KARACHI (APP) The State Bank of Pakistan (SBP) and International Finance Corporation (IFC), a member of the World Bank Group, will conduct a series of workshops to help domestic banking sector expand access to finance for the Small and Medium Enterprises (SMEs). In this regard, the two institutions have also launched a series of publications for the bankers, said SBP in a statement on Monday. SBP and IFC have produced a series of booklets about the ways banks can increase lending to Small and Medium Enterprises. These booklets, which cover ten sectors including agriculture, education and logistics, are aimed at helping the banks in creating better and low-cost product programs that will enable small businesses to obtain more financing and expand their operations. These booklets follow a study conducted by SBP and IFC in Pakistan that included the participation of top 16 commercial banks and over 300 interviews of small businesses in 10 sectors. Each booklet includes an industry overview and chapters on market assessment, risk assessment, financial bench marking, proposed banking products for the sector, and guidance on how these products could be channelled and distributed. At the completion of the survey, SBP and IFC held a dissemination workshop for banks at Karachi wherein the surveying consultants shared key features and findings of the Project with the participating banks. The Deputy Governor, State Bank of Pakistan, Yaseen Anwar, who presided over the workshop, while stressing the importance and significance of the exercise emphasized upon the banks to make maximum use of the findings of the survey. He also stressed upon the banks that while defining their competitive positioning and designing profitable SME strategies, they should provide better and improved services to the SMEs. Kaiser Naseem, IFCs Head of Bank Advisory Services for Middle East & North America (MENA), said IFC works to help small businesses obtain financing to grow and create jobs. Our work in Pakistan will encourage banks to lend money to new markets, encouraging economic growth, he pointed out. Such workshops will also be held in other important SME centres of the country, in order to disseminate the Studys findings to a larger group of stakeholders, especially the finance providers. Lanka keen to boost trade with Pakistan RAWALPIND (APP) Sri Lanka is keen to expand trade ties with Pakistan, said Sri Lankan High Commissioner Air Chief Martial (Retd) Jayalath Weerakkody on Monday. Talking to a delegation of Rawalpindi Chamber of Commerce and Industry (RCCI), which met him at his office in Islamabad, the High Commissioner said Sri Lanka has strong political relations with Pakistan and now trade ties between the two countries will be promoted, said a press release. The High Commissioner said Pakistani products are very popular in the Sri Lankan markets and they have established their names due to their high quality. The delegation comprising senior vice president Mian Attique, vice president Dr Shamial Daood, Khalid Farooq Qazi, Malik Jamshed, Mamoon Anwar and Muhammad Ali was led by RCCI President Ali Raza Shah. Jayalath Weerakkody said that Sri Lanka has been a victim of terrorism and sectarianism due to which economic growth of the country remained slow, adding, Sri Lanka was fully aware of the current situation of Pakistan. He informed the delegation that his country will also boost its investment in Pakistan. Underlining the need of strengthening bilateral trade ties he said, Pakistan and Sri Lanka have inked several bilateral agreements including for free trade and now both the countries should take benefit to the free trade agreement. Addressing the participants, President Rawalpindi Chamber Ali Raza Shah said that despite the negative impacts of global recession and war against terrorism on national economy, the countryb s exports showed an upward trend which is a good omen. Pakistani exports volume has reached to $20 billion, he said adding, increasing exports vgovernment takes on board the business community while formulating the national export policy. He said Pakistan and Sri Lanka have enjoyed very close and strong friendly ties but the trade volume between the two countries is $300 million which is too small. Stressing the need to increase the trade volume he said, solid steps aimed at boosting business between the two countries are necessary. President RCCI said Pakistani products including surgical items, leather goods, rice, electronics, vegetables and fruits have huge demand in Sri Lankan Markets. He urged the High Commissioner to help arrange exhibitions for the Pakistani products so that more products could be introduced in Sri Lankan markets. President RCCI said that promotion of trade between the two friendly countries will help ensure stability and