NBP, Engro, LDA & Serving Hands serve needy people in Hawksbay, Karachi

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Corporate Ambassador/KARACHI: Serving Hands Organization, Engro Foundation & National Bank of Pakistan in collaboration with Layari Development Authority (LDA), Karachi Union of Journalist (KUJ), Pamco logistic, Khan group of companies and Universal iInformation system organized Ramadan Mega Relief Free Medical Camp at LDA Sales Centre near Journalist Society Hwksbay scheme 42 bl-3A to facilitate the neighboring poor villages of Musharaf colony, Bhootni goth, Benazir 500 Quarters scheme, Lashkari goth etc.

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Honourable Dr. Badar Jamil DG, LDA inaugurated this Mega Relief Medical camp where 1200 patients were treated and Multi National companies costly medicines were distributed free of cost by expert Doctors and medical staff. DG LDA said, this is a great effort of Serving Hands in the great month of Holy Ramadan to provide little relief to these poor ‘Hands to Mouth’ families of our neglected society. Dr. Badar Jamil furthermore added that LDA is standing with Serving Hands Organization for this noble cause and will inshaAllah provide Serving Hands a permanent community shelter to continue this essential medical service to poor patients. DG Dr. Badar jamil,

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Dr. Sikandar Ali President (SHO) G.Secretary Ahmad Khan Malik (KUJ) and Syed Ibne Hassan Vice President/ Spokesman’s NBP also distributed over 100s of Rashan bags along with Eid special suits to the needy families. President SHO Dr. Sikandar Ali and G. Secretary Arshad Anwar promissed to continue these camps and free medical servises of their team to the suffering community in the poor areas of Sindh.

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Serving Hands Organizatin team also thanked to Mr. Aman Ul Haque Engro Foundation, Group Head Shaukat Mahmood, CSR Head Iqba Wahid of NBP, Mr. Nasir Razi (Scotland), Mr. Yashab Tamanna (UK), Mr. Asad Khan (USA), Mr. Ahsan (USA) and Mr. Zafar Khan (Dubai) for their valuable financial support to this noble cause.

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NBP reports 15% growth in pre-tax profit in 1st Quarter of 2019

nbp ho image with new logo

Corporate Ambassador/KARACHI: National Bank of Pakistan has reported 15th percent growth in its pre-tax profit for the first quarter of 2019. During this quarter, the pre-tax profit of the Bank amounted to PKR 8.7 billion as against PKR 7.6 billion for the corresponding quarter of 2018, registering an increase of 15.3%. After-tax profit for the period under review amounted to PKR 4.2 billion being 14.5% lower than PKR 4.9 billion earned during the corresponding period of 2018 due to imposition of super tax vide the Finance Supplementary (Second Amendment) Act 2019 for the tax year 2018 (financial year ended December 31, 2017)Meeting of the Board of Directors (BoD) of National Bank of Pakistan (Bank) was held on May 22, 2019 at Bank’s Head Office in Karachi in which the BoD approved the financial statements of the Bank for the quarter ended March 31, 2019.

NBP President Arif Usmani1

The Bank earned mark-up/interest income amounting to PKR 45.8 billion which is 45.9% higher than PKR 31.4 billion earned during the corresponding period last year. This growth is attributed to the increase in discount rate, as well as a volumetric growth in both investment and advances, YoY. Also, the Bank’s non-mark-up/interest income increased by 40.2% YoY and amounted to PKR 8.3 billion. The Bank’s unconsolidated pre-provision profit amounted to PKR 10.98 billion which is 45.2% higher than PKR 7.6 billion for the corresponding period last year. Pre-tax profit of the Bank amounted to PKR 8.7 billion as against PKR 7.6 billion for the corresponding quarter of 2018, registering an increase of 15.3%. After-tax profit for the period under review amounted to PKR 4.2 billion being 14.5% lower than PKR 4.9 billion earned during the corresponding period of 2018 due to imposition of super tax vide the Finance Supplementary (Second Amendment) Act 2019 for the tax year 2018 (financial year ended December 31, 2017). Earnings per share amounted to PKR 1.97 as against PKR 2.30 for the corresponding quarter ended March 31, 2018.

