November 2, 2020 – Page 6 – PPI News Agency

Kyrgyzstan keen to develop strong trade ties with Pakistan: Envoy

Islamabad, November 02, 2020 (PPI-OT): H.E. Erik Beishembiev, Ambassador of Kyrgyzstan to Pakistan said that his country greatly valued its relations with Pakistan and was keen to develop strong trade and economic ties with it as both sides have great potential to diversify and expand bilateral trade in many areas. He said this while addressing the business community during his visit to Islamabad Chamber of Commerce and Industry.

The Ambassador said that Kyrgyzstan provided Pakistan the shortest route to Central Asia as its goods could reach his country from Kashgar (China) within 3 days. He said that Pakistan could also enhance its exports to the EU under the GSP Plus regime through Kyrgyzstan. He said that Pakistani investors should explore JVs in Kyrgyzstan to promote exports to EU countries and Central Asia.

He said that Kyrgyzstan was interested in buying medical equipment from Pakistan as Pakistan has made good progress in this field after Covid-19 pandemic. He said that a business forum of Kyrgyzstan would be organized in November at Lahore that would provide a good opportunity to the private sectors of both countries to further strengthen their business linkages.

He identified mining, industry, agriculture, banking, textile production, pharmaceuticals, JVs for the processing and sale of agricultural products as the most promising areas for bilateral cooperation between Pakistan and Kyrgyzstan. He said that the inauguration of CASA 1000 was planned this year, but the Covid-19 pandemic has caused its delay. He said that Kyrgyzstan has weekly flights from Pakistan for its students and was considering launching regular flights between the two countries that would help in improving bilateral trade as well.

Speaking at the occasion, Sardar Yasir Ilyas Khan, President, Islamabad Chamber of Commerce and Industry (ICCI) said that Pakistan and Kyrgyzstan were enjoying friendly and cordial relations at political level that should be transformed into growing trade and economic relations between the two countries. He said that the current volume of bilateral trade between the two countries was quite nominal and emphasized that strong efforts from both sides were needed to improve it.

He stressed that both countries should focus on establishing direct linkages between their private sectors to explore all untapped areas of mutual cooperation. He said that Pakistan could export many products to Kyrgyzstan including pharmaceuticals, surgical instruments, leather and sports products, but insufficient direct links between the two countries was a major hurdle in promoting two-way trade.

ICCI President said that Pakistani products were very competitive with affordable prices and emphasized that the Kyrgyzstan embassy should share the information about its major imports so that Pakistani exporters could make efforts to export those products to his country and capture a better market share in Kyrgyzstan. He said that ICCI was in the process of discussing some avenues either in Pakistan or Kyrgyzstan to bring the business community of both countries at one platform so that they could interact and explore prospects for further enhancing bilateral trade.

He said that Pakistan and Kyrgyzstan should consider signing a free trade agreement and address all trade barriers between the two countries in order to boost trade and exports. He said that establishing direct air links between the two countries was very important to increase trade relations and people to people contacts.

Ms. Fatma Azim Senior Vice President and Abdul Rehman Khan Vice President ICCI said that organizing single country exhibitions on reciprocal basis and encouraging frequent exchange of trade delegations was the way forward for promoting business relations between the two countries. Muhammad Ejaz Abbasi, Mian Shaukat Masud, M. Shakeel Munir, Ch. Ashraf Farzand, Khalid Chaudhry, Ms. Nasira Ali and others were also present at the occasion.

For more information, contact:
Islamabad Chamber of Commerce and Industry (ICCI)
Chamber House, Aiwan-e-Sanat-o-Tijarat Road,
Mauve Area, G-8/1, Islamabad, Pakistan
Tel: +92-51-2250526, 2253145, 8432676
Fax: +92-51-2252950
Email: icci@brain.net.pk, info@icci.com.pk
Website: www.icci.com.pk

The post Kyrgyzstan keen to develop strong trade ties with Pakistan: Envoy appeared first on Business News Pakistan.

