Karachi(Cliff News)Lucky Cement Limited reported net profit of PKR 3.02 billion for the first quarter ended September 30, 2017 which is 6.8% lower as compared to the same period last year. Consequently, the earnings per share (EPS) for the quarter was recorded at PKR 9.33 compared to PKR 10.01 reported during the same period last year. The Company also declared cash dividend of PKR 5/- per share upon fresh review of Company’s financial situation.The Company’s net sales revenue increased by 6.0% to PKR 11.20 billion compared to PKR 10.57 billion reported during the same period last year. The increase in net sales revenue was mainly attributable to increase in sales volumes.The local sales volume of the Company during the first quarter registered a growth of 14.3% to 1.54 million tons compared to 1.34 million tons reported during the same period last year, whereas export sales volume registered a decline of 25.3% to 0.27 million tons compared to 0.36 million tons reported last year.On a consolidated basis, Lucky Cement reported net profit of PKR 3.85 billion for the first quarter ended September 30, 2017 which is 1.8% higher as compared to the same period last year. Consequently, consolidated EPS attributable to the Company during the quarter increased to PKR 11.90 compared to PKR 11.69 reported during the same period last year.Lucky Cement also reported progress on its key local and international projects i.e. brown field expansion (installation of new production line) at Karachi Plant, fully integrated green field Cement Manufacturing Plant in Punjab province, investment in automobile Manufacturing plant under license from KIA Motors Corporation, brown field expansion in Cement Grinding unit in Republic of Iraq, 1 X 660 MW, supercritical coal based power project at Port Qasim.Lucky Cement’s Board also passed certain Special Resolutions, of which significant were with respect to increase of its equity investments in Kia Lucky Motors and announcement of new equity investment share in wind power project of 50 MW by the name of Yunus Wind Power Limited. In addition, the Company also made a material information disclosure of its intent to evaluate possible equity investment in another project (i.e. other than Yunus Wind Power) of 50 MW Wind farm together with other Group Companies.Lucky Cement remains committed towards value-creation for the society in which it operates. In this regard, the Company extended numerous scholarships to deserving students for various leading universities in Pakistan. Under the domain of empowering women in the country, Lucky Cement continued its support for two leading Government girls’ schools in Karachi in collaboration with Zindagi Trust. The company also donated generously towards the cause of community development by supporting CPLC.
Karachi(Cliff News)The Karachi Chamber of Commerce and Industry (KCCI) has appointed Chairmen of 16 Sub-Committees and 4 Special Committees for the year 2017-18.Chairman Businessmen Group & Former President KCCI, Siraj Kassam Teli, Vice Chairmen BMG Tahir Khaliq, Zubair Motiwala, Haroon Farooki and Anjum Nisar, President KCCI Muffasar Atta Malik, Senior Vice President KCCI Abdul Basit Abdul Razzak and Vice President KCCI M. Rehan Hanif congratulated the newly appointed chairmen of all sub-committees.They extended full support and cooperation to the Chairmen of various Sub-Committees which have been formed to facilitate the business and industrial community of Karachi.They hoped that the newly appointed chairmen will try their best to effectively highlight and resolve the genuine issues being confronted by the business community and utilize all available resources to further improve the image of Karachi Chamber.According to details, GST & Refund Sub-Committee will be headed by M. Riaz Dhedhi, Income Tax & Federal Excise Duty Sub-Committee by Khurram Shehzad, Exports Sub-Committee by Shamsul Islam Khan, Customs, Valuation, Import & Anti-Smuggling Sub-Committee by Saquib Goodluck, Industry Sub-Committee by Muhammad Hanif Ayub, Banking & Insurance Sub-Committee by Danish Iqbal, Fairs, Exhibitions & Trade Delegation Sub-Committee by Abdul Rehman Naqi, Law & Order Sub-Committee by Mansoor Ahmed, Communication Sub-Committee by Ali Raza Sheikh, Diplomatic Missions and Embassies Liaison Sub-Committee by Sohail Amin, Public Sector, Utilities, Power & Gas Sub-Committee by Azeem Ahmed Alvi, Provincial & Local Taxes Sub-Committee by Tanveer Barry, Ports, Shipping & Multi Modal Transport Sub-Committee by Asif Shaikh Jawaid, Health & Education Sub-Committee by M. Ismail, WTO, IPR, FTA & Regional Trade Sub-Committee by Shamim Ahmed Jumlana and Women Entrepreneurs by Ms. Wazahat Nasim. Moreover, Special Committee for Legal Affairs will be led by President KCCI Muffasar Atta Malik, Special Committee to Implement MoUs by Junaid Makda, Special Committee for My Karachi by Idrees Memon and Special Committee for Small Traders by Abdul Majid Memon.