 

Total assets of the Bank as at March 31, 2019 stood at PKR 2,401.8 billion compared to PKR 2,798.6 billion as at December 31, 2018, registering a decline of 14.2%. Gross advances of the Bank amounted to PKR 1,046.1 billion which is slightly lower than PKR 1,059.5 billion as at December 31, 2018. However, YoY, total advances stand increased by PKR 176.6 billion or 20.3% as compared to PKR 869.5 billion as of March 31, 2018. Total deposits of the Bank as of March 31, 2019 amounted to PKR 1,778.7 billion, lower by PKR 232.7 billion (11.6%) as against PKR 2,011.4 billion as of December 31, 2018. The drop was observed due to withdrawal of deposits by certain financial institutions. Customer deposits that form the core of Bank’s funding pool however remained stable.

 

Moving into its 70th year of untiring service to the Nation, the Bank remains committed to delivering exceptional results to its shareholders in years to come. Its business strategy is underpinned by a renewed focus on customer service supported by significant upgrade of its technology infrastructure which is a key enabler.

Get Online Content-Writing Training & Earn Money

Online Training 4 Content Writing

To add another feather of value-addition, weekly Corporate Ambassador is starting training of Online Content-Writing/Editing after Eid Holidays. In the past, Corporate Ambassador has organized 15 Corporate Ambassador Awards _ 11 in Karachi and four in Islamabad. In addition to this, several conferences and seminars have also been organized from this platform in collaboration with different organizations.

However, to promote employment and skill development, Corporate Ambassador is starting online content writing/editing training, initially from Karachi/Islamabad that will be expanded to other cities later on. For online training, candidates from any city can apply for training.

Candidates with strong writing power in English can apply for training as they will have to pass two tests _ one will be translation from Urdu to English and second test will be the re-writing/editing articles written in English. Basic aim of these two tests is to determine the capability of the candidates that will enable us to design training schedule as per their level of capability.

Fee will be charged from the candidates for this training so that only serious candidates participate in this important training. Fee will be charged as per the length of the training schedule _ from one week to three weeks. Successful candidates will also be facilitated with Part Time writing work, especially those with outstanding writing/editing skill. Part Time online job (Work from Home/Office) will be facilitated on the basis of goodwill gesture and it will not be mandatory/guaranteed. Candidates must have their own Computers/Laptops and internet facility to start part-time writing/editing work after completing the training.

Important to note is that we have already trained some youngsters who are already working as freelance writers, quality editors and earning money for more than a year period.

It is an ideal opportunity for those who are either jobless or want to earn additional money through online content writing and editing in English. For further information, plz send email to Mr Javed Mahmood, Editor weekly Corporate Ambassador, international writer and quality editor, having more than 15 years experience of content writing and freelance writing for different international and Pakistani organizations. So hurry up and send email at: jchoudhry63@gmail.com or contact at Whatsapp number 0334-3939029. Fee will be charged only from those candidates who clear the tests and qualify for training.

 

 

 

Mohmand Dam groundbreaking ceremony on May 2. PM to be Chief Guest

Ground breaking ceremony of Mohmand Dam is taking place on May 2, 2019, at the site. Prime Minister Imran Khan will be the Chief Guest. Water and Power Development Authority (WAPDA) had already awarded contract of this project to a consortium led by Descon Engineering of sitting commerce minister Abdul Razak Dawood. The project had been awarded at a cost of 298 billion rupees.

Mohmand Dam groundbreaking

Mohmand dam would have a gross storage capacity to store 1.9 million acre feet (MAF) water with power generation potential of 800-MW and it will irrigate around 17,000 acres of land.

 

Indian agency tracing links of Sri Lankan bombers having links with India

Inidian NIA raids for Sri Lankan bombers

Corporate Ambassador Monitoring Report/National Investigation Agency (NIA) has searched the houses of at least four people in north Kerala as part of the international probe into the Easter Day suicide bombings in Sri Lanka.