President ICCI and Chairman CDA visit markets to address issues of traders

Islamabad, November 02, 2020 (PPI-OT): Sardar Yasir Ilyas Khan, President, Islamabad Chamber of Commerce and Industry along with Amir Ali Ahmed, Chairman CDA visited various markets of Islamabad including Super Market, Jinnah Super, Rana Market and Farooqia Market to see the on ground situation for the need of development works in markets including carpeting of roads, restoration of streetlights, repair of footpaths, provision of public toilets, parking facility, improving sewerage and sanitation systems and focus on better beautification of all major markets of Islamabad in order to uplift the basic infrastructure and overall look of all markets.

The Directors of all the departments of CDA and Officers of District Administration also accompanied the Chairman CDA. The representatives of respective markets including Abdul Rauf Alam and Muhammad Ejaz Abbasi former Presidents ICCI, Sheikh Abdul Waheed, Saeed Khan, Shehzad Abbasi, Muhammad Hussain, Khalid Chaudhry and others were also present at the occasion. After visiting the markets, the Chairman CDA passed orders for undertaking required development works in markets to facilitate the traders. He specifically issued instructions that all streetlights of above markets should be made functional within 24 hours.

It was the first of a series of joint visits planned to analyze and assess the current state of markets and then plan and undertake the required developments works in order to upgrade their condition. During the joint visit to markets, President ICCI and Chairman CDA agreed that anti-encroachment drive would be undertaken in markets by taking the trading community on board and by addressing their genuine concerns so that encroachments from markets could be removed with joint efforts.

Sardar Yasir Ilyas Khan has adopted a proactive approach to address the key issues of business community with close liaison of CDA and for this purpose, along with Chairman CDA and his team has started visits of markets to see first-hand the current state of affairs and work with CDA to improve the infrastructure in markets so that traders could feel facilitated in promoting business activities. He said that he would take Presidents of market associations on board to work with CDA for removal of encroachments from markets in order to restore their original beauty and aesthetics.

He also lauded the positive approach of Chairman CDA and hoped that with his determination and commitment, the condition of markets would soon be improved. He assured that ICCI would extend all sorts of cooperation and support to CDA in addressing the key issues of markets and industrial areas so that with joint efforts, industrial areas and markets could be upgraded and Islamabad could be developed into a modern looking capital at par with the other major capitals of the world.

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IFC Helps Businesses in Poorest Countries Fight Pandemic with $4 Billion in COVID-19 Financing

Islamabad, November 02, 2020 (PPI-OT): IFC’s pandemic response is focused on reaching the most vulnerable people in developing countries. Of the $8 billion in IFC COVID-19 fast-track financing approved by the IFC Board in March 2020, $4 billion has been committed to date, of which close to half is expected to benefit people in the poorest countries and fragile states, with the remainder helping to support the fight against COVID-19 across other developing countries and emerging markets.

“Supporting the private sector will be crucial to helping developing countries achieve an inclusive, sustainable and resilient recovery and stem the current rise in extreme poverty,” said World Bank Group President David Malpass. “Our goal with IFC’s fast-track COVID-19 facility is to provide needed liquidity for corporate and financial institution clients, which will provide working capital, support jobs and facilitate trade.”

IFC’s Board in March approved $8 billion in financing to help companies affected by the outbreak. IFC, the largest global development institution focused on the private sector in emerging markets, has since fully deployed the $2 billion allocated under the trade-finance envelope of the fast-track facility. This support is helping client financial institutions keep liquidity flowing to businesses that depend on trade, especially micro, small and medium-sized enterprises (MSMEs), a major source of employment.

“IFC’s fast-track COVID-19 facility was designed to provide immediate liquidity to our financial institutions and real sector clients to preserve jobs and prevent short-term damage,” said Stephanie von Friedeburg, Interim Managing Director, Executive Vice President and Chief Operating Officer of IFC. “By supporting private sector clients and interventions, we are hoping in the longer term to help reignite economic growth, paving the way for a better, more resilient and sustainable future once COVID-19 recedes.”

IFC has committed an additional $2 billion under the facility, benefiting every region in which IFC operates. This financing is being used for a range of purposes, from bolstering healthcare providers to helping the battered tourism sector and keeping viable businesses afloat, thus saving jobs. Another $623 million has been mobilized for these clients from private sector partners.