development in the region. Pak-Tajik bilateral trade can jump to $300m KARACHI (PPI) The exports from Pakistan to Tajikistan could jump to $300 million from exiting $20 million after signing trilateral agreement with Tajikistan and Afghanistan, this was the consensus between the two brotherly countries following conclusion of third Business Forum during visit of 108-member strong delegations visit to Tajik capital Dushanbe. On the conclusion of 4-day visit of Tajikistan by joint delegation of Trade Development Authority of Pakistan (TDAP) and Federation of Pakistan Chambers of Commerce and Industry (FPCCI), the leader of the delegation and Chief Executive, TDAP, Tariq Iqbal Puri said that the delegations visit proved to be a historic success and a detailed report is being submitted to the government to take immediate and long term measures to fully open the trade corridor between the two brotherly countries which would also serve as a gateway to Central Islamic States. He said that many targets during the visit have been achieved as five MOUs were signed by the delegation with their Tajik counterparts under which the investors from both the countries would invest in the industry and other sectors. Puri said that opening up air link between the two countries has also been discussed with the Tajik government and Prime Minister Oqil Oqilov and President, Emamali Rahmon have taken keen interest in starting PIA flights to Dushanbe and agreed to reduce landing charges for the airlines. Tariq Puri further informed that Tajik government has also invited Pakistan to take part in Central Asia South Asia Regional Energy & Trade (CASA-1000) Project. CASA-1000 project will transmit 1000 MW of surplus electricity from Tajikistan and Kyrgyzstan to Pakistan with power transit through Afghanistan. The total length of transmission line is 750 KM while the project is planned to be on Public Private Partnership basis with the support of WB, IFC, ADB and IDB. The project cost is estimated around $865 million. He informed that Tajik ministry of foreign affairs has also agreed to accept TDAP and FPCCIs recommendations to issue visas to Pakistani businessmen on priority basis. He said that KASB bank has opened Nostro Account in a Tajik bank so that businessmen can open up letter of credit. He said that one of the delegate and Honorary Consul of Tajikistan in Karachi, Irshad Kassim has also planned to open microfinance bank in Tajikistan as well. He said there are vast opportunities for bilateral cooperation in various fields including agriculture, education, trade, energy, health, sports, tourism, industry, investment, banking, transport, communications, culture, etc. He said that he also invited Tajik businessman to participate in the EXPO Pakistan 2011 that would be held in Karachi from October 20-23, 2011. He also assured that Pakistan was fully committed to support Tajikistans membership of the WTO and implementation of the CASA-1000 project. Puri hoped that some of the measures to enhance trade between the two countries would be materialized during President Asif Zardaris forthcoming visit to Tajikistan. Chinas trade with S Asian states grows robustly BEIJING (APP) Over 500 officials and business leaders from China and eight South Asian countries, who gathered on Sunday in the city of Kunming, capital of Yunnan Province, discussed the promotion of trade and investment in the region. A cooperative memorandum signed after the 6th China-South Asia Business Forum urged all involved parties to create trade and investment policies that will encourage economic globalization and regional cooperation. It also called for efforts to remove trade and investment barriers. Common development goals and complementary economies will make China-South Asia cooperation mutually beneficial, said Wang Jinzhen, deputy director of the China Chamber of the International Council for the Promotion of International Trade. Trade between China and South Asian countries has grown robustly in recent years. Trade volume between the two sides jumped to more than 80 billion U.S. dollars in 2010, up from 26 billion U.S. dollars in 2005. Tariq Sayeed, former president of the SAARC (South Asian Association for Regional Cooperation) Chamber of Commerce and Industry, said the 2010 trade figure still lags behind the regions potential. He expects the figure to reach 150 billion U.S. dollars by 2013. More than six centuries after the southern Silk Road fell into disuse, China and South Asian countries hope to revive the ancient route and forge it into a robust economic corridor for trade and investment. Chinese and South Asian traders crossed daunting mountains more than 2,000 years ago to exchange commodities such as silk, tea, ironware, jewellery and horses along the southern Silk Road from southwest Chinas Yunnan