ACCA and Board of Investment work together on “Ease of Doing Business” reforms

ACCA - BOI

Karachi(Cliff News)During a meeting with Helen Brand OBE, Chief Executive, ACCA (the Association of Chartered Certified Accountants), Board of Investment (BoI) Chairman Haroon Sharif said that the government is focused on addressing the structural problems in the economy to ensure export-led development and achieve stabilisation through development of human resource in the country.Highlighting some of the structural issues, the BoI chairman said that the professional bodies such as ACCA has a significant role to play in the development of human resource in the fields of corporate management, particularly corporate finance. Helen Brand highlighted that ACCA is training professionals on the line of fulfilling the requirements of digital age and is inculcating the highest standards of ethics and professionalism.“We are looking for tangible partnerships with private sector to bring in their knowledge and expertise to get the desired results.” – Haroon Sharif, Chairman, Board of Investment (BoI)The ACCA team also shared some of the insights on ‘Ease of Doing Business’ and overall business environment in Pakistan. Haroon Sharif appreciated the efforts of ACCA in finding the gaps in the policy and implementation and asked them to share concrete recommendations with the BoI, which is the Secretariat for ‘Ease of Doing Business’ reforms in the country.Earlier, Helen Brand OBE called on the Chairman of Audit Oversight Board (AOB), Mr. Tariq Iqbal Khan in Islamabad to explore opportunities for future partnerships. Senior representatives from the AOB, including Usman Hayat, Chief Executive Officer and Shahid Karim FCCA, Chief Regulatory Officer were also present at the meeting.Helen also met with Zia ul Mustafa Awan, President, ICMA Pakistan to discuss greater collaboration between both the professional accountancy bodies in developing the accountancy profession in Pakistan. Helen was also joined by Alan Johnson, Deputy President, International Federation of Accountants (IFAC) and Chair of ACCA’s Accountants for Business Global Forum.Helen Brand OBE was in Pakistan to attend the third edition of Leaders in Islamabad Business Summit. Powered by ACCA’s award-winning Professional Insights and featuring business leaders and luminaries from around the world, ACCA joined the summit as a Knowledge Partner.On the sidelines of the summit, Helen also attended different sessions hosted by country’s top leadership, most notably the sessions hosted by Prime Minister Imran Khan, President Dr. Arif Alvi and General Zubair Mahmood Hayat NI, Chairman Joint Chiefs of Staff Committee.

 

 

PTCL & Ministry of climate change collaborate for a green Pakistan

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Islamabad(Cliff News)Pakistan Telecommunication Company Limited (PTCL) and Ministry of Climate Change (MoCC), Government of Pakistan, have signed an agreement to support the Clean Green Pakistan Movement. This collaboration will enable to tackle issues of low forest cover and poor cleanliness in urban & rural areas of Pakistan.Under this MoU, PTCL and MoCC agreed upon afforestation of 200,000 trees across PTCL sites in the next five years. The MoU was signed by Syed Mazhar Hussain, Chief Human Resource Officer, PTCL and Babar Hayat Tarar, Additional Secretary, Ministry of Climate Change, followed by plantation of saplings at PTCL HQ.Furthermore, PTCL will initiate cleanliness drives in Karachi, Lahore and Islamabad to assist the solid waste management. In the initial phase, the company pledges to ban non-recyclable plastics in PTCL HQ in Islamabad. The company shall also arrange clean drinking water for its employees in connection with its resolve to implement health care and better environment to the workforce. Moreover, PTCL will also install filtration units to provide clean drinking water for the general public.On the occasion, Ms. Zartaj Gul Wazir, State Minister for Climate Change, said, “We are glad to collaborate with PTCL on Clean Green Pakistan Movement, which is to create awareness across the country regarding the importance of environmental preservation. PTCL has initiated a comprehensive awareness campaign on converting customers from paper bill to eBilling, which is a step in the right direction. As a nation, we need to come together to tackle issues like pollution and low forest cover. Under the Prime Minister Imran Khan’s vision of clean and green Pakistan, partnerships like this are going to pave the way in achieving our objective.”On the occasion, Rashid Khan, President and CEO, PTCL, said, “As a national company, it is our responsibility to support Clean Green Pakistan Movement. We are happy to collaborate with Ministry of Climate Change to create awareness and conduct trainings on environmental preservation. To promote this initiative, our teams across Pakistan will be executing afforestation campaigns.”In the past, PTCL has partnered with WWF for plantation of200,000 mangrove seeds in Balochistan, as part of the conservation organizations nationwide tree plantation campaign, called ‘Rung Do’. PTCL HQ is also Green Office certified by WWF.Recently, the company has also taken steps to ensure that numerous avenues are open for customers to opt for eBilling like PTCL website, Touch App and helpline 1218, to go paperless and save trees.PTCL is constantly contributing towards saving the environment and a greener Pakistan.

