,028) worth of damage after catching fire in a hotel room while on charge, a reddit user said.

Samsung
The user shared images of his burnt phone on Reddit claiming he had burnt his finger throwing the device to the floor from his bed.

The US Federal Aviation Administration last week warned airline passengers not to turn on or charge the new Samsung smartphones during flights.The unprecedented recall has dealt a major blow to the firm’s reputation and this morning its shares nosedived from 7.11 per cent on the Seoul stock market to 1.46 million won (£993).

Samsung, which is increasingly squeezed by Apple’s iPhone in the high-end market and Chinese rivals in the low-end segment, launched the Note 7 earlier than expected – ahead of the September 7 launch of the iPhone 7.

Hwang Min-Sung, analyst at Samsung Securities, said the fallout from the recall – which involves 2.5 million handsets distributed in 10 countries – may slash the firm’s profit later this year by more than one trillion won. Before the Korean company issued the recall, around 1 million phones had been sold, with a further 1.5 million in stores.

How to check if you have faulty Note 7 phone

On the box

Samsung is identifying its newer, safe units are with a round sticker with a blue ‘S’ on the top right corner of the box. There will also be a black box at the bottom of the same side, on the barcode sticker, to help identify safe phones.

Samsung Note-II catches fire in IndiGo flight in India

samsung-note2-on-fire

CorporateAmbassador/NEW DELHI: A Samsung Note 2 phone emitted smoke after reportedly catching fire on a Singapore-Chennai flight of IndiGo on Friday morning when the plane was about to land.

The phone was kept in the overhead bin. “The crew noticed smoke from the bin and found the device was emitting smoke after possibly catching fire. They used fire extinguishers on it,” said a spokesperson of Directorate General of Civil Aviation (DGCA).

samsung-note2

“We advise flyers to exercise caution while flying with Samsung Note devices . They should either keep these devices switched off or not travel with them,” said a DGCA spokesman.

An IndiGo statement said: “IndiGo confirms that a few passengers travelling on 6E-054 flight from Singapore to Chennai noticed the smoke smell in the cabin this morning (September 23, 2016) and immediately alerted the cabin crew on board, reports TOI.

The crew quickly identified minor smoke coming from the hat-rack of seat 23 C and simultaneously informed the pilot-in-command who further alerted the ATC of the situation on board.”

The airline added: “Taking precautionary measure, the cabin crew on priority relocated all passengers on other seats, and further observed smoke being emitted from a Samsung note 2 which was placed in the baggage (of a passenger) in the overhead bin. The crew discharged the fire extinguisher which is as per the standard operating procedures prescribed by the aircraft manufacturer, and quickly transferred the Samsung note 2 into a container filled with water in lavatory.”

A Samsung spokesperson said: “We are aware of an incident involving one of our devices. At Samsung, customer safety is our highest priority. We are in touch with relevant authorities to gather more information, and are looking into the matter.”

The aircraft made a normal landing at Chennai airport, and all passengers were deplaned as per normal procedure. The Samsung mobile will be further examined by the concerned departments. IndiGo has voluntarily informed the DGCA.
“We are thankful to passengers for their vigilance and cooperation extended to the crew on board,” the airline said.

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India’s war phobia _ who would be main loser of Pak-India war?

Special Report by Javed Mahmood, Editor Corporate Ambassador & PCNN/ISLAMABAD

Raheel Sharif

India has once again paced up phobia of war with Pakistan after Uri terrorist attack on Indian army’s camp. These days political and diplomatic tension between Pakistan and India is again at its peak because of provocative statements of Indian Prime Minister, Ministers and extremist politicians against Pakistan that can push both the countries into nuclear war.
After Uri attack, India has blamed Pakistan for this attack and Pakistan has denied it vehemently saying it a baseless and venomous propaganda of India. Now both the countries, for the third time since nuke tests in 1998, have deployed more troops on borders and also moved tanks and artillery close to border areas.

In both the countries, the issue of war has become talk of the town now. Interestingly, every time India heightens war tension and after making provocative statements and venomous campaign against Pakistan for few weeks/months, Indians give up their plan of attacking Pakistan, knowingly their neighbour is well-armed with nuclear and missile weapons that can shatter the Indians dreams, their future and the fast-growing economy.

India blames Pakistan for sponsoring non-state actors, but in his visit to Dhaka, Indian Prime Minister Narendra Modi, who is known as an extremist leader of the BJP, proudly stated that India supported Mukti Bahni in East Pakistan that led to the creation of Bangladesh.