The NIA appeared to have raided some residences in Kasargod and Palakkad after evidence emerged that the targets of their probe had avidly followed on social media Zahran Hashim, the architect of the attacks that claimed hundreds of lives. Meanwhile, daily The Hindu had already reported that the master-mind of the Sri Lankan attacks Zehran Hashim had visited India many a times and spent a substantial time in India. International media reports are claiming that Indian secret agencies have facilitated the terrorist group in Sri Lanka to carry out attacks on churches and hotels with the purpose to defame Islam. The NIA also appeared to have factored in reports that Hashim, the terror mastermind, had travelled widely in India. Hence, his itinerary, contacts and places of stay were currently subjects of interest for the agency.

However, it did not stop NIA agents from swooping down on the houses of the potential suspects at Kaliyangad and Nayanmarmoola in Kasargod and Adavumaram and Muthalamada in Palakkad. Officials said the agency summoned the suspects to their office in Kochi for further questioning. According to officials, the NIA appeared to be investigating whether there was any correlation between the attacks in Sri Lanka and radical activity in mainland India.

They said coastal States in South India, including Kerala, were not immune from upheavals in the island nation, given the sizeable Tamil population whose security concerns often dovetail with their counterparts in Sri Lanka.

 

Devaluation shoots up Bhasha Dam cost by Rs 322 billion

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B J. Choudhry/ISAMABAD: The cost of Diamir Bhasha Dam and Hydropower Project has surged by 322 billion rupees merely because of the devaluation of rupee by the incumbent government of Pakistan Tehrik-e-Insaf.

The estimated cost of this dam is $14 billion. It amounted to 1624 billion rupees when the PTI came into power. However, after devaluation the cost of this mega dam and hydropower project has shot up to 1946 billion rupees. That too in case the dollar-rupee exchange rate remains stable, at existing inter-bank rate of 139 rupees _ which seems impossible as we can see more devaluation in coming months and years. Diamir Bhasha Dam will be completed in seven years, from the date work on this mega project will be initiated. And it is understood that keeping in view the historical trend of devaluation, in next seven years, we will see more devaluation of rupees that will further magnify the cost of the project.

bhasha dam

Importantly, the government and the Supreme Court’s Chief Justice Fund for Mohmand and Bhasha Dams have received around 10 billion rupees worth donation _ whereas, the government needed around 2000 billion rupees just for Bhasha Dam.

However, in the case of Mohmand Dam, its cost is expected to remain the same – Rs 298 billion as the contract of the project had already been award to a consortium led by Descon Engineering company of sitting commerce minister Abdul Razzak Dawood. This is much smaller project in comparison with Bhasha Dam.

Mohmand dam would have a gross storage capacity to store 1.9 million acre feet (MAF) water with power generation potential of 800MW and it will irrigate around 17,000 acres of land.

Bhasha Dam salient features

Bhasha Dam is a gravity dam, in the preliminary stages of construction, on the River Indus in Gilgit-BaltistanPakistan. Upon completion, Diamer-Bhasha Dam would be the highest RCC dam in the world. The dam site is situated near a place called “Bhasha” in Gilgit-Baltistan’s Diamer District, hence the name. Diamer-Bhasha Dam would (i) produce 4,500 megawatts of electricity through environmentally clean hydropower generation; (ii) store an extra 8,500,000 acre feet (10.5 km) of water for Pakistan that would be used for irrigation and drinking; (iii) extend the life of Tarbela Dam located downstream by 35 years; and (iv) control flood damage by the River Indus downstream during high floods.

It will have a height of 272 meters spillway with fourteen gates each 11.5 m x 16.24 m. The gross capacity of the reservoir will be 8,100,000 acre feet (10.0 km), with a live storage of 6,400,000 acre feet (7.9 km). Two underground power houses are being proposed, one on each side of the main dam having six turbines on each side with total installed capacity 4500 MW.

For feedback please send email to the writer at: jchoudhry63@gmail.com (Chief Editor Weekly Corporate Ambassador, Karachi/Islamabad).

