Day: April 7, 2023

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Indian BSF man found dead under mysterious circumstance in UP

Shamli, April 07, 2023 (PPI-OT): A soldier of Indian Border Security Force (BSF) was found dead under mysterious circumstances in the Indian state of Uttar Pradesh. The BSF man, Dheeraj Kumar (40), was found dead at a farm at Hiranwada under Babri region of Shamli district of the state, said police on Friday.

A week ago, his wife had also died under mysterious circumstances. However, her family members said that Dheeraj and his relatives had forced her to commit suicide. An FIR was also lodged on April 01 against Dheeraj and his two relatives for compelling the woman to commit suicide and the investigation is underway. Dheeraj’s elder brother Amit Sharma said that his brother was posted in Gurgaon city of Haryana state and was on a month’s leave.

“Dheeraj went to the farm in the morning, and was later found unconscious. The family rushed him to a hospital, where the doctors declared him dead,” police said. The body has been sent for post-mortem and the matter was being investigated, said a police spokesman.

For more information, contact:
Kashmir Media Service
Phone: +92-51-4435548, +92-51-4435549
Fax: +92-51-4861736
Email: info@kmsnews.org
Website: www.kmsnews.org

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Indian policeman dies after his rifle goes off in Kupwara

Srinagar, April 07, 2023 (PPI-OT): In Indian illegally occupied Jammu and Kashmir, an Indian policeman died by a fire from his service rifle in Kupwara district. The police man died when his service rifle went off accidentally in Awoora area of the district. The cop was posted at the residence of Bharatiya Janata Party president for district Kupwara, Abdul Rehman Lone, police officials said. He has been identified as Bikram Sharma, they added.

Meanwhile, an elderly man died while five other persons sustained injuries in a road accident in Khamri area of south Kashmir’s Pulwama district. On the other hand, the Jammu Kashmir Disaster Management Authority (DMA) issued an avalanche warning over higher reaches of Kupwara district in next 24 hours. The DMA said that a low danger level avalanche is likely to occur above 3000 metres above sea level in Kupwara district. People living in these areas have been advised to take precautions and avoid venturing in the avalanche prone areas till further orders.

For more information, contact:
Kashmir Media Service
Phone: +92-51-4435548, +92-51-4435549
Fax: +92-51-4861736
Email: info@kmsnews.org
Website: www.kmsnews.org

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Not surprised at Sangh Parivar’s attempt at rewriting history: Tushar Gandhi

New Delhi, April 07, 2023 (PPI-OT): Tushar Gandhi, Indian author and the great-grandson of Mohandas Karamchand Gandhi has said that he was not surprised at Sangh Parivar’s attempt at rewriting history prescribed for schools. Tushar Gandhi in an interview in New Delhi said deletions in NCERT (National Council of Educational Research and Training) textbooks will give greater acceptance to the “campaign of misinformation of the Sangh Parivar”. The NCERT has removed passages in textbooks prescribed for Class 12 political science and history. The portions removed include passages on Mohandas Karamchand Gandhi, his assassin Nathuram Godse and the 1948 ban on RSS. The NCERT curriculum is followed by several state boards across India.

Maintaining that he was not surprised at the development, Tushar Gandhi said Sangh Parivar never made secret of their desire to rewrite and discredit the established history. Responding to the raging controversy of text book deletions, he said that Gandhi’s ‘real identity and legacy’ always ‘troubled’ the BJP-RSS. The Opposition parties questioned the textbook deletions accusing the RSS-backed BJP government of tying to ‘whitewash’ historical events that trouble the BJP.

Tushar Gandhi also said textbook deletions will make the misinformation campaign by the BJP-RSS easier on a future generation with little exposure to real education and information. ‘This is their version of brainwashing in the very beginning. Instead of trying to overpower thoughts which have already been implanted, they are trying to build on the lies by implanting them in formative minds,’ he said.

For more information, contact:
Kashmir Media Service
Phone: +92-51-4435548, +92-51-4435549
Fax: +92-51-4861736
Email: info@kmsnews.org
Website: www.kmsnews.org

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IWT cannot be modified unilaterally by India: Sherry Rehman

Islamabad, April 07, 2023 (PPI-OT): Minister for Climate Change Sherry Rehman has said that Indus Water Treaty cannot be modified unilaterally by India. Responding to a Calling Attention Notice in the Senate, moved by Leader of Opposition Shahzad Waseem and others, she stressed that the treaty cannot be changed until both the parties, Pakistan and India, agree to it.