Additionally, the IDA Private Sector Window (PSW), a tool developed by the World Bank Group to catalyze private-sector investment in the world’s poorest countries, has provided $281 million in guarantees supporting trade-finance and working-capital loans to small and medium-size enterprises (SMEs) in eligible countries since March.

IFC’s response is part of the World Bank Group’s effort to take broad, fast action to help developing countries strengthen their pandemic response, increase disease monitoring and improve public-health interventions. The World Bank Group has the financial capacity to deploy $160 billion over the next 15 months, including a potential $47 billion from IFC in overall support for the private sector.

Looking ahead, IFC will work with its partners to help restructure and recapitalize viable businesses and set the stage for an inclusive, sustainable and resilient recovery. In August, IFC also launched the $4-billion Global Health Platform, which is helping developing countries expand access to medical supplies such as masks, ventilators, test kits and, eventually, a COVID-19 vaccine.

Here are some examples of IFC projects committed under the fast-track financing facility with a focus on helping small to medium-sized businesses:

In Uganda, IFC strengthened services to hundreds of thousands of hospital and clinic patients through a $4-million loan to International Medical Group.

In Nigeria, IFC helped SMEs across several sectors facing working-capital or trade-finance challenges with a combined $200 million loan to FCMB, Access and Zenith banks.

In Egypt, IFC has deployed trade finance through the COVID-19 fast track facility to help businesses import necessary commodities such as food and manufacturing inputs.

In Bangladesh, IFC supported Mymensingh Agro Limited, a company within the PRAN Group, to expand its capacity to manufacture affordable and quality food products with a $25 million investment.

In Vietnam, IFC offered relief to businesses, including more than 300 SMEs, by providing $75 million to the Phu My Hung Development Corporation.

In Ukraine, IFC helped a leading agricultural producer in Ukraine finance its working capital to limit potential input supply chain disruptions in meat production due to the pandemic, thereby supporting domestic food security.

In Brazil, IFC helped preserve jobs and lessen the economic shocks through a $100 million loan to Daycoval, a bank that will provide credit to SMEs, included women-owned businesses.

For more information, contact:
Headquarter,
International Finance Corporation (IFC)
2121 Pennsylvania Avenue, NW
Washington, DC 20433 USA
Tel: (202) 473-3800
Fax: (202) 974-4384
Website: www.ifc.org

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Faysal Bank supports Pink Ribbon Pakistan

Islamabad, November 02, 2020 (PPI-OT): Faysal Bank Limited, one of the leading Islamic banks in Pakistan, has joined hands with Pink Ribbon Pakistan, to support the organization’s efforts towards breast cancer and women’s health, in the country.

Having one of the highest percentages of female staff in the banking industry, Faysal Islami stresses on the importance of women healthcare and recently embarked on an internal breast cancer awareness drive for its female staff. While conducting a session on breast cancer awareness at Faysal Bank, Mr. Omer Aftab, the Founder and CEO of Pink Ribbon Pakistan, enlightened the staff on preventive techniques, such as regular checks and a healthy lifestyle, which can help decrease the risk of breast cancer.

Speaking on the occasion, Ms. Sarwat Zehra, Senior Executive at Faysal Islami (Branch Banking) and internal Champion of the Cause at Faysal Islami said, “The Bank has always placed the highest value on the well-being of its staff and its corporate social responsibilities at large. With the help of our association with organizations such as Pink Ribbon Pakistan, we hope to fight against the most pervasive threat to female health and play our part in improving the quality of women healthcare in Pakistan.”

On behalf of Faysal Islami, Ms. Zehra presented Mr. Omer Aftab with a cheque as a token of the Bank’s support for Pink Ribbon’s efforts. The Bank’s contribution will aid in the construction of an ultrasound room and purchase of equipment at the upcoming Pink Ribbon Hospital in Lahore that promises to have state-of-the-art diagnosis, free of cost treatment and counselling facilities for breast cancer patients.

