Day: March 17, 2023

Karachi, March 17, 2023 (PPI-OT): TPL Corp CEO, Ali Jameel, met with Finland’s Ambassador to Pakistan to strengthen business relations between the two countries. The meeting, which took place at Avari Towers in Karachi, is a significant step towards driving industries in Pakistan.

With a dedicated contact person from Finland Pakistan Business Council (FPBC) at the Karachi headquarters, TPL Corp, a leading conglomerate in Pakistan with diverse interests in technology, insurance, fund management, and real estate, is committed and well-positioned to support Finnish companies looking to establish their presence in Pakistan.

FPBC was established in 1985, backed by major locally operating banks and industries, and has played a critical role in strengthening relations between the two countries. The meeting between Mr. Jameel and Finland’s Ambassador, Mr. Hannu Ripatti, along with FPBC Chairman Mr. Willie Eerola, symbolizes the next phase of the industrial revolution driven by FPBC, Finland, and Pakistan.

The two countries have enjoyed strong diplomatic and economic ties for over seven decades, and there is tremendous potential to strengthen these relations further. “Finland had a non-resident Ambassador to Pakistan until last year. The re-opening of the resident Embassy of Finland in Islamabad last September is a clear sign of the rising interest and importance of Pakistan in Finland.

The possibility for Finnish companies to make contacts and get information from the FPBC’s dedicated contact person in the economic hub of Karachi is again a new step up on the ladder of developing our two countries’ economic relations. It is also a clear boost for our companies looking for new partners and markets in our two countries,” H.E. Mr. Hannu Ripatti, Ambassador of Finland to Pakistan, said.

“During the last few years, the interest among Finnish companies in Pakistan has increased significantly, and we have been hosting several delegations to Pakistan. The momentum for growing Finland-Pakistan trade and investment is right now, and Finnish companies would be able to make the required technology and knowledge transfer to really happen in Pakistan,” Mr. Willie Eerola, Chairman of FPBC, stated.

In July 2022, Finnfund, a leading development financier and impact investor in Finland, acquired a 17.59% shareholding in TPL Insurance Limited, enabling the company to introduce innovative and tech-driven insurance products in Pakistan. “International collaborations like these can play an instrumental role in bringing in foreign exchange to the country, which is a critical need for the Pakistani economy currently,” Mr. Ali Jameel said.

For more information, contact:
TPL Corporation Limited
12th Floor Centrepoint, off Shaheed-e-Millat Expressway,
Adjacent to KPT Interchange Karachi – 74900, Pakistan
Email: info@tplcorp.com
Website: http://tplcorp.com/

The post TPL Corp CEO Meets Finland’s Ambassador to Strengthen Industrial Relations appeared first on Business News Pakistan.

Karachi, March 17, 2023 (PPI-OT): Chairman of National Business Group Pakistan, President Pakistan Businessmen and Intellectuals Forum, and All Karachi Industrial Alliance, and former provincial minister Mian Zahid Hussain on Friday said it is not IMF debt that brings countries out of the crisis, but good leadership.

If leadership is based on principles and the expenditure is not more than the income then there is no question of a financial crisis in the country, he said. Mian Zahid Hussain said that the number of countries that need IMF support can be counted on the fingers, while around one hundred and seventy countries have never tried to seek IMF’s help.

Talking to the business community, the veteran business leader said that irresponsible countries empty the treasury through extravagant spending, losses of government institutions, electricity, gas theft, and elitism and then they themselves ask for loans from institutions like the IMF.

Politicians invite such institutions to interfere in the country’s affairs for loans, after which they try to prove themselves innocent in the eyes of the people by complaining about the strict conditions.

Mian Zahid Hussain said that wrong economic philosophies first bankrupted Sri Lanka and now it is the turn of other countries where politics is given priority over the economy due to which their economies have been destroyed and poverty is increasing.

A country having irresponsible leaders face the risk of default and it is left with no option but to bow to every demand of the lenders and the people have to bear the entire burden who has nothing to do with the wastage of funds and other related matters.

Mian Zahid Hussain further said that the weak countries are given a clear message in the negotiations that either accept all our conditions or declare bankruptcy as there is no third option. According to the available data, from July 2018 to June 2022, the devaluing of the currency has increased the debt burden by Rs9712 billion while 2835 billion rupees has been added to debt servicing on account of interest payments.

