Business News

Punjab will contribute to country’s food security

Salim Ahmed

Lahore—Agriculture and Livestock sectors have a paramount role in ensuring food security for whole population of the province. In fact Punjab is also expected to contribute to food security of the whole country. Agriculture and livestock have immense economic potential as these provide food and fiber besides being major source of foreign exchange. Livestock is a newly emerging economic sector with high potential in terms of economic returns. Agriculture sector in country has over 23 per cent share in the GDP, of which livestock contributed 53 per cent.

Seafood exports up 15.68% in one year, 20.45% in June

Islamabad—The exports of fish and fish preparations surged by 15.68 percent during the fiscal year 2013-14 as compared to the exports of the commodity during the corresponding period of last year. Pakistan exported seafood products of worth $367.472 million in July-June (2013-14) compared to the exports of $317.652 million in July-June (2012-13), according to the latest data of Pakistan Bureau of Statistics (PBS). In terms of Pakistani rupee, the fish exports increased by 22.64 percent by going up from Rs.30,759 million to Rs.37,722 million during the period under review.

Meezam Bank maintains growth momentum

Registers 17 percent growth in profit

Amanullah Khan

Karachi—Meezan Bank Limited has recorded 17% growth in its Profit-after-tax which increased to Rs. 2.254 billion compared to Rs. 1.933 billion earned in the corresponding half year of 2013. The Earnings per Share of the Bank increased to Rs. 2.25 (June 2013: Rs. 1.93). As a result of the Bank’s strong profitability, the Board of Directors approved an interim cash dividend of Rs 1.50 per share (i.e 15%). The Bank has an unbroken payout record since its listing on Stock Exchange in the year 2000. The Board of Directors of Meezan Bank Limited in its meeting held at Karachi on July 24, 2014 approved the reviewed financial statements of the Bank for the half year ended on June 30, 2014.

Advice to mango growers

Multan—Agriculture experts have advised growers to get soil and water analyzed from laboratory before mango nursery sowing while soil having pH value ranging from 5.5 to 7.5 is considered suitable for the purpose. Farmers must have knowledge of the combination of minerals, food, and pH value of the soil to take appropriate decisions for nursery growth, says a release issued by the media liaison unit of the Punjab agriculture department on Monday.

Concept of CSR is yet to be exploited in its true sense in country

In Mobilink, corporate responsibility goes beyond philanthropy and donations

Staff Reporter

Lahore—In last few decades, the concept of Corporate Social Responsibility (CSR) has grown exponentially. As the business grows, pressure is mounting on the business houses to share their profit in fulfilling social obligations by returning to the society. However, in Pakistan the concept of CSR is yet to be exploited in its true sense for the benefit of those who are living below poverty line. To achieve this goal, pragmatic steps on the part of profit earning business houses is need of the hour.

LCCI Mediation Centre sets new record by resolving 13 disputes

Salim Ahmed

Lahore—The LCCI Mediation Center sets a new record by resolving 13 business disputes in six months time. The latest case resolved in just few hours is pertain to Euro 50,000 dispute between a domestic and a foreign company. The LCCI President Engineer Sohail Lashari, who heads the Mediation team, lauded the conciliatory approach adopted by both the parties that resolved the disputes in record time. Mediation Center of the Lahore Chamber carries out the legacy of the institution by once again burning its mid night oil for the wellbeing of the business community. Another splendid accomplishment by this newly set up department of the Lahore Chamber has set high goals for its own self and high expectations for its members.

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