By Abdul Qadir Qureshi   (Pakistan News & Features Services) The concept of public-private partnership was advocated at a seminar on Public Private Partnership, jointly organized by the Riphah Institute of Public Policy (RIPP) and the Infrastructure Project Development Facility (IPDF) at Marriott Hotel, Islamabad, on December 20.   The distinguished speakers shared their views on the subject and stressed on the need for providing a boost to public-private participation concept to promote the cause of the country's greater progress.   Senior government functionaries from different ministries, including Finance, Housing, Railways, P&D and Agriculture, also participated in the one-day policy seminar and deliberated on the possibilities of involving the private sector in infrastructure projects. They appreciated the level of knowledge displayed by the presenters and emphasized that such conferences should take place more frequently. The semina...

By Abdul Qadir Qureshi     (Pakistan News & Features Services) The General Authority of Civil Aviation (GACA), King Abdul Aziz International Airport, Saudi Arabia, has declared the Pakistan International Airlines (PIA) as the best airline operator amongst the 74 international Airlines operating from Hajj terminal, flying more than 1.7 million Hajjis in 2012.  The PIA spokesman, Syed Sultan Hasan presented the copies of the certification of 25 Zilhajj 1433H (November 10, 2012) mentioning PIA as the Best Hajj Airline Operator to a Pakistan media team visiting Saudi Arabia at Madinah.  The GACA, in the certificate issued to PIA, has noted that they closely monitored the activities of all the airlines’ operating from Hajj terminal Jeddah and considered that PIA again proved itself the best operator on the basis of regularity as well as services provided.  The GACA further said that PIA demonstrated exceptional value by overcoming the delay f...

By Abdul Qadir Qureshi (Pakistan News & Features Services) The Pakistan Reinsurance Company Limited (PRCL), rated as AA Company, has posted a net profit of Rs.925 million for the three Quarters ending September 30, 2012. The break-up of Profit & Loss Account of PRCL in Underwriting Profit in nine months having ended on September 30, 2012, is Rs.578 million, as compared to Rs.283 million during the corresponding period last year. The investment income stood at Rs.785 million as compared to Rs.747 million while the rental and other income went up from Rs.36 million to Rs.45 million. The general and administration expenses were brought down from Rs.30 million to Rs.29 million with the exchange gain being Rs.39 million compared to Rs.27 million last year. The net profit before tax and value of available for Sale Investment-write-off was Rs.1408 million as Rs.1073 million last year, less Provision for Taxation Rs.337 million to Rs.217 million...

By Abdul Qadir Qureshi ( Pakistan News & Features Services) “The Pakistani members of the Young Presidents Organization (YPO), a chapter of World Presidents Organization (WPO), together with their international counterparts, would take a leading role through which international events could be held in Pakistan and ideas shared between our government as well as private organizations to create opportunities for further development of our natural resources, energy sector, industries, agriculture and most importantly education.” This was stated by Arif Ali Shah Bukhari, Regional Member YPO while speaking at the launch of YPO Capital Pakistan at a ceremony held in Islamabad . The YPO, he pointed out, as an organization created opportunities for them and in turn allowed them to grow personally and professionally. “The YPO goal is to ensure that every member’s experience is a unique and personal journey...

By Abdul Qadir Qureshi  (Pakistan News & Features Services) Arif Ali Shah Bukhari, Regional Board Member of Young Presidents Organization (YPO), a chapter of World Presidents Organization (WPO), held a meeting with the visiting Bosnian President, Bakir Izetbegovic, in Islamabad. During exchange of views, the Bosnian President invited Arif Bukhari, to bring YPO delegation to Bosnia in order to explore business opportunities over there. They also discussed other matters of mutual interests and Arif Bukhari, founder of YPO capital, expressed his gratitude and informed the President of his best feelings for Bosnia and his plans to arrange meaningful dialogues between the top businessmen of both countries. Arif Bukhari, a Member Board of YPO MENA (Middle East & North African Region), is currently the Chapter Chair of Pakistan. He is also the Founder of YPO Indus chapter and Mentor of WPO Pakistan Chapter.

The SECP has approved various documents submitted by the stock exchanges under  the  Stock Exchanges (Corporatization, Demutualization and Integration) Act, 2012. Promulgated on May 7, 2012, the Act provides  a framework for the corporatization, demutualization and integration of the stock exchanges . The demutualization  will bring the Pakistani capital market on a par with  other international jurisdictions,  result in enhanced governance and transparency at the stock exchanges  and will attract strategic investors which will not only provide equity and technical expertise but will also result in increased visibility of these exchanges on international capital market forums. The approved documents include revaluation of assets and liabilities of the stock exchanges, plans for the segregation of commercial and regulatory functions and memorandums and articles of association of the exchanges. The SECP has also approved the authorized and p...

A meeting of the Securities and Exchange Commission of Pakistan (SECP) headed by the Chairman, Commissioner and other senior officials of SECP was held with the Board of Directors, Management and senior members of the Karachi Stock Exchange. The meeting discussed important capital market development matters and measures for enhancing activity at the Exchange by supporting retail participation. The apex and front line regulators reviewed various international best practices for the overall growth of the market and deliberated upon areas of investor protection, expansion of market outreach, new product development in equity, debt and derivative segments, activation of leverage products for improved liquidity, effective risk management and market monitoring and surveillance etc. While highlighting recent reforms in the market including revamping of capital gain tax regime, introduction of revised Code of Corporate Governance and demutualization of stock exchanges, the SECP Ch...