He also stated that he himself participated in fight against Pakistan Army in East Pakistan as a volunteer with Mukti Bahni. This clearly shows that the Prime Minister of India Narendra Modi is himself an extremist, militant, a terrorist and his ambition is to create troubles for Pakistan.

Before visiting Bangladesh, Indian Prime Minister has strongly opposed the China-Pak Corridor Project when he visited China and held meeting with his Chinese counterpart, but his Chinese counterpart gave him shut-up call over CPEC.

A few months ago, Indian Information Minister said that India can strike anywhere, where it sees the threat of terrorism. He said that like Burma, India could strike inside Pakistan. Burma, however, denied late Wednesday night that Indian army attacked inside Burma and stated that Indian army carried out action on its own border.

Now once again Indians are talking about surgical strikes in Azad Kashmir and some areas of their choice in Pakistan. Below are key facts of multi-layer security of Line of Control by Indian security forces that makes clear that no one can cross this security circle to penetrate into the Indian Occupied Kashmir from AJK, Pakistan.

iok-security

Top officials of Pakistan Army held an important meeting over Indians provocative statements against Pakistan and pledged to give a befitting response to any misadventure of India. Pakistani Army Chief Gen. Raheel Sharif said the military is capable of defending every inch of its motherland.

In his Defence Day speech the chief of army staff Gen. Raheel said: “We are friend for friends and enemy for enemy”.

Now we look back to 2001-2002 Indian conspiracy in which India blamed Pakistan for Dec 2001 Mumbai attacks and deployed its armed forces along border. Pakistan also reciprocated with the same zest and deputed Army in a tit-for-tat strategy. This military stand-off continued for the six consecutive months, but India did not dare to attack Pakistan fearing a serious retaliation and backlash from the regime of Gen. Pervez Musharraf.

This was the second major military standoff between India and Pakistan following the successful detonation of nuclear devices by both countries in 1998, the other had been the Kargil War in 1999 in which Pakistani military killed thousands of Indian army personnel.

The military buildup was initiated by India after terrorist attacks on the Indian Parliament on 13 December 2001 (during which 12 people, including the five men who attacked the building, were killed). India claimed that the attacks were carried out by two Pakistan-based terror groups, but Pakistan strongly denied it. Later on, Indian officials themselves disclosed that it was a conspiracy against Pakistan and whole world witnessed that drama.

Now we discuss here as to who would be the major loser in case India imposes war on Pakistan. Pakistan is famous world over as a beggar country that gets three to four billion dollars a year from major donor agencies and the countries to meet balance of payment obligations and other purposes.

The size of Pakistan’s GDP is about 340 billion US dollars while the Indian GDP is about 1880 billion US dollars, many times larger than Pakistan. The market capitalisation of Karachi Stock Exchange these days is around 85 billion dollars while Indian stock markets capitalisation is over one trillion US dollars.
In 2014-15 the foreign trade of Pakistan mounted to about 70 billion dollars (US$ billion 25 exports & US$45 billion imports) while Exports of India in March 2015 mounted to $24 billion (just one month exports of India were equal to annual exports of Pakistan and same is the trend in imports).

The inflow of foreign investment in India in financial year 2016 could cross $60 billion, while Pakistan has received only about US$O.8O billion foreign investment in FY2016. In financial year 2015/16, India received US$70 billion remittances while Pakistan received only US$20 billion remittances from overseas expatriates.

So the war between the two countries could put at stake billions of dollars foreign investment in India and war could put a full stop on the inflow of foreign investment in India in future.

Pakistan’s foreign exchange reserves are over and above US$20 billion in Sept 2016 and Indian reserves stand above US$367 billion dollars by Aug 19, 2016. Like big difference in the economy of the two countries, there is also a wide gap in the size of population in Pakistan and India. Population in Pakistan is about 200 million while India hosts over 1.25 billion people.

As India is much larger than Pakistan in size, economy, population and wealth, it is understood that the Indians will suffer greater losses in case of war with Pakistan.
For example, if a missile or bomb kills 10 people in Pakistan, the matching retaliation would lead to 200 or more killings in India in one incident because of the bigger size of the population.

Similarly, if Pakistan suffers one million dollars worth loss or more in one incident of war, India would lose more than 100 million dollars, or much more than it. As Pakistan is also a nuclear power, India must not under-estimate the defence deterrence and capability of this country.
Political and defence analysts say that war between Pakistan and India could shatter the Indian dream of becoming regional economic in future. Even Indians too have sounded this feeling and they have asked their government in 2001-2002 and in 2008 as well to use the tactic of pressure, instead of direct war.
Analysts also say that at this time war would benefit Pakistan as the government could pull-out all its forces pitched against local militants and the armed forces and militants can struggle jointly for the survival of the country and to teach a long-lasting lesson to the arch rival neighbouring country.