 

Reon announces 10 MW solar project at Bhit

Karachi(Cliff News)Reon Energy Limited today announced its latest 10 MW captive Solar Power Project for Eni New Energy Pakistan at Bhit, Sindh.The 10 MW photovoltaic project is expected to produce approximately 20 GWh (Gigawatt hours) annually. The output energy will be used on site, reducing gas consumption and avoiding around 140.000 Tonnes of CO2 equivalent emissions in the next 10 years. The project aims to integrate the new photovoltaic project with the existing power generating facility. Once operational, it will allow the shutdown of one the existing gas turbines and consequently to cut down on operational costs as stated by Eni.Mujtaba Haider Khan, CEO, Reon Energy Limited said “I would like to congratulate Eni New Energy Pakistan for starting this project of strategic importance for the country as it saves precious gas currently being used for on-site power generation. The 10MW Photovoltaic project shall secure an additional energy source for Eni New Energy Pakistan.”The project located near Bhit Gas Field is expected to complete by October 2019.

 About Reon Energy Limited

Reon Energy Limited is Pakistan’s leading industrial solar solutions specialist with deep domain expertise in lifetime solar resource assessment, engineering, development and construction, operational asset management, trouble shooting and performance management.Reon started its operations in 2012 and since then has managed to turn around the nation’s Renewable Energy Market with successful partnerships with groups such as Fauji Cement Company, Sindh Engro Coal Mining, Kohinoor Textile Mills, Abbott Pharmaceuticals, and Unilever Pakistan.Our People are essential to delivering the Reon Vision of generating power that creates prosperity for businesses, empowers people, and protects the planet.

PTCL celebrates Pakistan Day with full zeal and fervour nationwide

Islamabad – 23rd March, 2019: Pakistan Telecommunication Limited Company (PTCL), celebrates the79th National Day of Pakistan under the theme ‘Mein Hon PTCL, Mein Hon Pakistan’, with full zeal and fervouracross Pakistan. Customized photo booths that represent diverse culture and heritage of Pakistan are installed at the HQ and regional offices countrywide for the entire month of March. PTCL executives, senior management, along with employees and staff re-lived history by taking pictures and videos for a montage.On the occasion, Syed Mazhar Hussain, Chief Human Resource Officer, PTCL, said, “PTCL, being a national company, always celebrates Pakistan Day with great passion and enthusiasm. Keeping the spirit alive this year, the entire PTCL family participated in different activities and campaigns to show solidarity with Pakistan. On this special day, let us all pledge to stay united and committed to make a difference for a brighter future.” PTCL has grown and stood with Pakistan since its inception, connecting all four corners of the entire nation under one flag.