Karachi(Cliff News)In the last day of Karachi conference held at the Arts council of Karachi by Karachi Conference foundation discussed the ecology in Karachi in the new liberal world. The session chaired by Farhan Anwar and the discussants were Mahim Mahar and Saqib Ejaz Hussain.As in the second session the ecology of Karachi has discussed Mr Taimur Suri open and discussion on the Bin Qasim Park of Karachi and its environs. Mr Shahab Usto is a corporate and commercial lawyer. His presentation on the Civic amenities was eye opening in which he collected the data from all over the Sindh and presented it. The condition of water supply in all over the Sindh is alarming most of the filtration plants aren’t working which has been placed years ago. He has collected the data from the different departments of public health and water supply centers of the different cities of the Sindh. The conclusion of his presentation was almost 88% of water supplies are supplying dirty water and almost 100% of the people of Sindh has no fresh water to drink.Dr. Tipu Sultan has been served as a head of anesthesiology as well as medical superintendent at Karachi civil hospital. His research revealed many truth about the pharmaceutical industry of Pakistan. According to him there are 625 pharmacutical industries working in Pakistan and only 20 of them are multinationals where 120 industries are reliable. All the other industries are producing low standards medicines and they are selling it to the rural areas. He said that Pakistan is allocating its 80% of health budget on urban areas which has only 30% in population where 20% remains for the rest of rural areas which is three time larger than the urban areas. According to him every year 140 medical colleges in Pakistan are producing 14000 doctors and almost 1200 specialists but they prefer to go abroad because of the less opportunities.FixIt is a renowned Non-Governmental organization of Karachi which is working in the different social issues of Karachi. Syed Muhammad Taha is the general security of FixIt. He represented and share the FixIt story with the audience. He said their vision is to make young generation stronger and stronger so that they would be independent and government role remains very low.The last presentation of the second session was by Mr Mansoor Ali who has the expertise in the solid waste management, water and sanitation. He enlighten the waste management, water and sanitation and the case of Karachi in this sense. He shared the different methods of waste management being practiced in the world and the modernization in the waste management. Shafaat Khawaja is the student of the Habib University of Karachi, her research revealing around the new Nazimabad project in the north west of Karachi. Her finding was about the local community around the New Nazimabad project and how the people of these areas or suffering with this project. She said people are effecting largely as the areas around the project are Katchi abadies.Uzair Ibrahim is also student of Habib University of Karachi. His research was reflecting the point of view of the people and the socio-economic effects of the Beharia Icon tower on the Abduallah Shah Ghazi Shrine. He said the impacts are large but people are suffering as it will difficult for the people to reach shrine.Farwa Hussain also belongs to Habib University her research topic was making the invisible visible in which she was illustrating the shortfall of water distribution system in Karachi. She showed different maps in which the water supply system of Karachi was shown. She said it need a lot more work to meet the needs of water in Karachi.Nazish Rizwan is another student of Habib University whose research topic was the Air quality management policy in Karachi. She said there is no data available of air quality. We are living in the city which has many environmental and ecological issues where no one is caring about it.Komal Hijani belongs to IBA Karachi her research hold the case of people who came from the northern areas of Pakistan to Karachi for the economic and job purposes. Her research reveals different issues these people face and suffer while living in Karachi. She said the major issue is unawareness as these people have the experience of living with the joint family system where Karachi is a diversify city so they often couldn’t cope-up with the issues and fails to maintain their lives in the Karachi.Sana Ahmed represented the Zulafqar ali Bhutoo institute of science and technology. Her research reveals the truth of the modern use of information technology and the power of social media as how the different commercial industries are using the interest of common human being.Samia Nafees belongs to the Institute of business administration where her research belongs to the abnormal people in the streets of Karachi and the people behavior towards them. She said that these people also need attention of the society to maintain their live and to live as a normal human being.