NOTE: For more info, please see this earlier story.

https://weeklycorporateambassador.wordpress.com/2015/08/05/diamir-bhasha-dam-16-years-gone-land-still-not-purchased

 

Serving Needy people is my passion: Dr Afrozia

SUCCESS STORY OF A COURAGEOUS WOMAN-LEADER

Dr Afrozia Tabassum, Chairperson of Tabbo Welfare Society in Karachi (third from right) is being welcomed at 15th Corporate Ambassador Awards, organized recently in Karachi. Quratul Ain Kalhoro, Syed Turab Shah, Dr Afrozia, Javed Mahmood, Rozina Jalal, Ms Naveen and Syed Amin-Ullah Hussain, CEO AJ Sports are seen in this group photo. She was honoured with Health Care & Social Welfare Icon Award.

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J. Choudhry/KARACHI: Serving the needy people in the society of the mission of my life. Chairperson and Founder of Tabbo Welfare Association in Karachi Dr Afrozia Tabbassum said this while talking to Corporate Ambassador.

Tabbo Welfare Society is serving the poor and deserving people since 2006. In other words, the social welfare organization of Dr Afrozia has completed 12 years of serving thousands of the people in Karachi.

Dr Afrozia

Tabbo Welfare Society is running a school for children up to class-8 while a stitching center is also working to give training to the deserving women to learn the skill of stitching to earn their livelihood in respectable manner. In addition to this, Dr Afrozia is running a hospital in New Nazimabad area, near Sakhi Hassan and Manghopir area in Karachi. In this hospital, poor patients are getting free treatment _ medical checkup and medicines, with payment of just Rs 50 registration fee.

“We are giving free medicines, injection to the poor patients who are not in a position to buy medicines,” Dr Afrozia said. She said that up to 50 patients are visiting the hospital every day. Chairperson of Tabbo Welfare Society further stated that her hospital is offering normal delivery operations at just minimum cost _ Rs 2000 to 3000 per patient. However, these charges are also exempted in case the patient is not in a position to pay it. She said that the private hospitals are charging thousands of rupees for each normal delivery, but the motto of her hospital is to service the needy patients with commitment, dedication and without the greed of minting money.

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Dr Afrozia further stated that the Tabbo Welfare Society’s school is charging just 200 to 300 rupees per month fee from the student that was like nothing when compared with the private schools that are extorting thousands of rupees as fee from each and every student.

She further said that her society was also providing food items free of cost to the poor families. Dr Afrozia also said that she often arranged “Dastar Khwaan” as well to serve free meals to the needy people in the area.

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She also said that Tabbo Welfare Society has organized several walks and rallies to create awareness against drugs addiction in the society and its spoiling impacts of families of the addicted persons.

Chairperson of Tabbo Society said that she wanted to expand the scope of serving the maximum number of the people for which she is looking for donations from rich persons and big donors, including the organizations.

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Meanwhile, the mission of the Tabbo Welfare Society also included focus on alleviating poverty and social inclusion of the deserving people. “We do this through well-planned and comprehensive programs in health, education, livelihoods and disaster preparedness and response,” she said. We also focus on generating and sharing knowledge with diverse stakeholders to influence sustainable impact at scale. Our overall goal is the empowerment of People from poor and marginalized communities, leading to improvement in their lives and livelihoods.

Tabbo Welfare Society believes in helping individuals to lead their life  with dignity. To achieve this, our livelihood programmes focus on generating sustainable livelihoods. This is done through capacity building, fostering community links and promoting small businesses.

Dr Afrozia Tabassum further explained that her Society also focuses on improving the conditions by which persons, especially those in the marginalized communities can access quality education. Education is an important tool that enables Persons to participate in decisions that affect their lives and in improving their social status, she added.

Tabbo Welfare Society works in close collaboration with State Government and other partner organizations to secure accessible and quality maternal and healthcare services among marginalized communities.

Meanwhile, a roof over their heads is a critical need of the elders who are destitute, sick and abandoned by family and those uprooted by disasters. Tabbo Welfare Society has established model homes for the senior citizens and aged in many places, she said.