Official YouTube Link: https://www.youtube.com/watch?v=5DTXhHoUSwI


edotco charts the next phase of digital growth for Pakistan

Islamabad(Cliff News)edotco Group Sdn Bhd (“edotco”), the leading end-to-end integrated telecommunications infrastructure services company, today reinforced its commitment to Pakistan and building its digital future with a broad range of new service offerings to accelerate the country’s connectivity infrastructure development.Witnessed by Tun Dr Mahathir Mohamad, the Prime Minister of Malaysia and Imran Khan, the Prime Minister of Pakistan, edotco Pakistan signed agreements with three of the country’s major Mobile Network Operators (MNOs), Jazz, Telenor and Zong 4G. These agreements are aimed at boosting connectivity capabilities in the country via shared telecommunication towers, and more efficient operations and energy management. This comes amidst increased bilateral cooperation between Malaysia and Pakistan where the telecommunications sector is a key area discussed by both governments.At the event, Datuk Azzat Kamaludin, Chairman of edotco Group said “Pakistan and Malaysia have shared a healthy bilateral relationship and our continued investment reaffirms not just Malaysia’s commitment to strengthening these ties but also edotco’s. edotco would like to lead the way of future investments by investing not only in developing the telecommunication infrastructure landscape but also in developing the skills and expertise of the people here who are a part of our local operations. More than just an infrastructure provider, at edotco we push boundaries, reshaping businesses and communities in which we are present.” Suresh Sidhu, Chief Executive Office of edotco who was also present at the event further outlined edotco Group’s mission to advance Pakistan’s connectivity through the development of sharable and scalable telecommunications infrastructure.“Pakistan will reap the full benefits of digitalisation when the nation is equipped with the right infrastructure that is shareable, future-ready and can meet the increasing demands for connectivity spanning throughout the country. As a longstanding partner in nation building, we put forth infrastructure sharing as a proven proposition to accelerate MNO deployment initiatives. Being asset light frees up substantial capital investment and resources from MNOs which they can channel towards their core business, extending their network coverage and improving service offerings for customers,” said Suresh.“These collaborations further open up opportunities for the telecommunications ecosystem to work together to meet the nation’s needs. All parties need to focus on meeting increasing data usage growth especially as users transition from 3G to 4G and beyond. MNO partners are set to benefit from edotco’s advance solutions and world class practices as we are well positioned to gear up telecommunications landscapes with increasingly complex connectivity demands through our deployment of highly scalable next-generation structural solutions” Suresh added. To date, edotco Group’s business in Pakistan has grown to approximately 1000 fully operational towers nationwide with a workforce of approximately 110 telecom professionals. Through its local operations, the company has invested over USD 110 million in growing their local operations in 2018. The investments announced today represent a part of the USD 250 million the company intends to invest over the next five years.edotco Group currently owns and manages over 29,500 towers across the six countries in which they have a presence. Over the past six years the company has been committed to ensuring the right sharable infrastructure is constructed and efficiently managed to assist mobile operators in delivering cost effective and seamless connectivity.

 

 

Standard Chartered launches first ever global running event

Karachi(Cliff News)Standard Chartered announced the launch of the Standard Chartered Belt & Road Relay, the first-ever global running event spanning the Belt and Road initiative, with the aim of highlighting the Bank’s continued commitment to Belt and Road, and the positive impact of the initiative to communities and businesses globally.
The Relay will be led by eight staff athletes from Standard Chartered, selected from the Bank’s diverse footprint in Asia, Africa, the Middle East, and Europe and the Americas. These athletes will participate in running events across 44 Belt and Road markets within a 90-day period.
Commenting on the launch, Bill Winters, Group Chief Executive, Standard Chartered, said, “The Belt and Road Initiative is the most ambitious and far-reaching project of its kind in the world today. We are present in two-thirds of Belt and Road markets, and our rich heritage, deep local knowledge and unparalleled connectivity mean that we’re ideally placed to help our partners, clients and communities to make the most out of the initiative. By traversing these markets on foot and engaging local clients, governments, media and communities, our Standard Chartered Belt & Road Relay athletes will showcase our commitment to be the One Bank for the Belt and Road.”
The Standard Chartered Belt & Road Relay kicked off in Hong Kong on 17 February, in conjunction with the Standard Chartered Hong Kong Marathon, which is one of the biggest sports events in the city with over 74,000 runners, and will end in China on 11 May after the Belt and Road Forum.Shahzad Dada, Chief Executive Officer, Standard Chartered Pakistan commented, “We are very proud to host the Belt & Road Relay in Pakistan. The Bank has been in Pakistan and China for more than 150 years. Our longstanding and deep-rooted presence in both countries along with 70 per cent of footprint overlap with B&R countries equips us with in-depth knowledge of prevailing political, economic and cultural environments making us an indispensable partner in this extra ordinary progress. It is therefore incumbent upon us to assist our valued clients to capitalize on these enormous trade opportunities created through better connectivity between them and the rest of the world.This Belt & Road Relay emphasises our promise to be ‘Here for good’, while demonstrating our capabilities in providing comprehensive set of products, services and solutions to our existing as well as prospective clients who are looking to embark upon their growth journeys along the Silk Road.”China Pakistan Economic Corridor (CPEC) is a flagship project of China’s ‘One belt, One Road’ (OBOR) initiative which will connect Western China to Gwadar Port in Arabian Sea – forming a network of road, rail links to boost trade. Involves variety of energy & infrastructure projects worth $62billion. Standard Chartered has already secured a few major mandates for onshore & offshore banking relationships for these projects in Pakistan essentially providing all services including debt and equity proceeds, FX flows, working capital requirements.The Belt and Road initiative is core to Standard Chartered. In 2017, the Bank committed additional financing for Belt and Road projects of at least USD 20 billion by 2020, and was involved in more than 50 Belt and Road deals worth more than USD 10billion across a range of products and services.The Runners are as follows.