Karachi(Cliff News)China Power Hub Generation Company Pvt. Ltd. (CPHGC) and a consortium of banks, led by China Development Bank and the Export & Import Bank of China have signed financing documents including the main foreign loan facility agreement on in the Chinese city of Chengdu. The consortium of banks will provide up to 75% of total Project investment, that is approximately $1.5 billion. To-date, CPIH has provided $300 million as shareholder loan to pay for project construction.Representatives of China Power International Holding Ltd (CPIH), Hub Power Company HUBCO), CPHGC, China Development Bank CDB, Export-Import Bank of China as well as the other participating banks of the Consortium that includes Industrial and Commercial Bank of China, China Construction Bank and Bank of Communications were present at the signing ceremony.The project of CPHGC is located in Hub, Balochistan, 45 km northwest of Karachi. The equity proportion of CPIH in CPHGC is 74% and that of HUBCO is 26%. The total investment in the Project that includes 2x660MW Imported Coal-Fired Power Plant and a dedicated Jetty is approximately $2 billion. During commercial operations, the project will provide 9 billion kWh electricity to the National Grid every year that will meet the electricity needs of 4 million households in Pakistan.At the signing ceremony, Mr. Zhao Yaozhong, President of Sichuan Province, Branch of China Development Bank (CDB), said: “China Development Bank is the largest foreign investment and financing cooperative bank in China as well as the largest development financial institution in the world with an estimated gross asset nearing \16 trillion ($2.4 trillion). Up to now, China Development Bank has supported 19 projects in Pakistan with a combined worth of around $7.8 billion, covering a number of key areas of cooperation between China and Pakistan. Since 2006, China Development Bank has established a good cooperative relationship with Pakistani government, local banks and Pakistan-based Chinese enterprises, giving a credit of $1.7 billion to Ministry of Finance of Pakistan, and $500 million to HBL, which boost thecooperation on credit among Chinese banks, Ministry of Finance of Pakistan and other Pakistani financial institutions.”Mr. Yu Bing, Chairman of China Power International Holding, quoted the speech by President Xi Jinping in the 19th National Congress of the Communist Party of China that China adheres to the fundamental national policy of opening up and pursues development with its doors open wide. China will actively promote international cooperation through the Belt and Road Initiative. In doing so, we hope to achieve policy, infrastructure, trade, financial and people-to-people connectivity and thus build a new platform for international cooperation to create new drivers of shared development.Mr. Yu added, “As a reliable and responsible state-owned energy enterprise, CPIH is committed to the Belt and Road Initiative, and is actively participating in the construction of China-Pakistan Economic Corridor. CPHGC project is recognized as one of the “Priority Projects” under CPEC and it is highly valued by the governments of both sides. The CPHGC project is on course for financial close by the end of 2017. “China and Pakistan are all-weather strategic cooperation partners. Pakistan shares the best and firmest cooperation relationship with China. As a good neighbour, friend, partner and brother, Pakistan works closely with China on international political affairs and bilateral concerned areas. CPHGC Project not only reflects the economic cooperation between China and Pakistan, but also represents the deep and firm brotherhood. It will bring immense socioeconomic benefits for Pakistan. After the commercial operation of the project, it will effectively ease the situation of Pakistan’s electricity shortage, bring considerable tax income and employment opportunities, improve the local people’s livelihood, continue to promote Pakistan’s economic and social development and political stability.”Mr. Khalid Mansoor, CEO, HUBCO, introduced the Hub Power Company and its projects in Pakistan, also expressed his appreciation to the hard work of CPIH, CPHGC and Financing Team.CPIH is wholly-owned subsidiary of SPIC, one of the Fortune 500 companies, CPIH mainly engages in the development, construction, operation, overseas investment and financing and capital operation of power generation projects. The Company’s has assets in 23 provinces of China as well as in Hong Kong and Macao. Overseas it has investments in Pakistan, Vietnam, Germany among other countries. By end of 2016, the total installed capacity of CPIH is 28110MW, the company’s total assets has reached $18.45 Billion.Hub Power is the largest Independent Power Producer (IPP) in Pakistan with a combined power generation capacity of over 1600 MW. The Company’s RFO-fired thermal Plant, situated at Mouza Kund, Hub Baluchistan, supplies net 1200MW of reliable and uninterrupted electricity to the National grid
Karachi(Cliff News)Sindh Tennis Association conducted a 10 days STA Umpiring Course at Union Club ( Theory) and Karachi Gymkhana ( practical) during 1st Beacohouse Open National Seniors & Juniors Tennis Championship 20-28 Oct 2017.Muhammad Khalid Rehmani, ITF qualified Referee, was the instructor, where as Farha Riaz, Course Director and Amanvel Anwar was specially invited from Lahore to act as Chief of umpire.Participants who were declared passed were Ansa Noor , , Shumaila Rashid , Aqsa Rashid , Raeesa Zareen, Khalida Bibi, Abdul Moiz, Muhamma Rehan Akram,Aysha Yousuf, . All of these participants are nominated as STA level one Umpire.The Secretary Sports Sindh Mr. Niaz Ali Abbasi and Mr. Asim Yaqub , regional Head Beaconhouse School System distributed certificates to all passed candidates.