Speaking at the event regarding the issues related to women healthcare in Pakistan, CEO of Pink Ribbon Pakistan, Omer Aftab, said, “Pakistan has the highest rate of breast cancer in the entire Asian region, with every 9th woman at high risk of developing breast cancer at any point in life. Due to a lack of awareness, social stigma attached to the disease, inadequate healthcare facilities, and poverty, most of the women are not even able to seek reliable treatment. Once completed, the hospital will serve about 40,000 women annually from all over Pakistan. We are grateful for the contributions made by Faysal Bank for this cause and we commend their efforts in promoting a healthier society.”

For more information, contact:
Head Office,
Faysal Bank Limited
Faysal House, ST-02, Shahrah-e-Faisal, Karachi, Pakistan
UAN: +92-21-111-747-747
Fax: +92-21-32795234
Email: corpcomm@faysalbank.com
Website: www.faysalbank.com

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Cancer Protection Benefit offered in Ujala Insurance Plan

Karachi, November 02, 2020 (PPI-OT): Jubilee Life Insurance introduces Ujala Insurance Plan which is a first of its kind insurance proposition in the bancassurance channel that offers cancer protection supplementary benefit along with other insurance riders at a modest additional cost. This proposition provides financial protection in case of illness or accident and is especially curated to make the customer feel safe and secure for their financial future.

In addition to the cancer protection benefit, the Ujala plan also offers a choice of obtaining a second medical opinion from specialists located all over the world so that one can find correct diagnosis and a treatment plan which will help the person make informed decisions about his/her life.

Speaking at this occasion, Mr. Farhan A. Faridi, Group Head – Retail Distribution, Jubilee Life Insurance said “We can understand the pain and stress that one goes through when faced with the difficult circumstances of being diagnosed with an ailment such as cancer. This initiative will help us make this offering accessible to a larger audience through their wide branch network across Pakistan and I am confident that this will help take forward our long-term vision of providing every Pakistani with solutions that protect their financial future”.

Jubilee Insurance is a global brand of the Aga Khan Fund for Economic Development (AKFED) that offers diverse insurance solutions (life, health and general) in the Asian and East African markets. Jubilee Life in Pakistan offers a uniquely designed range of life and health insurance plans, catering to various customer segments and needs. These include retirement, child education, marriage, saving and protection, wealth accumulation, life insurance plans for women, rural insurance plans and life and health insurance solutions for the less privileged of our country.

For more information, contact:
Head Office,
Jubilee Life Insurance Company Limited
74/1-A, Lalazar, M.T. Khan Road, Karachi-74000, Pakistan
Tel: +92-21-35205095
Fax: +92-21-34322011
Call Center: +92-21-111-111-554 (JLI)
Email: info@jubileelife.com
Website: http://jubileelife.com

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Prime Minister to soon announce special developmental package for Balochistan: Qasim Suri

Islamabad, November 02, 2020 (PPI-OT): Deputy Speaker National Assembly Qasim Khan Suri has said that the civil bureaucracy is a precious asset of the country. Addressing a conclusion ceremony of the 30th Mid-Career Management Course at National Institute of Management in Quetta on Monday, he urged the participants of the course to discharge their responsibilities with honesty and sincerity. He said that our government is paying special attention to the development of Balochistan and Prime Minister will soon announce a special developmental package for the province.

For more information, contact:
Ministry of Information and Broadcasting
Government of Pakistan
4th Floor, Cabinet Block, Pak. Secretariat, Islamabad, Pakistan
Tel: +92-51-9103557
Email: info@moib.gov.pk
Website: http://www.moib.gov.pk

People welcomes announcement of PM for provisional provincial status to GB

Islamabad, November 02, 2020 (PPI-OT): People of Gilgit-Baltistan have welcomed the announcement of Prime Minister for provisional provincial status to Gilgit-Baltistan. Governor Raja Jalal Hussain giving impression on Prime Minister Imran Khan Announcement said that people of GB will include in national mainstream and a long standing issue will be addressed.

He said people of GB will be given representation in National Finance Commission, National Assembly and Senate. Caretaker Chief Minister Mir Afzal Khan said provisional province will help end 73-year long deprivations among people of GB and put the area on rapid development and prosperity. Speaker GB Assembly Fida Muhammad Nashad said Prime Minister Imran Khan has won the hearts of people of GB and proved himself a real leader of Pakistan.