Serena Leung— Hong Kong
Henry Li— Hangzhou, China
Herman Kambugu— Uganda
Dina Tarek Elesaawy— Dubai
Danny Chang— Malaysia
Therese Neo— Singapore
Jack Missin— United Kingdom
Lynsey McGarry— New York, USA

International hospitality investment group invest $118 million on Pakistan tourism industry

 

IHIG English Picture CaptionIslamabad(Cliff News)As the International Hospitality Investment Group (IHIG) is investing 118 Million Dollars in the tourism industry of Pakistan, the CEO of this resourceful multinational enterprise – Noor ul Asif, along with its Chairman – Mr. Alun Richards, held a meeting with the Chairman Board of Tourism – Mr. Zulfi Bukhari, Special Advisor on Political Affairs to the Prime Minister – Mr. Naeem ul Haq and the Chairmain Board of Investment (BOI) – Mr. Haroon Sharif. The meeting took place at the Prime Minister’s Secretariat in Ibad, to discuss the prospects of investment in Pakistan. Mr. Zulfi Bukhari assured the Chairman of IHIG about the Pakistan Government’s commitment to extend all possible support to foreign investors.Mr. Richards, expressed his company’s commitment to invest 118 million US Dollars in the tourism and hospitality sector of Pakistan that will create 4000 job opportunities in the country. IHIG has already acquired 2 hotels in Shogran and Bhurban, to elevate the standards of this developing industry. Being the first company that has aligned itself with the Prime Minister of Pakistan’s vision, IHIG will be promoting tourism by facilitating the international tourists coming to Pakistan.On the occasion, Mr. Richards stated that; “I have spent half of my childhood in Pakistan. Over the recent years, the perception of this beautiful country has changed positively, among the global community. Therefore, an increasingly large number of tourists from all over the world are already expressing the desire to visit Pakistan, where they can explore the diversity of its pristine landscapes, ranging from the world’s highest mountains to scenic beaches on a long coastline, along with lush green fields, vast deserts and much more. The historic traditions of hospitality and the variety of sumptuous cuisines also provides many unforgettable experiences. The Government’s new policy of granting E-Visas for 175 countries, is a brilliant initiative that promises great convenience for international tourists”.He further stated that; “Pakistan is the only country in the world which attracts all segments of tourism, to see the mesmerizing beauty of Northern areas, especially the Kaghan valley that offers a multitude of exciting attractions and scenery for the domestic and international tourists, with its beautiful weather conditions throughout the year. A soft image of Pakistan is being recognized by the whole world now, so we are ready to invest on building its potential by capitalizing on the tourist-friendly gestures and strong goodwill of the new government.

About IHIG:
International Hospitality Investment Group is Pakistan’s first ever vacation ownership company head quartered in London. IHIG was founded by team of hospitality experts, primarily involved development and marketing of highly desired vacation destinations of Pakistan.