Due to these two policies alone, the country’s debt and interest payments increased by 12548 billion rupees. During these four years, according to the average value of the dollar the country’s debt has increased by 79 billion dollars without taking a single rupee as a loan.

For more information, contact:
President,
Pakistan Businessmen and Intellectuals Forum (PBIF)
Tel: +92-343-2226888
Tel: +92-300-8233364
Email: ceo@kenlubes.net

The post Not IMF but good leadership bring country out of crisis appeared first on Business News Pakistan.

Islamabad, March 17, 2023 (PPI-OT): Providing high international quality education to the youth of Pakistan is the first priority of the government. Prime Minister The government is providing equal development opportunities to the youth of the country. Prime Minister The government is providing laptops to the talented youth in the universities and making them compatible with modern technology. Prime Minister

Professor Mary Satyasani’s s for the promotion of higher education in Pakistan are commendable. Prime Minister Professor Mary Satyasani, Pro Vice-Chancellor of International Education and Teaching, University of London met with Prime Minister Muhammad Shahbaz Sharif.

The Chairman Higher Education Commission of Pakistan Professor Dr. Mukhtar Ahmed and relevant senior officials also participated in the meeting. In the meeting, Prof. Mary Satyasani highlighted the initiatives taken by the University of London for the promotion of higher education in Pakistan. The Prime Minister appreciated these initiatives of the University of London.

For more information, contact:
Prime Minister’s Office
Islamic Republic of Pakistan
Email: info@pmo.gov.pk
Website: https://pmo.gov.pk/

Islamabad, March 17, 2023 (PPI-OT): Lawyers have a key role in Pakistan’s constitutional evolution: Prime Minister

The government has approved the Laywers Protection Bill-2023 to be presented in Parliament for the protection of lawyers: Prime Minister

A support price of Rs 8,500 per maund has also been approved to make the crop profitable for cotton farmers: PM

Security of deposits of SME bank customers should be ensured: Prime Minister Special consideration should be given to return of customer deposits during winding-down: Prime Minister’s directive

Federal Cabinet meeting chaired by Prime Minister Muhammad Shahbaz Sharif was held today at Prime Minister House Islamabad. On the recommendation of the Ministry of Finance, the Cabinet gave ex-post facto approval to 15 bilateral and 2 Multi-lateral MoUs of the Security and Exchange Commission of Pakistan with various countries and international organizations.

The Federal Cabinet approved the winding down of SME Bank on the recommendation of the State Bank. The Cabinet directed that during the winding down, the security of deposits of all bank customers should be ensured. In the first phase, payments of 5.557 billion rupees will be made to all bank customers.

On the recommendation of the Ministry of Interior, the Federal Cabinet approved the formation of an inquiry committee under the Extradition Act 1972 headed by the Additional Deputy Commissioner for the extradition of Muhammad Wasim Aslam son of Muhammad Aslam to Saudi Arabia.

The government of Pakistan has an agreement with the Saudi government regarding the extradition of criminals. Muhammad Wasim Aslam is wanted by the Saudi government in a murder case.

The Federal Cabinet approved the reconstitution of the Pakistan Sikh Gurdwara Parbandhag Committee (PSGPC) on the recommendation of the Ministry of Religious Affairs and Interfaith Harmony. Representation of the Sikh community from all provinces has been ensured in the said 13-member committee. This committee will take care of maintenance of Gurdwaras, of Sikh pilgrims and other administrative matters for the next three years.

The Federal Cabinet also approved the decision taken by the Cabinet Committee on Legislative Cases on March 13, 2023, in which the Lawyers Protection Bill-2023 was approved. It has been prepared at the request of lawyers. The Federal Cabinet approved the decisions taken in the meetings of the Economic Coordination Committee on March 14, 2023 and March 15, 2023. It also includes the decision to increase the support price of cotton to Rs 8,500 per maund (40 kg).

For more information, contact:
Prime Minister’s Office
Islamic Republic of Pakistan
Email: info@pmo.gov.pk
Website: https://pmo.gov.pk/