The Minister for Climate Change said Pakistan received a vague letter from India on 25th January this year for revision of the Indus Water Treaty. She said Pakistan had timely raised objections on the construction of controversial dams including Kishenganga, Ratle and Baglihar by India on the rivers meant for Pakistan.

For more information, contact:
Kashmir Media Service
Phone: +92-51-4435548, +92-51-4435549
Fax: +92-51-4861736
Email: info@kmsnews.org
Website: www.kmsnews.org

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VIS Reaffirms Entity Ratings of Kamal Limited

Karachi, April 07, 2023 (PPI-OT): VIS Credit Rating Company Limited (VIS) has reaffirmed the entity ratings of Kamal Limited (KL) at ‘A/A-1’ (Single A/A-One). Medium to long-term rating of ‘A’ denotes good credit quality; protection factors are adequate.

Risk factors may vary with possible changes in the economy. Short-term rating of ‘A-1’ indicates high certainty of timely payment, liquidity factors are excellent and supported by good fundamental factors. Outlook on the assigned rating is ‘Stable’. Previous rating action was announced on April 28, 2022.

Assigned ratings continue to factor in the company’s presence in export-oriented and value-added textile segment, sound sponsor experience, established operating track record, and diverse product portfolio and client base.

Ratings reaffirmation take note of consistent sales growth and adequate profitability with all-out retention, leading to strengthening of capitalization buffers over time. Debt service coverages remain sound and further supported by healthy investments in TDRs and bank deposits. However, leverage ratios are elevated and margins are under pressure in the current fiscal year due to upward trend in debt levels and benchmark rates.

Going forward, sustainability of revenues and improvement in margins and leverage indicators is considered important for ratings. Business risk profile takes into account industry wide growth in exports over the last year; however, recent floods across the country, high interest rate situation, inflationary pressures, higher electricity costs and demand slow down pose risks on the sector over the medium term.

Ratings are constrained by current weak macroeconomic environment globally and locally. Strong export sales and management concerted effort on reducing the reliance on imported cotton is viewed positively.

As part of capacity enhancement initiatives, the company has boosted spinning segment capacity by ~86% with new 9,792 spindles and 6,000 routers. Though over 25K additional spindles were planned for the year, supply issues caused delays, pushing the expected delivery to Dec’23 while installation is expected to be completed by the end of next fiscal year.

The project aims to meet ~65% of raw material requirements for the product line, from yarn to finished fabric. Additionally, a new knitting segment has been introduced, while capacities in other segments remain unchanged.

Sale revenues have exhibited a sizeable double-digit annual growth rate for five consecutive years, with YoY increase of ~29% primarily fuelled by rupee depreciation in exports, while local sales were driven by increased yarn/grey cloth capacities and higher prices.

However, sales growth has remained sluggish in the current fiscal year as impacted by global slowdown. On average, proportionate share of exports to local sales has remained relatively stable at 70:30, with two-thirds of local sales being indirect exports. Export sales mix exhibit fabric, home-textile, garment and yarn while local sales entail yarn, greige cloth and retail brand.

For more information, contact:
Director Compliance and Rating Analytics,
VIS Credit Rating Company Limited
VIS House, 128/C, 25th Lane off Khayaban-e-Ittehad,
Phase VII, DHA, Karachi, Pakistan
Tel: +92-21-35311861-72
Fax: +92-21-35311873
Email: bilal@jcrvis.com.pk
Website: https://www.vis.com.pk/

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KE collaborates with Bank Alfalah for cashback to enable savings

Karachi, April 07, 2023 (PPI-OT): Committed to digitally empowering customers, K-Electric has collaborated with Bank Alfalah offering a cashback to the bank’s customers using Alfa App and QR codes for monthly utility bill payment.

Through this offer, all registered users of Bank Alfalah’s Alfa banking app, including account holders and wallet customers can use Alfa QR to pay utility bills over PKR 2,000 and receive a cashback of PKR 500 per unique Alfa registered CNIC, which will be credited to their accounts within 5 working days. The campaign is valid till April 15, 2023.

