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ICCI and UNIDO organize Investors Connect Program to promote innovations

Islamabad, December 14, 2017 (PPI-OT):The Islamabad Chamber of Commerce and Industry (ICCI) in collaboration with United Nations Industrial Development Organization (UNIDO) organized an “Investors Connect Program” (ICP) to bring together innovators and investors to promote innovations and explore mutually beneficial matchmakings. Maroof Afzal, Secretary, Ministry of Industries and Production was the Chief Guest of the ceremony. The innovators of UNIDO’s Global Cleantech Innovation Program (GCIP) participated in the Investors Connect Program and presented their innovations to the potential investors so that investors could support commercialization of innovative business ideas.

Speaking at the occasion, Maroof Afzal, Secretary, Ministry of Industries and Production said that government should make supportive policies for innovators to bring industrial revolution in Pakistan. He said Pakistan’s 60% youth was under 30 years of age that offered great potential for innovations. He said conducive environment and good incentives were needed for the innovative ideas to flourish.

He appreciated the initiative of ICCI and UNIDO for taking lead to organize Investors Connect Program and urged the investors to support innovators for building innovative culture in Pakistan. He stressed for a mechanism and system to address barriers and support creative talent and new technologies in Pakistan.He hoped that ICP would lead to formation of some big companies in Pakistan and assured that his ministry would support such initiatives.

Sheikh Amir Waheed, President, Islamabad Chamber of Commerce and Industry said that Investors Connect Program was organized by ICCI for the first time in Pakistan in collaboration with UNIDO to provide innovators a good platform to connect with investors for commercialization of innovative ideas. He said Pakistan has great talent of innovators and they needed right direction and support to excel in innovations.

He stressed that public-private partnership models should be developed to support innovators. He assured that ICCI would continue to partner with UNIDO in initiatives aimed at promoting innovators, startups and SMEs. At this occasion, ICCI also launched an “Innovation and Entrepreneurship Forum” (IEF) to bring all public and private sector organizations working for promoting innovations, at a single platform and bring synergy in their efforts for better promotion of innovators and startups. HEC, Ignite and UNIDO have assured to support ICCI in this initiative to foster! a culture of innovations in the region.

Ms. Nadia Aftab, UNIDO Country Director said that access to capital was major hurdle for Pakistani innovators and hoped that ICP would help innovators in transforming innovative ideas into rising brands. She said world renowned companies like Google and Facebook were also launched as startups and hoped that ICP would contribute to promote some big companies in Pakistan.

Neil Buhne, UN Resident Coordinator and Mr. Alois Mhlanga, UNIDO Project Manager from HQ also spoke at the occasion. They said Pakistan has great future for innovations and entrepreneurship. They were optimistic that such programs would unleash real potential of Pakistani innovators to grow into big brands of the country. At the occasion a Final Gala was also organized to reward the five best innovators of GCIP.

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: +9251 225 0526, 2253145, 8432676
Fax: +9251 225 2950
Email: icci@brain.net.pk
Website: www.icci.com.pk

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Historic visit to the LCCI: French Parliamentarians to act as Pakistan’s ambassadors

Lahore, December 13, 2017 (PPI-OT):Back in France, we would be Pakistan’s ambassadors as it has huge untapped economic potential and perfect geographical location. This was stated by the members of French Parliamentary delegation while speaking at the Lahore Chamber of Commerce and Industry.

The LCCI President Malik Tahir Javaid presented the address of welcome while Senior Vice President Khawaja Khawar Rashid, Vice President Zeeshan Khalil, Members of French Parliamentarian delegation Jean Bernard Sempastous, Mrs. Annaig Le Meur, Jean-Luc Reitzer, Mrs. Sonia Krimi, Alexandre Michel, Mian Ahsan Abbas, Michael Boucault and Philippe FOUET spoke on the occasion while Ali Hassam Asghar, Awais Seed Piracha, M. Nawaz, Moazzam Rasheed, Kalim Ahmed, Tehmina Saeed Chaudhry and Mian Zahid Javed were also present on the occasion.

The Parliamentarian said that French government values high its relations with Pakistan and keen to further strengthening its economic relations with Pakistan that is an important country of the region. They stressed the need for close contacts between the businessmen through use of modern technology like video conferencing in order to develop deep and lasting linkages and networks for sharing each other’s experiences for strengthening of economic relations. They said that they would play their role for increasing bilateral trade between the two countries.