It is a known fact that Pakistan is a renowned beggar country and the beggars lose nothing in war or fight. Because like past Pakistan would continue to receive 3-4 billion dollars annual loans/assistance from the international donor agencies and countries in future. But the misadventure of a full-scale war (that can ultimately convert into nuclear war) could turn India into a beggar country too.

New war could also throw India into the club of high-risk countries, leading to an unbelievable loss to her economy, foreign investment, multi-national companies, mega companies and capital markets.

Instead of hurling threats on Pakistan and using provocative language and statements against Pakistan, India should give attention to her own diehard extremists, separatists and those who killed Indian ATS Chief Karkare during Mumbai carnage, the man who expose the involvement of Indian Colonel in the Samjhota Express carnage.
India should also weed out black sheep in her Armed Forces because the involvement of Indian Army Colonel in the Samjhota Express case had not only exposed the Indian army but defamed it at all forums.

Worth to note is that more than 64,000 Indians have fallen prey to India’s own extremism since 1994 and the extremists party of India, BJP and its extremist Prime Minister Narendra Modi must show sane attitude to save millions of people who can become victims of new war between the two nuclear powers.

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JETRO rates Pakistan highest among 20 nations for Japanese investment

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Corporate Ambassador/ISLAMABAD: Japan External Trade Organization is holding  Japan Trade Fair in Karachi in 2016 as JETRO has rated Pakistan the highest among 20 countries/regions for short-term future investment for Japanese investors and companies.

President JETRO Mr. Yasushi Akahoshi pointed out this in his meeting with Finance Minister Senator Muhammad Ishaq Dar in Islamabad on Sept 24, 2016. JETRO’s President lauded Pakistan government’s efforts on economic growth and development and congratulated on successful completion of the IMF program.

japan-ambassador

He said that JETRO is encouraging Japanese investors and entrepreneurs to visit Pakistan for expansion of their business. According to a JETRO survey, Japanese companies, for their future expansion plans of 1 to 2 years, rate Pakistan the highest among 20 countries/regions for investment.

Mr Takashi Kurai, Ambassador for Japan to Pakistan also accompanied the JETRO’s delegation.

The Finance Minister welcomed the delegation and noted that Pakistan has very old and established business and political relations with Japan. He apprised the delegation on the economic reform process undertaken by the government and that it was bearing fruit in the shape of revived interest of foreign investors in Pakistan and recognition from the international business community.

The Finance Minister appreciated the Japanese investments in auto industry and invited Japanese companies to invest further in Pakistan. The Finance Minister appreciated the contribution of JETRO for brining Japanese investment in Pakistan.

Finance Minister informed the delegation that the investment climate in Pakistan has received a boost due to the significant improvement in law and order condition in the country. He said that Pakistan has abolished visa fees for Japanese businessmen and urged the Japanese government to remove its travel advisory for Pakistan so that bilateral business can be further facilitated. The Minister also informed that Pakistan would facilitate setting up of a Special Economic Zone for Japanese companies in Pakistan and urged JETRO to work with BOI to further explore this mutually beneficial opportunity.

 

Both sides agreed to work together to further increase bilateral trade and business. Senior officials of the FBR, Ministry of Commerce, EAD and Ministry of Finance attended the meeting.

China to stand with Pakistan in case of war with India

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Corporate Ambassador/LAHORE: In the wake of rising tension between Pakistan-India, China has assured its full support to Pakistan in case of any foreign aggression and also supported Pakistan’s stance on the Kashmir dispute, according to a press release issued by the Punjab Chief Minister Office.

“In case of any [foreign] aggression our country will extend its full support to Pakistan,” Consul General of China in Lahore Yu Boren was quoted as saying by the CM Office on Friday.

Beijing conveyed the message during a meeting of its top diplomat in the provincial capital with Chief Minister Shahbaz Sharif. “We’re and will be siding with Pakistan on Kashmir issue…There is no justification for atrocities on unarmed Kashmiris in…(India-held) Kashmir and the Kashmir dispute should be solved in accordance with aspirations of the Kashmiris,” said the press release.

Mr Yu, who called on Shahbaz Sharif to felicitate the latter on his 65th birthday, discussed with the chief minister the situation developing in held Kashmir and the progress being made on various projects under the China-Pakistan Economic Corridor (CPEC).

According to the CM Office, a portion of the CPEC involves a part of the disputed region. Referring to the support Beijing has been extending to Islamabad at all international forums, the diplomat reportedly said his country would continue supporting Pakistan through thick and thin.