KE is the first power utility in Pakistan to launch the QR code payment feature in collaboration with Bank Alfalah for customers to enable a hassle-free digital bill payment solution. As a result, the customers will now be able to scan a dynamic QR code and pay via QR supported mobile banking applications, thus benefitting through ease of use, instant payment facility through a secured payment platform, and higher reliability with instant data visibility.

With over 1 million digitally empowered customers, KE continues to find avenues and incentives to provide a seamless experience and takes pride in being an industry pioneer. The company has partnered with over 40 institutions including Bank Alfalah and facilitated over 400,000 customers with cashback offers. Integrating digital solutions is a core component for a customer centric company, and such initiatives also encourage a culture of regular bill payment through convenient means. KE also supports bill payment through the KE website and KE Live App.

For more information, contact:
Media and PR Department,
K-Electric
KE House, 39-B, Sunset Boulevard, Phase-II,
Defence Housing Authority, Karachi, Pakistan
Tel: +92-21-32637133, +92-21-38709132
Cell: +92-300-2281183, +92-346-8223641
Website: https://www.ke.com.pk

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ICCI calls for Pak-Ethiopia PTA to boost bilateral trade

Islamabad, April 07, 2023 (PPI-OT):Ethiopia has strong economic ties with Turkiye and UAE and Ethiopia wants similar relations with Pakistan. China and India have good presence in Ethiopia and Pakistan should increase its presence in the Ethiopian market to explore the untapped land of Africa. Many Pakistani products including textiles, pharmaceuticals, cement have great potential in Ethiopia and the business community of Pakistan capitalize on this potential for exports. This was said by H.E. Jemal Beker Abdula, Ambassador of Ethiopia while addressing the business community during his visit to Islamabad Chamber of Commerce and Industry (ICCI).

Jemal Beker Abdula termed the visit of Pakistani business delegation to Ethiopia as Hijra Trade, which was very successful. He said that after the visit of the Pakistani delegation to Ethiopia, he received calls from many African countries including Somalia, Djibouti, and Kenya who showed interest in promoting trade ties with Pakistan. He said that Africa is endowed with great natural resources and close cooperation of Pakistan with Ethiopia would help it get better penetration in the African region for trade and exports. He said that a high-level delegation of Ethiopia is likely to visit Pakistan in near future that would further strengthen trade ties between the two countries.

Speaking at the occasion, Ahsan Zafar Bakhtawari, President, Islamabad Chamber of Commerce and Industry said that Pakistan and Ethiopia should sign a Preferential Trade Agreement (PTA) that would remove trade barriers and boost bilateral trade between Pakistan and Ethiopia. He said that the Ambassador should take up the PTA matter with Pakistan authorities and assured that ICCI would extend all possible cooperation in such efforts. He thanked the Ambassador and the Ethiopian authorities for giving warm reception and great hospitality to the ICCI delegation during its very successful visit to Addis Ababa from March 5-11, 2023.

Faad Waheed, Senior Vice President ICCI said that Africa is very important for Pakistan and the Pakistani private sector would like to develop strong business linkages with Ethiopian counterparts to get better access to the African market for business and investment.

Engr. Muhammad Azhar ul Islam Zafar, Vice President ICCI said that Pakistan has good potential to promote business relations with Ethiopia and hoped that the visit of the Ethiopian delegation to Pakistan would further expand trade relations between the two countries.

Khalid Iqbal Malik Group Leader, Zafar Bakhtawari, Sheikh Ejaz, Humayun Kabir, Muhammad Shabbir, Akhtar Hussain and others also spoke at the occasion and gave useful proposals for improving Pak-Ethiopia trade and economic ties.

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

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PM announces launch of govt’s first dedicated mental health App ‘Humraaz’ and Helpline

Islamabad, April 07, 2023 (PPI-OT): Prime Minister Shehbaz Sharif has announced the launch of government’s first dedicated mental health App ‘Humraaz’ and Helpline. In a tweet today on the occasion of World Health Day, he said citizens’ well-being and especially mental health is paramount for our society’s improvement. He stressed that we need to remove taboo around mental health.

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

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