Regarding addiction of drugs, she said that the drugs addicted not only spoil their own lives, but they also put others around them at risk as well. Tabbo Welfare Society anti-drug education initiative helps individuals to understand the hazards of addiction and it explains the exact effects of drugs on a person’s mind and body.

Tabbo Welfare Society was founded with a focus on domestic violence and human trafficking. The organization has since expanded its counseling, shelter, campaign and research activities to the areas of child and woman abuse and protection

Alleviation Poverty

Tabbo Welfare Trust mostly focus in poverty to alleviate poverty through education and awareness programs.

“We are also giving financial support to families for marriage of their daughters,” she added.

Tabbo Welfare Society gives awareness of education to poor families and help them to provide quality education for them children. Education is the most powerful weapon which you can use to change the world and the most effective way to break out of the cycle of poverty.  children are not only deprived of their right to receive an education but they lose their childhood to earn bread for a living.

Here are the important priorities of Tabbo Welfare Society in Karachi:

  • To educate the masses and spread literacy, particularly among women, in order to bring about a sustainable change in the society.
  • To focus toward future self-employment with the hope of breaking the cycle of ongoing dependency, while giving immediate assistance to families in the current crisis.
  • Tabbo Welfare Society makes an effort to support families in these difficult situations by providing basic items necessary for newlywed girls, including dresses, shoes, utensils, bedding, fans, sewing machines, and more, along with some financial assistance to offset marriage expenses.
  • Tabbo Welfare Society drug education helps individuals fully understand the mechanics of addiction and explains the exact effects of drugs on a person’s mind and body.
  • Sick and abandoned by family and those who uprooted by disasters for Those Persons Tabbo Welfare Society has established model homes in many places.

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$4 Billion decline reported in Current Account Deficit

Current account deficit

Corporate Ambassador/KARACHI: State Bank of Pakistan has reported $4 billion decline in the current account deficit in nine months of the ongoing financial year. From July-March 2018-19, Pakistan has sustained $9.58 billion dollars current account deficit, whereas, in the corresponding period of last financial year this deficit was around $13.58 billion.

Slowdown in the economic development, government’s curbs on different imports has finally led to improvement in the current account deficit of the country in first nine months of 2018-19. State Bank of Pakistan’s update about balance of payment position is also attached here to share more information with the readers.

 

Foreign investment plunges to record low in 9 months in Pakistan

record low foreign investment

Corporate Ambassador/KARACHI: The inflow of foreign investment in Pakistan has dropped to the record low level in first nine months of financial year 2018-19. From July 2018- to March 2019, Pakistan has received only 873 million dollars total foreign investment, compared to 4.95 billion dollars in the corresponding period in 2017-18. In percentage, inflow of foreign investment reflects a massive 82.4 decrease in nine months of the ongoing financial year. In monetary terms, the investment has declined by 4.8 billion dollars during July-March period of 2018-19. State Bank of Pakistan has mentioned this in its latest update of foreign investment that was circulated on Wednesday (April 18, 2019).

This indicates that the country is still waiting for much-awaited foreign investment from Saudi Arabia, United Arab Emirates, China and other countries, with whom MoUs have already been signed for massive foreign investment. It is expected that in next financial year, 2019-20, the MoUs signed with different countries would lead to increase in inflow of foreign investment in Pakistan. Thus, the financial year 2018-19, will be considered the worst year as far as the inflow of foreign investment is concerned.

The riddle of a defeat: Why IRGC has been proscribed?

Iranian Guards

Corporate Ambassador/ISLAMABAD: Iranian Ambassador in Islamabad has said that on February 8, 2019, Donald Trump president of the United States, announced in another irresponsible and preposterous move, the designation of Iran’s Islamic Revolution Guards Corps (IRGC) as a “foreign terrorist organization.” This action which is considered for most of the international community as a senseless, provocative and inconceivable one, could open a Pandora’s box and result in a more complicated situation in Middle East. People and government of Iran who have a long history of resistance and defiance towards bully approaches of US, reacted to this decision outrageously.