to Pakistan and other South Asian countries, including Afghanistan. The route, though less well-known than the northern Silk Road, used to be an important link for trade and cultural exchanges between China and South Asia. It faded into history with the rise of maritime trade in the 15th century. However, as trade and ties in the region continue to prosper, the ancient trade route has regained some of its former prominence. To help the economic corridor initiative, Yunnan announced the creation of a bridgehead strategy in 2009, aiming to build the province into an economic gateway for South Asia and Southeast Asia. Bai Enpei, the provincial Chinese Communist Party chief, said Yunnan will accelerate the construction of infrastructure and logistical networks between the province and Southeast Asia, South Asia and coastal regions along the Indian Ocean. New roads, railways and flight paths are now crisscrossing the region, helping facilitate trade and investment. The province now has 12 civil airports with 31 international flights to 19 countries According to previous reports, the reopening of the historic road, a former World War II supply route, could cut costs for transportation between India and China by 30 percent and provide a boost to Sino-Indian overland trade. Progress is being made on the construction of a trans-Asian railway network, which will cover 114,000 km and pass through 28 countries after being completed. Construction for a 530-km section of railway that will connect Yunnan with Laos is currently under way. Despite these efforts, infrastructure problems are still a major obstacle for the creation of a new economic corridor. Commerce officials from south Asian countries have also expressed concern about Chinas massive trade surplus. In response to concern, Wang said China has attached great importance to trade imbalance issues and will take all possible measures to improve the situation. Wang noted that China also hopes that south Asian countries will boost their imports to China. LCCI team leaves for S Korea, China and Vietnam LAHORE (PPI) A six-member Lahore Chamber of Commerce and Industry (LCCI) delegation under the leadership of LCCI President Shahzad Ali Malik Monday left for a 12-day visit to South Korea, China and Vietnam with an objective to bolster foreign investment and further strengthen bilateral trade relations. Meeting with the top KORAIL management for securing locomotives for Sheikhupura Dry Port, visit to Eui Wang Inland Container Depot, tour of Locomotive Maintenance and Central Railway Traffic Centre in Seoul and Business-to-Business meetings at Seoul Chamber of Commerce and Industry after talks with South Korean Business leaders are the main features of LCCI delegation visit to South Korea. The Delegation having in its fold LCCI Executive Committee Member Khawaja Khawar Rashid, former EC member Mohammad Amjad Chaudhry, Shahzaib Gull Vohra, Shamim Ahmad Malik and Sheikh Khalid Humayun will depart for China on June 9. During their three-day stay in China, the LCCI delegation would have meetings with President Shenzen Chamber of Commerce and Industry, business community of Shenzen. The delegation would also attend a working lunch arranged by Pakistan Consul General in Shenzen and a working dinner by Biocentury Transgene. The LCCI team would also visit different factories besides having B-2-B meetings in Guangzhou Province. On June 12, the LCCI delegation would have a meeting with Vietnamese business leaders at Ho Chi Minh Chamber of Commerce and Industry. A visit to various industrial units in Ho Chi Minh City is also part of LCCI delegations tour to Vietnam. From Ho Chi Minh City, the LCCI delegation would leave for Hanoi on June 14 where it would be meeting with Hanoi Chamber of Commerce and Industry. Pakistans Ambassador in Hanoi has also arranged a working dinner in honor of LCCI delegates. The LCCI President Shahzad Ali Malik said that South Korea is one of the important trading partners of Pakistan and the volume of trade between Pakistan and South Korea was bound to increase as both the governments are making sector-specific moves to get the desired results. He said that non-availability of required trade-related information was the biggest hurdle in the way of South Korean investment in Pakistan. Korean investment in Pakistan is very little when it is compared with the rest of the world. There is a need for the technology transfer as both the countries have a lot to learn from each other. To create a win-win situation for both the countries, Koreans need to increase their imports of cotton, raw hides & skins, fish, medical apparatus, toys & games, leather products, articles of apparels and textile articles from Pakistan. Most of the Korean demand for these commodities is being met by Korea from sources other