The French Parliamentarians highly spoke about Pakistan and said that investment opportunities in Pakistan are of great attraction for foreign businessmen. They said that they would tell their businessmen about the sectors that could create win-win situation. The LCCI President Malik Tahir Javaid appreciated the initiative taken by the leadership of the France Pakistan Friendship Group for visiting Pakistan to promote trade and investment relations between two countries.

He said that France is Western Europe’s largest country by area. Including overseas regions, it ranks 41st in the world in size. By economic measurements, France is among the world’s most successful countries. Being Europe’s third largest economy, its nominal GDP ranked seventh largest in the world at more than $2.4 trillion in total output.

The LCCI President said that France is well known around the world for its colours, designs, festivals, fashion, foods and monuments etc. France is rightly considered the birth place of modern democracy. The revolutionary ideals of 1789 i.e. Liberty, Equality and Fraternity were impressive and contributed to a great deal in attaining ultimate triumph. That victory owes much to the French men and women who have defended freedom and democracy.

“I am sure that you being French Parliamentarians and members of France Pakistan Friendship Group would be noticing certain changes in political scenario of Pakistan particularly taking place in the last decade. Unlike past, the democratic setup of Pakistan faced highs and lows in a sensible way. Pakistan is all set to gain further political stability in years to come. We hope that we will soon start reaping the fruits of attaining political maturity”, Malik Tahir Javaid added.

While sharing trade figures, he said that in 2015, the total volume of bilateral trade was dollar 778 million which surged to dollar 817 million in 2016. The main reason of that increase was consistent rise both in imports and exports to France. He said that from 2015 to 2016, the exports to France registered an increase of 3.3% whereas the imports from France went up by 6.5%. This trend needs to be continued. In the present scenario of bilateral trade, the balance of trade should be in favour of Pakistan and its products should have easy access to the markets of France. Your support is desperately needed in this connection.

The LCCI President said that in terms of tourism, Pakistan is a beautiful and historical country and you will be amused by its scenic beauty. We are peace loving nation and desirous of maintaining peace in the whole region. There is no such situation in Pakistan which is mostly portrayed by international media. He urged the French Parliamentary delegation to share actual perception about Pakistan.

For more information, contact:
Information Department
Lahore Chamber of Commerce and Industry (LCCI)
11-Shahrah-e-Aiwan-e-Tijarat,
Lahore -54000, Pakistan
Tel: +92-42-111-222-499
Fax: +92-42-36368854
Website: www.lcci.org.pk

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New exchange rate policy malfunctioning: FPCCI

Karachi, December 13, 2017 (PPI-OT):The recently-adopted exchange rate policy is imperfect at best which has started malfunctioning resulting in economic losses and increased uncertainty among masses and the business community, a business leader said W...

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Rupee devaluation to damage economic cycle: LCCI

Lahore, December 12, 2017 (PPI-OT):Rapid devaluation of Pak rupee will damage the economic cycle of the country besides scaring off international investors therefore State Bank of Pakistan should control this dilemma without wasting a single moment. “Devaluation would lead to lower industrial productivity, surge debts, harm already struggling exports, inflation hike, reduce the purchasing power of the masses that would pose serious challenges for the economy.”

In a statement, the LCCI President Malik Tahir Javaid, Senior Vice President Khawaja Khawar Rashid and Vice President Zeeshan Khalil said that sudden devaluation of Pak rupee has raised complexities for all economic sectors. They said that surge in dollar price will increase the import bill as all imported oil, raw material and other essentials will go high.

They said that recent surge in the prices of the greenback would not only jack-up the cost of doing business but would also erode the profit margins. They said that the State Bank of Pakistan needs to ascertain the factors weakening the value of rupee and check the possibilities of undue speculations and malpractices in the operation of foreign exchange markets in Pakistan. This will help stabilize rupee and restore the confidence of the business community.

The LCCI office-bearers said that an unchecked increase in the dollar rate will multiply the cost of doing business and badly affecting the industrial, manufacturing and agriculture sectors as Pakistan has to import fertilizers, food items, oil, machinery and industrial raw material. They said that the government should take immediate measures to arrest further devaluation of rupee to avoid more damaging consequences for the economy.

They said though the weaker rupee benefits the exporters by giving them more rupees per dollar, but this benefit is neutralized by the costly imported inputs of manufacturing sector including textiles thus eroding the financial advantage of a weaker rupee. They said that the economy was already under tremendous pressure owing to multiple internal and external challenges it has been facing for the last many years.