Iranian Ambassador said that for some people there is an ambiguity that why US state department decided to do so while Pentagon declined to comment on this risky decision and many other decision maker departments also were still indecisive about that!  To decipherer the reasons and consequences of such unprecedented and internationally illegal decision, some aspects of this decision are mentioned here:

 

  1. Interventionism: since revolution in 1979 in Iran, many equations changed in the region. The revolution inspired movements in the region conformed neither to US policies nor to the authoritarian regimes in the region. So the agenda for Regime Change in Iran became a perpetual present option on the table of hawkish decision makers in the US. During the 4 previous decades, US relentlessly Endeavored to subjugate the independent and non reliant government of Iran; In this context, many malicious plans like flaring up the tensions between Persian Gulf countries with Iran, implicitly forcing other countries to limit their economic transactions with Iran, provoking an illusion of Iranophobia brought forward against Iran that none of them reached to their destined purposes. This failure, that went more complicated with the American defeated policies in Syria, Afghanistan, Iraq, Yemen and etc, gradually damaged the reputation of a self proclaimed Super Power in the world.  To cover these scandalous debacles up, Trump and some of his warmonger advisors defined IRGC as the main reason of US policy failures in the region. A claim that is neither right nor rational. Naming and shaming of IRGC that is a part of Iranian national defense force, is a blatant infringement of Iran’s national sovereignty.

 

  1. Unilateralism: during the recent years, US has devoted to many efforts to make an international coalition against Iran. Different motions for terrorist calling of IRGC and the unit of Quds Force had also been introduced by the US and some of its seduced allies in UNSC and UNHRC that found no way to succeed. The noncompliance of other countries with such politically motivated motions was because of a wisdom oriented mindset; they know the fact that IRGC was a part of a State that internationally cosponsoring its proscription was not only ridiculous and unprecedented but could found a new realm of Double Standards in United Nations, that one day could be applied for theirs as well. In this context, the repeated defeat of US in multilateral arena, forced this country to resort to another act of unilateralism. A decision that didn’t have enough supporters even at home!

 

  1. Legality: IRGC is a part of Iran’s defense structure. Any country in the world is entitled to define and strengthen its defensive body according to its benefits and presumed threats.  The US decision in terrorist calling of IRGC, which is intended to weaken the defensive and military prowess of Iran, is a clear violation of article 51 of UN charter; which clarifies the right of self-defense as an inherent right for each country.

 

  1. Legitimacy: established in 1979, IRGC took the responsibility of Guarding the Islamic Revolution and its achievements. As the Revolution was a people-oriented one, most of the Iranians were eager to be a part of this Guardian Corp. In this regard, the participation of people in IRGC was defined in the context of Basij (Niruyeh Moghavemat Basij) which was totally voluntary and un  Today about 35 million Iranians privilege the membership of Basij that means about half of the total population in Iran. Proscription of IRGC and its sections by US is a clear insult to the civilians of a country.

 

  1. Right to development: according to the United Nations Declaration on the Right to Development (Adopted by General Assembly resolution 41/128 of 4 December 1986), International Covenant on Economic, Social and Cultural Rights, UNSDGs and many other international documents, development is an inalienable human right by virtue of which every human person and all peoples are entitled to participate in, contribute to, and enjoy economic, social, cultural and political development. After the invasion of Iraq to Iran in 1980 and its 8 years endured war, the noose around Iran’s economy tightened more than ever. In this context, IRGC that had a deep roots in people started to develop the local industries and flourish native talents. In this context, Khatam-al Anbiya Construction Headquarter was established to help the country to rebuild the war – resulted destructions. Hundreds of hospitals, schools, bridges, dams, house for villegers and etc were constructed by this Headquarter while government and profitable corporations because of huge difficulties couldn’t do them.  Eradication of structural poverty was another function of this Headquarter. Due to the membership of graduated and talented people in this part, many innovations and progress achieved through this initiative. After the unfair and unjust economic sanctions on Islamic Republic of Iran, that weakened the competitiveness of Iranian companies to their foreign counterparts, the role and importance of Khatam-al Anbiya Construction Headquarter for national development came to look more essential.  US decision in terrorist calling IRGC that is added to unfair and discriminatory sanctions is a blatant violation of Iranians right to development.