than Pakistan and only a small fragment is being imported from Pakistan. A little attention by the Korean Government and businessmen can increase Pakistans exports to Korea considerably. He said Vietnams market offers huge potential for Pakistani products like auto parts, pharmaceutical products, man-made filaments, knit fabrics, plastics & plastic products, fish, dairy products, surgical instruments, distillation products and handicrafts. Pakistan and Vietnam both being agricultural economies can also collaborate in agricultural implements and machinery sectors and can share their agricultural experience. ZTBL prepares various schemes for farmers SUKKUR (APP) Zonal Chief, Zarai Tarqaiti Bank Limited (ZTBL) Sukkur Zone Syed Ghulam Mujtba Shah Rizvi has said that concrete steps are being taken to improve the agriculture sector and in this regard, different schemes have been introduced to facilitate the farmers. This, he stated while talking to APP here on Monday. He said that the main objectives of the establishment of the bank was to extend facility of soft loans to the farmers besides introducing modern technology so that the desired results in the agri sector could be achieved in an effective mannvision of present government which is keen to develop the agriculture sector in a true manner. Zonal Chief Rizvi said that following the mission and vision of the government, ZTBL has introduced several schemes to achieve the target in shortest period of time. To a question, he said that Non Performing Loans (NPLs) of the bank were the lowest while deposit was at the highest. He said improvement was made with the good policies of the bank, adding, this is a record in the history of ZTBL. He said that solar pumps schemes are being introduced among the farmers so that they could install the pumps along the fields. The installation of pumps would help improve the agri production while dependency on diesel and electricity would also be decreased after utilizing this technology, he said. The bank has taken the initiatives to reduce the burden on electricity and diesel and for this purpose, the bank provided facility to the farmers for the purchase of solar pumps to increase the production of crops, he added. Rates for conversion KARACHI (APP) The following rates will be applicable for conversion into rupees of Foreign Currency Deposits, Dollar Bearer Certificates, Foreign Currency Bearer Certificates, Special U.S. Dollar Bonds and profits thereon by all banks and for providing Forward Cover on Foreign Currency Deposits (excluding F.E.25 deposits) by the State Bank on June 7, 2011. The rates are U.S. Dollar Rs 85.9487, Japanese Yen Rs 1.0738, Pound Sterling Rs 140.9730 and Euro Rs 125.5538. SECP issues 26 orders, 60 show cause notices ISLAMABAD (APP) As part of its enforcement and regulatory function, the Securities and Exchange Commission of Pakistan (SECP) passed 26 orders in May, fining defaulting listed and unlisted companies. In order to safeguard the interests of investors and stakeholders and to develop corporate governance culture in the country, the SECP took action against 60 companies by issuing show cause notices for non-compliance with various provisions of the 1984 Companies Ordinance. In addition, 109 investors complaints were also resolved during the month, said a statement issued here on Monday. Pak-Qatar Family Takaful declares 48pc surplus for customers KARACHI, (APP) Pak-Qatar Family Takaful (PQFTL) has declared a Surplus of 48 percent of Takaful Donation for its BancaTakaful customers for the financial year ending 2010. Chief Executive Officer of PQFTL, P. Ahmed in a statement on Monday said the Company will share the surplus amount with Individual Takaful participants on the basis of their contributions to the Waqf Fund. Surplus, an inherent benefit of Takaful, is calculated on the amount available in the Waqf Fund after paying off all claims and meeting all expenses for the year, he said. PQFTL Chief said the provision of surplus makes Takaful equitable and financially more viable compared to the conventional insurance system. We are the first Takaful Company in Pakistan to declare a Surplus on their BancaTakaful product, Ahmed said. PQFTL has distribution agreements in place for its BancaTakaful products through premier banks such as Standard Chartered Bank, Dubai Islamic Bank, Albaraka Bank, Dawood Islamic Bank, MCB Bank, Faysal Bank and Bank Alfalah. PQFTL is the largest provider of BancaTakaful in Pakistan, he claimed. He said FWU Global Takaful Solutions based in the Dubai International Financial Center (DIFC), is the technical partner in PQFTLs BancaTakaful product and is also one of the strategic shareholders in PQFTL. FWU is the premier facilitator of BancaTakaful products in Saudi Arabia, the UAE, Kuwait, Malaysia and Pakistan.