They said that today almost all sectors of economy are in deep trouble and a further fall in value of rupee will cause more contraction in economic activities leading to a drastic cut in the tax revenue for government. The LCCI office-bearers said that if the greenback continues its upward trend, it will certainly inflate import bill besides lowering the competitiveness of Pakistan’s business and industry. Therefore, government should get quickly into action to arrest this dangerous trend. They suggested to the government to immediately introduce institutional reforms and curtail non-development expenditures for the sake of country’s economy and its people.

For more information, contact:
Information Department
Lahore Chamber of Commerce and Industry (LCCI)
11-Shahrah-e-Aiwan-e-Tijarat,
Lahore -54000, Pakistan
Tel: +92-42-111-222-499
Fax: +92-42-36368854
Website: www.lcci.org.pk

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Standards Compliance to help promote business activities: PSQCA

Islamabad, December 12, 2017 (PPI-OT):The Pakistan Standards and Quality Control Authority (PSQCA) in collaboration with Islamabad Chamber of Commerce and Industry (ICCI) organized an awareness seminar at Chamber House to educate the business community...

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There are lot of room for promotion of trade between two countries: Ambassador of Romania

Lahore, December 11, 2017 (PPI-OT):Ambassador of Romania Nicolaie GOIA has said that there is a lot of room for promotion of trade between the two countries. Private sectors of the both countries should intensify b-2-b contacts and Romanian Embassy is ready to extend full cooperation in this regard.

While talking to the LCCI Senior Vice President Khawaja Khawar Rasheed, Vice President Zeeshan Khalil and Executive Committee members here at the Lahore Chamber of Commerce and Industry, the Romanian Ambassador said that to boost the existing trade volume, some extra ordinary efforts are required. He said that Romania has vast business opportunities. Pakistani businessmen should come forward and avail these opportunities.

The Ambassador said that Pakistan is a resourceful country. It has all weathers, vast fertile land, best quality fruits and vegetable. He said that Romanian investors are keen to step in joint ventures with their Pakistani counterparts. He said that exchange of delegations between Romania and Pakistan can help boost the bilateral trade volume which at the moment does not match the potential exist in the two countries.

The LCCI Senior Vice President Khawaja Khawar Rashid said that Romania has been the fastest growing economy of the European Union for second consecutive year and is the 7th largest market in EU. Pakistan and Romania have longstanding cooperation in political, economic, cultural and scientific fields. Pakistan-Romanian relationship had many aspects evolved since the establishment of diplomatic relations in 1964.

He said that Pakistan and Romania had developed strong economic, trade and cultural relations rooted in decades old history and presently both countries are looking to expand economic cooperation besides enhancing their import and export ties. He appreciated the support provided by Romania to Pakistan for acquiring the Generalized Scheme of Preferences (GSP) with European Union (EU) countries.

The LCCI Senior Vice President said that with respect to trade, both countries could greatly benefit from each other. Total exports from Pakistan to Romania in 2014 were around 25 million dollar that dropped to 21 million dollars in 2016. Whereas imports from Romania in 2014 were above 167 million dollars which dropped to 85 million dollars in 2016. The bilateral trade figure for the year 2016 is more than $107 million.

He said that there is huge potential for Pakistani exports of Footwear, gaiters, parts of such articles and tools, implements, cutlery, spoons and forks, of base metal. Romanian imports from Pakistan include cotton, surgical instruments and shoes, while Pakistan among other things had started to increase demand for Romanian flowers and canola for its oil industry.

The LCCI Vice President Zeeshan Khalil said that a number of projects were set up in Pakistan with Romanian assistance. Some years back, an oil refinery in Karachi and two cement plants in Lasbela and Kohat were jointly established. There are other areas of economic cooperation like energy, IT, pharmaceutical and engineering etc.

“Finally, we would also like to have a meaningful follow-up of your visit by more frequent exchange of delegations from both sides. We will be more than pleased to organize a visit of the Romanian businessmen to Pakistan, especially to Lahore under the umbrella of the Romanian Embassy”, the LCCI Vice President concluded. Khaliq Arshad and Muhammad Wasim also spoke on the occasion.

For more information, contact:
Information Department
Lahore Chamber of Commerce and Industry (LCCI)
11-Shahrah-e-Aiwan-e-Tijarat,
Lahore -54000, Pakistan
Tel: +92-42-111-222-499
Fax: +92-42-36368854
Website: www.lcci.org.pk

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